The Nigerian National Petroleum Company Limited (NNPC Ltd.) has acknowledged recent media reports highlighting the company’s significant outstanding debts to petrol suppliers. This situation has intensified the financial strain on NNPC Ltd., raising concerns about the long-term sustainability of fuel supply in Nigeria.
In response to these challenges, NNPC Ltd. reiterated its unwavering commitment to its statutory role as the “supplier of last resort” under the Petroleum Industry Act (PIA). The company remains focused on safeguarding the nation’s energy security amidst the mounting financial pressures caused by escalating Premium Motor Spirit (PMS) supply costs.
NNPC Ltd. is proactively engaging with relevant government agencies and key stakeholders to navigate these financial challenges and maintain a steady and consistent supply of petroleum products across the country. This collaborative approach aims to mitigate potential disruptions and uphold the company’s dedication to ensuring national energy security, even in the face of daunting economic realities.
NNPC Ltd. reassures the public of its commitment to transparency and responsible management, pledging to keep Nigerians informed about ongoing developments and efforts to stabilize the fuel supply chain. As the nation’s leading energy provider, NNPC Ltd. will continue to take all necessary steps to address the current situation and sustain its mission of ensuring reliable fuel availability nationwide.
){kind=link}