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Fuel scarcity to worsen as NNPCL admits $6bn debt
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.
In a statement by its Chief Corporate Communications Officer, Olufemi Soneye, the state-owned energy company subtly confirmed that the debt was the reason for the fuel queues in filling stations across the country, stating that it is impacting supply sustainability.
It was reported in July that Nigeria’s debt to suppliers of petrol surpassed $6bn, making the NNPC struggle to cover the gap between fixed pump prices and international fuel costs.
A Reuters report stated that the national oil company began struggling early this year when late PMS payments surpassed $3bn.
The company had still not paid for some January imports, traders said, and the debt keeps piling up. Under contract terms, NNPC is meant to pay within 90 days of delivery.
“The only reason traders are putting up with it is the $250,000 a month (per cargo) for late payment compensation,” one industry source said.
Since June, Nigeria’s tenders to buy PMS were smaller, traders said.
From two in July, three more traders were said to have stopped supplying PMS to the NNPC as of now, making a total of five unpaid traders.
But Soneye, in August, denied that the NNPC owed international oil traders $6.8bn.
“NNPC Ltd does not owe the sum of $6.8bn to any international trader(s). In the oil trading business, transactions are carried out on credit, so it is normal to have outstanding amounts at certain times. However, NNPC Ltd, through its subsidiary NNPC Trading, maintains many open trade credit lines with several traders. The company is fulfilling its obligations on a first-in-first-out basis,” he stated.
The NNPC has given various reasons for the lingering fuel crisis, including bad weather and the inability of vessels to discharge, among others, but none of the measures it has taken stopped the queues at the filling stations.
On Sunday, the company made a U-turn in admitting that it was facing financial constraints.
“NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
“This financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply,” Soneye said in a statement titled, ‘NNPC Ltd Faces Financial Strain Due to PMS Supply Costs, Impacting Supply Sustainability.’
He added that the company was collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.
“In line with the Petroleum Industry Act, NNPC Ltd remains dedicated to its role as the supplier of last resort, ensuring national energy security.
“We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.”
As Nigerians continue to complain over the lingering fuel crisis since July, the sudden admission by the NNPC of a claim it had severally denied, fuelled speculations that the Federal Government might stop paying what it termed “under-recovery” or shortfall on imported petrol.
The company is said be contemplating taking the only way out of the debt challenges, which was to stop paying shortfalls that might no longer be sustainable.
When this happens, operators said the price of petrol would rise above N1,000 and interested accredited marketers would be able to import petrol, thereby removing the NNPC monopoly.
FG pays subsidies
Recently, the NNPC, being the sole importer of petrol, admitted that the Federal Government subsidised the current price of PMS, which the marketers recently put at N1, 117 per litre.
Though the NNPC denied paying fuel subsidies to marketers in the last nine years, it said the government allowed it to sell at a price below the landing cost.
The Chief Financial Officer of the company, Alhaji Umar Ajiya, stated this in Abuja when the company presented its 2023 report.
“In the last eight to nine years, NNPC has not paid anybody a dime as subsidy; no one has been paid a kobo by NNPC in the name of subsidy. No marketer has received any money from us by way of subsidy.
“What has been happening is that we have been importing PMS, which has been landing at a specific cost price, and the government tells us to sell it at half price. So, the difference between the landing price and that half price is a shortfall.
“And the deal is between the Federation and NNPC to reconcile. Sometimes, they give us money, so there is no money exchanging hands with any marketer in the name of subsidy,” he said.
He stated that credit lines were prevalent in downstream businesses based on the worldwide commercial system.
He added that the company was in an open credit agreement with PMS suppliers in the past, with term-line contracts for payment.
Also, Dapo Segun, the Executive Vice President of Downstream at NNPCL, said that establishing an open credit agreement with suppliers spoke volumes about the credibility the national oil company had built over time.
“Concerning the outstanding to the suppliers, it is not in that magnitude that has been put out, it is lower than the $6.8bn
“What really matters is the relationship between us and our suppliers to ensure that we keep faith in making these payments to our suppliers, which we have done over time.
