Financial strain hits NNPCL over PMS supply costs, impacting sustainability - ITREALMS

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

According to the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, 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, remained 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.