NNPCL Admits Owing Suppliers $6 Billion Amid Fuel Scarcity

The Nigerian National Petroleum Company Limited, NNPCL, has admitted that financial strain poses threat to the sustainability of fuel supply.

In a statement on Sunday evening, September 1, the company, acknowledged recent reports in National Newspapers, regarding its significant debt to petrol suppliers.

According to reports, the debt which has risen to $6 billion has seen suppliers reduce the volume given to the Nigerian national oil company. The short in supply has led to a six-week long petrol scarcity across the country.