“You would understand that it is not a static figure, and I wouldn’t want to quote any figure. When we make payments, it goes down, and when they supply products, it goes up. It is a dynamic way, but the most important thing is to ensure that we continue to make PMS available across the country,” he said.
According to the NNPC, being the only importer of petrol, the Federal Government pays it to sell fuel to Nigerians at a subsidised rate.
The Methodist Church Nigeria has honoured the General Manager of the Enugu State Community and Social Development Agency (CSDA), Hon. Monday Diamond Ani, with the prestigious “Apostle of Faith Award” in recognition of his outstanding humanitarian services and contributions to community development.
The award was presented by the Methodist Diocese of Akegbe, Aninri and Awgu Archdiocese (AAA) under the leadership of Rt. Rev. C. Orji, the Methodist Bishop of AAA Diocese, Enugu.
According to the Church, the honour was bestowed on Hon. Ani in acknowledgment of his selfless commitment to community development, social welfare, and humanitarian service over the years. The Church noted that his contributions have transcended political considerations and have positively impacted countless lives across communities.
His consistent humanitarian interventions have earned him the popular title “Odoziobodo”, meaning “one who builds and restores communities.”
Hon. Ani is widely regarded as a passionate advocate for community service, driven by a desire to improve living standards and promote love, unity, and a sense of
belonging among the people. His dedication reflects Christ’s teaching on the greatest commandment—love for God and love for one’s neighbour—placing service to humanity at the centre of purposeful living.
Due to his unavoidable absence, the award was received on his behalf and later presented to him at his office by Dr. Okechukwu Animba, Vice President (South-East) of the Senior Staff Association of Nigerian Universities (SSANU).
Responding to the honour, Hon. Ani expressed profound gratitude to Rt. Rev. C. Orji and the entire Methodist Diocese for recognising his humanitarian efforts. He prayed for God’s continued grace and strength to serve humanity and touch more lives through his work.
He also appreciated his principal, the Executive Governor of Enugu State, Dr. Peter Mbah, for appointing him to lead the CSDA, an agency charged with driving community interventions and sustainable development across the state.
When the Enugu State House of Assembly adopted the report of its Special Committee on Land Matters and Disputes in 2024, many observers described it as a watershed moment in the long-running controversy surrounding the Centenary City land in Amechi and Obeagu communities.
The report attracted national attention because it tackled a dispute that had generated numerous court cases, allegations of intimidation, destruction of property, community unrest, and claims involving some of the most influential figures in the state.
For many residents of Amechi and Obeagu, the Assembly’s intervention provided the first official platform where their grievances appeared to receive impartial consideration. The committee’s findings were widely commended for their detailed examination of the circumstances surrounding the acquisition and development of over 1,097 hectares of ancestral land.
At the heart of the controversy was the allegation that Private Estates International West Africa Limited (PEIWA), operating under a development agreement with the Enugu State Government, relied on questionable documents to assert rights over vast portions of land originally linked to a proposed university project initiated during the administration of former Anambra State Governor, Dr. Jim Nwobodo.
After reviewing submissions from the parties, the Assembly committee identified several inconsistencies in documents connected with the acquisition process. Among its findings were concerns regarding the authenticity of a survey plan purportedly prepared for the “Permanent Site of Enugu State University of Science and Technology” in 1985, despite the fact that Enugu State had not yet been created at that time.
Controversial Enugu Centenary Land: A Daniel Has Come To Judgement
The committee also questioned the authenticity of signatures and official endorsements appearing on key documents, including survey records, gazette notices, and correspondences allegedly executed on behalf of traditional authorities in Amechi and Obeagu communities.
Based on these findings, the committee concluded that the host communities had established that they were not properly carried along in the acquisition process and recommended dialogue, compensation, government intervention, and a comprehensive audit of lands developed under the Centenary City project.
