The Nigeria National Petroleum Company Limited (NNPCL) has admitted that its financial strain may affect the sustainability of petrol supply.
Its admittance came on the heels of reports that it is indebted to suppliers to the tune of about $6 billion.
According to the reports, supply agents have been reluctant to make the product available.
The development has forced the oil giant to resort to stock rationing and to prevail on major suppliers not to cut off supply.
No fewer than five vessels meant for Nigeria have refused to discharge fuel to NNPCL due to fear of non-payment, one of the major suppliers said at the weekend.
It was learnt that the $300 million bailout by the Federal Government was not enough for the company to sustain petrol supply nationwide.
