The Nigerian National Petroleum Company Limited (NNPC Ltd) on Sunday said its ability to sustain regular supply of petrol across Nigeria is under threat.
The oil company said it is under financial duress due to Premium Motor Spirit (PMS) supply costs, impacting supply sustainability.
Olufemi Soneye, the chief corporate communications officer of NNPC Ltd, disclosed this in a statement on Sunday.
The NNPC Ltd acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
“This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply,” Mr Soneye said.
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