NNPCL under fire over $6 billion debt admission, see details

• The NNPCL finally admitted the company’s “significant debt to petrol suppliers”, saying it poses a threat to the sustainability of fuel supply
• Nigerians have not had it so good in 2024 as fuel queues have dotted filling stations across the country
• Atiku Abubakar alleged that the NNPCL is not transparent about the financial gains from fuel subsidy removal

Legit.ng journalist, Ridwan Adeola Yusuf, has over 9 years of experience covering politics and governance in Nigeria.

FCT, Abuja - The presidential candidate of the Peoples Democratic Party (PDP) in the 2019 and 2023 elections, Atiku Abubakar, has criticised the Nigerian National Petroleum Company Limited (NNPCL) for its alleged lack of transparency.

Legit.ng reports that this follows the NNPCL's admission of a $6 billion debt to petrol suppliers amid the lingering fuel scarcity problem.

Atiku Abubakar has criticised the NNPCL for its alleged lack of transparency following the company’s admission of a $6 billion debt to petrol suppliers. Photo credit: Atiku Abubakar
Source: Facebook

This admission made public on Sunday, September 1, has intensified the fuel scarcity that has plagued the nation for six weeks.

Olufemi Soneye, the spokesperson of the NNPCL, confirmed the debt, highlighting the severe financial strain it has imposed on the company's operations.

Meanwhile, Soneye assured that NNPCL is working with government agencies to ensure a consistent supply of petroleum products nationwide.

Reacting to the NNPCL's admission, Atiku expressed deep concern over the situation through Phrank Shaibu, his media aide.

Atiku's statement partly reads:

Furthermore, the former vice president accused the Bola Tinubu administration of driving the NNPCL to ruin.

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Atiku’s camp reacts as minister calls Tinubu “daddy”

Earlier, Legit.ng reported that AbdulRasheed Shehu, Atiku's special assistant on broadcast media, accused Mohammed Abubakar Badaru, the minister of defence, of "sycophancy".

In a video shared by the Nigerian Television Authority (NTA), Badaru, 61, could be seen shaking hands with Tinubu, 72, and heard saying, "welcome daddy". Reacting to the moment, Shehu mocked the minister.

Source: Legit.ng