NNPC Ltd Expresses Concern Over Financial Strain, PMS Supply Costs And Supply Sustainability

The Nigeria National Petroleum Corporation Limited (NNPC Ltd) has raised concerns about its continuing sustenance of PMS supply due to its current financial strain.

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

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

However, he said 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.

“We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide”, he said.