The Nigerian National Petroleum Company Limited is experiencing financial
strain, which has put considerable pressure on the company and poses a threat to
the sustainability of fuel supply.

Its Chief Corporate Communications Officer, Olufemi Soneye, in a statement
yesterday, acknowledged reports regarding the company’s significant debt to
petrol suppliers, noting that the financial strain had placed considerable pressure
on the company and posed a threat to the sustainability of fuel supply, leading to
the incessant fuel queues and scarcity situation across the country.

Soneye added that the company was however actively collaborating with relevant
government agencies and other stakeholders to maintain a consistent supply of
petroleum products nationwide.

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