The Nigerian National Petroleum Company Limited (NNPC LTD) has confirmed that it currently faces financial strain due to the supplying cost of petrol which it said is impacting supply sustainability.
The company disclosed this in a statement signed by Olufemi Soneye, the chief corporate vommunications officer, NNPC Ltd.
Read also: PENGASSAN blames fuel scarcity on weak distribution link, others
It stated that in line with the Petroleum Industry Act (PIA), the company remains dedicated to its role as the supplier of last resort, ensuring national energy security.
“We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide. “NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
Read also: NNPC’s Naira Profit Masks Dollar Decline
This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply,” the statement read.
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