The Nigerian National Petroleum Company Limited has acknowledged its substantial debt to petrol suppliers, noting that it jeopardizes the sustainability of fuel supply.
Reports have highlighted a $6 billion debt owed by NNPCL to these suppliers, which has exacerbated the ongoing petrol scarcity in Nigeria—a persistent issue since early 2024.
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The NNPCL has previously attributed supply shortages to logistics challenges, flooding, and other factors.
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However, in a statement on Sunday, NNPCL spokesman Olufemi Soneye said “this financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply”.
“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.”
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