The Nigerian National Petroleum Company Limited (NNPCL) has attributed the unstable fuel supply in Nigeria to mounting financial challenges, primarily driven by increasing debts owed to fuel suppliers.
In a statement released on Sunday, Olufemi Soneye, NNPCL’s Chief Corporate Communications Officer, emphasized the financial burden on the company, which has been exacerbated by the rising costs of procuring Premium Motor Spirit (PMS).
The statement expressed concerns over the potential impact of these challenges on the stability of the nation’s fuel supply.
Despite these obstacles, NNPCL reassured the public of its commitment to upholding its responsibilities under the Petroleum Industry Act (PIA), including its role as the supplier of last resort to maintain energy security. The company also affirmed that it is collaborating with government agencies and stakeholders to ensure continuous fuel availability across the country.
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