NNPC finally admits $6 billion debts responsible for fuel scarcity; ‘Layers of deceit’, lack of transparency”_ Atiku slams admission
The Nigerian National Petroleum Company Limited (NNPC LTD) has acknowledged on Sunday, September 1, recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
The company comfirmed this in a statement signed by Olufemi Soneye, the chief corporate communications officer, NNPC Ltd that it currently faces financial strain due to the supplying cost of petrol which it said is impacting supply sustainability.
This admission has intensified the fuel scarcity that has plagued the nation for six weeks.
It stated that in line with the Petroleum Industry Act (PIA), the company 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”.
This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply,” the statement read.
NNPCL said it is collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.
Former Vice President Atiku Abubakar has criticised the Nigerian National Petroleum Company Limited (NNPCL) for its lack of transparency following the company’s admission of a $6 billion debt to petrol suppliers.
And reacting to this statement, Atiku expressed deep concern over the situation through his media aide, Phrank Shaibu.
“What has become of these fictitious or phantom profits you once proudly proclaimed? Layers of deceit and lack of transparency have brought you to this unfortunate juncture,” Atiku said in a terse statement via X.
He further accused President Bola Tinubu’s administration of driving the NNPC to ruin, describing the current actions as the “ruthless dismantling of its assets.”
