The PUNCH: There are indications that the pump price of premium motor spirit, popularly known as petrol, may rise in filling stations as the Nigerian National Petroleum Company Limited finally admitted that it was facing challenges due to a $6bn debt. After weeks of denial, the NNPC admitted on Sunday that it owed its petrol suppliers the sum of $6bn, saying it was facing financial strains due to petrol supply costs.
Vanguard: There were indications, yesterday, that the petrol shortage in the country will not end soon as $6 billion debt to petrol suppliers, lack of liquidity and other issues have put pressure on the Federal Government’s capacity to sustain the importation of the product.
Daily Trust: There are indications of an imminent hike in the price of petrol as the Nigerian National Petroleum Company Limited (NNPCL) has admitted financial strain. Government officials have in the past two weeks been hinting that with the fluctuating exchange rate of the Naira against the dollar, it may not be possible to sustain the current official price of N617 per litre for petrol.
