No end in sight to fuel scarcity as NNPC admits financial strain

Amid a shortage of petrol that has lasted for several weeks on end, the Nigerian National Petroleum Company Limited has said it is facing a financial strain due to supply costs.

In a statement on Sunday, it said: “NNPC Ltd. has 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.

“In line with the Petroleum Industry Act, 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.”