$6 billion debt: Atiku slams NNPC for lack of transparency

Former Vice President Atiku Abubakar has slammed the Nigerian National Petroleum Company Limited (NNPCL) over its $6 billion debt to petrol suppliers.

After months of denial, NNPCL on Sunday admitted that the cause of the country’s prolonged fuel shortage was debts to suppliers.

Confirming the debt in a statement, NNPCL Head of Communications, Mr. Olufemi Soneye, said severe financial pressure on the company’s operations had made fuel supply inconsistent.

Soneye also acknowledged recent reports of significant debts to fuel suppliers, but assured that NNPCL remains committed to its role as supplier of last resort as outlined in the Petroleum Industry Act (PIA).

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He added that his party is working with government agencies to ensure the availability of consistent supplies of petroleum products throughout Indonesia.

Atiku, who reacted to the development in a statement issued on Monday by his media aide, Phrank Shaibu, expressed concern over the situation and the lack of transparency from NNPCL.

He said: “What happened to the fictitious or imaginary profits you used to be proud of? Layers of deception, lies and lack of transparency have brought you to this unfortunate point.”

He also accused President Bola Tinubu’s administration of leading NNPCL to ruin, describing the current action as a ruthless dismantling of its assets.

$6 billion debt: Atiku slams NNPC for lack of transparency first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.