The Nigerian National Petroleum Company Limited (NNPCL) has officially commenced the process of settling its $6 billion debt
The Nigerian National Petroleum Company Limited has officially commenced the process of settling its $6 billion debt, according to a statement made by Wale Edun, the Minister of Finance and Coordinating Minister for the Economy.
Edun addressed concerns about the NNPCL’s financial situation, which had become stressed due to its outstanding obligations to suppliers. “The reality is that although the subsidy was removed on May 29, 2023, and is no longer on the government’s balance sheet, it did rear its head—not in terms of petrol subsidy, but foreign exchange subsidy, which was borne elsewhere, mainly by NNPC,” Edun said.“What I can say about their situation now is that they have a route to paying down their payables, and I’m sure that in no time, they will start.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NNPCL has commenced process of paying $6 billion debtThe Nigerian government, through the Finance Ministry, has announced that the Nigerian National Petroleum Company Limited (NNPCL) has commenced the process of paying off its debt.
Read more »
NNPCL, Dangote Refinery and a livable Nigeria, By Babafemi A. BadejoPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
Allow independent marketers to lift petrol, Reps charge NNPCL, Dangote RefineryThe House of Representatives on Thursday urged the Federal Government to direct the Nigerian National Petroleum Corporation Limited and the Dangote Refinery to allow independent marketers to commence the lifting of fuel from the newly established refinery The resolution was reached following the adoption of a motion of urgent public importance...
Read more »
Fuel scarcity looms as NNPCL portal closure delays petrol supplyPetroleum marketers have raised an alarm that the Nigerian National Petroleum Company Limited, NNPCL, portal used for the purchase of Premium Motor Spirit (Petrol) has been shut down against dealers, making it impossible to apply for the commodity.
Read more »
NNPCL delivers 48.6m barrels of crude to Dangote RefineryThe Nigerian National Petroleum Company Limited, NNPCL, has delivered a total of 48.6 million barrels of crude oil to Dangote Petroleum Refinery in the past 10 months, Vanguard investigations have revealed.
Read more »
CNPP Accuses NNPCL Of Sabotaging Nigerian Economy With Interference In Locally Refined Petrol DistributionThe Conference of Nigeria Political Parties (CNPP) has condemned the Nigerian National Petroleum Company Limited (NNPCL)'s interference in the distribution of locally refined petroleum products, calling it a form of national economic sabotage. The CNPP urges NNPCL to cease its meddling and allow refineries like Dangote Refinery to operate freely, ensuring competitive pricing and supply.
Read more »