NNPCL faces $6B debt to fuel suppliers, causing fuel scarcity and price hikes in Nigeria.

The Nigerian National Petroleum Company Limited (NNPCL) is grappling with a substantial debt of approximately $6 billion to fuel suppliers, threatening the stability of fuel supplies in Nigeria. This financial strain has led to ongoing fuel scarcity and increased prices, as suppliers hesitate to provide credit. Despite these challenges, NNPCL is committed to ensuring national energy security and is collaborating with government agencies to maintain a consistent supply of petroleum products.

September 01, 2024
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