We face financial strain due to PMS supply costs – NNPC

Umar Idris Shuaibu, Kano

Nigerian National Petroleum Company Limited (NNPCL) has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.

Chief Corporate Communications Officer at NNPCL, Olufemi Soneye, in a statement issued on Sunday, September 1, 2024, disclosed: “This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.”

He pointed out that, “in line with the Petroleum Industry Act (PIA), NNPC Ltd remains dedicated to its role as the supplier of last resort, ensuring national energy security”.

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He added: “We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.”