NNPC Ltd faces financial strain due to PMS supply costs; It’s impacting supply sustainability – Management

NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.

This financial strain, according to a statement by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., “has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.”

He said further that the NNPC Ltd, in line with the Petroleum Industry Act (PIA), “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.”