The Nigerian National Petroleum Company, NNPC Ltd. has confirmed it is indeed grappling with significant financial challenges due to the rising costs of Premium Motor Spirit (PMS) supply.
The company, in a statement issued by Olufemi Soneye, the Chief Corporate Communications Officer confirmed recent reports indicating a substantial debt owed to petrol suppliers, a situation that is putting immense pressure on its operations and raising concerns about the sustainability of fuel supply across the country.
Despite these financial hurdles, NNPC Ltd. said it remains committed to its responsibility as the supplier of last resort, as mandated by the Petroleum Industry Act (PIA).
The company assured the public that it is working closely with government agencies and key stakeholders to ensure the continued availability of petroleum products nationwide.
