The Nigerian National Petroleum Company Limited (NNPCL) has acknowledged its significant debt to petrol suppliers, warning that this financial burden threatens the sustainability of fuel supply.
NNPCL spokesman, Olufemi Soneye, emphasized that the company is working with government bodies to maintain fuel availability nationwide.
Since Nigeria’s refineries are non-functional, the country relies on imported petrol, with prices tripling after the removal of subsidies in May 2023.
Oil marketers report rising landing costs, suggesting that the government is covering the price gap to maintain current rates.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.