Former Vice President Atiku Abubakar has taken aim at the Nigerian National Petroleum Company Limited (NNPCL) for what he describes as a blatant lack of transparency. His comments come in the wake of NNPCL’s recent admission of a staggering $6 billion debt owed to petrol suppliers, a development that has compounded the nation’s ongoing fuel scarcity crisis.
The debt revelation was confirmed by the Chief Communications Officer of NNPCL, Mr. Olufemi Soneye, on Sunday, September 1. Soneye detailed the severe financial strain this debt has imposed on the company, acknowledging that it has severely hampered the NNPC’s ability to maintain a steady fuel supply across the country.
“NNPC Ltd has acknowledged recent reports regarding its significant debt to petrol suppliers. This financial strain threatens the sustainability of fuel supply,” Soneye stated, highlighting the precarious position in which the company finds itself.
NNPCL Financial Strain May Lead to a Hike in Petrol Prices
Atiku, who has consistently been vocal about his concerns regarding the management of the NNPC, did not mince words in his reaction. Through a statement issued by his media aide, Phrank Shaibu, the former Vice President criticized the NNPC’s handling of its financial obligations and accused the current administration of mismanagement.
“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 remarked in a terse statement via X (formerly Twitter).
He further accused President Bola Tinubu’s administration of driving the NNPC to ruin, describing the current actions as the “ruthless dismantling of its assets.” Atiku’s remarks reflect growing concerns among critics that the NNPC’s financial woes could have far-reaching implications for the nation’s economy and energy security.
The ongoing fuel scarcity, now in its sixth week, has caused widespread disruption across Nigeria, with long queues at petrol stations becoming a common sight. The scarcity has sparked public outcry, with many Nigerians questioning the government’s handling of the situation and demanding greater transparency from the NNPC.
Atiku’s criticisms add to the mounting pressure on the NNPC and the Tinubu administration to address the crisis and provide clear answers regarding the state of the nation’s fuel supply. As the situation unfolds, the public will be watching closely to see how the government responds to these concerns and whether any concrete steps will be taken to resolve the crisis and restore confidence in the NNPC’s operations.
