…Says, it is impacting supply sustainability
The Nigeria National Petroleum Corporation Limited (NNPC Ltd), on Sunday, September 1, 2024, said that it is facing dome financial strains due to PMS supply cost which is impacting sustainability.
The NNPC which stated this while acknowledging recent reports in national newspapers regarding the company’s significant debt to petrol suppliers, said that the financial strain has placed considerable pressure on it and poses a threat to the sustainability of fuel supply.
A statement by Mr Femi Soneye, Chief Corporate Communications Officer of the Corporation, said that in line with the Petroleum Industry Act (PIA), the NNPC Ltd remains dedicated to its role as the supplier of last resort, ensuring national energy security.
Mr Soneye said that the NNPC is actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.
