Atiku knocks NNPCL over $6bn debt owed petrol suppliers

Former Vice President Atiku Abubakar has condemned the Nigerian National Petroleum Company Limited (NNPCL) for its lack of transparency after the company disclosed a $6 billion debt owed to petrol suppliers.

The revelation, made public on Sunday, September 1, has exacerbated the ongoing fuel scarcity that has persisted for six weeks.

NNPCL’s Chief Communications Officer, Mr. Olufemi Soneye, confirmed the debt, noting the significant financial pressure it has placed on the company’s operations.

“NNPC Ltd has acknowledged recent reports regarding its significant debt to petrol suppliers. This financial strain threatens the sustainability of fuel supply,” Soneye stated.

Despite the challenges, he assured that NNPCL remains committed to its role as the supplier of last resort, as mandated by the Petroleum Industry Act (PIA), and is collaborating with government agencies to ensure a stable supply of petroleum products across the country.

Reacting to the news, Atiku expressed serious concern through his media aide, Phrank Shaibu.

“What has become of these fictitious or phantom profits you once proudly proclaimed? Layers of deceit and lack of transparency have brought you to this unfortunate juncture,” Atiku said in a terse statement via X.

He also accused President Bola Tinubu’s administration of leading the NNPC towards ruin, describing their actions as the “ruthless dismantling of its assets.”

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