At the time, many hailed the report as evidence that the legislature was willing to confront powerful interests in defence of justice and accountability.
Two years later, events appear to have given fresh significance to those findings.
Today, Kingsley Eze, Chamberlin Mbachu and Private Estates International (W.A.) Limited are facing criminal charges before the Federal High Court, Enugu, in connection with the alleged forgery of a survey plan linked to the disputed acquisition of ancestral lands in Amechi and Obeagu communities.
According to the charge sheet in Charge No. FHC/EN/CR/84/2025, the defendants are accused of conspiring to forge a survey plan titled “Permanent Site of Enugu State University of Science and Technology” purportedly dated 1985.
The prosecution alleges that the defendants knowingly made or uttered the survey plan as a genuine document despite its alleged falsity. The offences are said to be punishable under relevant provisions of the Miscellaneous Offences Act.
The criminal charges have drawn renewed attention to the conclusions reached by the Enugu State House of Assembly in 2024, particularly its observations regarding inconsistencies surrounding the same survey plan and related acquisition documents.
The developments have also prompted further advocacy from civil society organisations. The Rule of Law and Accountability Advocacy Centre (RULAAC) has called on the Inspector-General of Police to direct the Police Monitoring Unit to take over investigations and prosecutions connected with the dispute, investigate allegations of misconduct against certain police officers, and review criminal proceedings allegedly used for harassment and intimidation.
In a separate petition dated May 28, 2026, RULAAC also urged the Inspector-General of Police to intervene in two criminal cases pending before the Federal High Court, Enugu, citing repeated failures by law enforcement authorities to produce defendants for arraignment.
The cases include Charge No. FHC/EN/CR/84/2025, IGP v. Kingsley Eze & 2 Others, and Charge No. FHC/EN/CR/222/2024, IGP v. Alex Ifeadi & 2 Others.
As the criminal proceedings continue, many observers believe the matter has entered a decisive phase. The allegations that were once the subject of community petitions, legislative inquiries and public debate are now before a court of law for determination.
Whether the Assembly’s 2024 report marked the beginning of accountability or merely one chapter in a much longer struggle remains to be seen. What is clear, however, is that the issues raised by the Amechi and Obeagu communities have not faded away. Instead, they have evolved into a legal test that could shape public confidence in land administration, governance and the rule of law in Enugu State for years to come.
If the legislative findings, criminal investigations and court proceedings ultimately converge on the truth, then many residents may indeed conclude that, at long last, a Daniel has come to judgment.
Son of the late head of state and former Minister of Defence, Chief Thomas Aguiyi-Ironsi, in a letter of remembrance and solidarity written on behalf of the Aguiyi-Ironsi family to the Fajuyi family, marking the 60th anniversary of his death, said July 29, 2026, will be a solemn occasion to honour a soldier they described as “a war hero who offered himself as a sacrificial lamb for the unity and integrity of the nation.”
The family recalled that Lt Col Fajuyi, then Military Governor of the Western Region, made the ultimate sacrifice in 1966 when mutinous soldiers abducted him alongside Maj Gen Aguiyi-Ironsi in Ibadan during the military counter-coup.
They stated that Fajuyi, in a defining moment of conscience, chose honour over personal safety and refused to abandon his guest and superior, a decision the family said reflected the highest ideals of loyalty, integrity, and military brotherhood.
According to the statement, his action transformed him into a national martyr whose legacy continued to inspire unity, courage, and selfless service.
The Aguiyi-Ironsi family also expressed sympathy with the Fajuyi family, acknowledging the enduring pain of their loss, while praying for continued strength, comfort, and peace.
The statement further stated, “He did not run. He did not hide. He chose to stand. In that sacrificial decision lay the essence of his greatness.”
The family called on government institutions, military authorities, and custodians of national memory to ensure sustained recognition and support for the Fajuyi family, stressing that his sacrifice remained a national responsibility to remember and honour.
It urged Nigerians to draw inspiration from his life and death, noting that his legacy continues to challenge the nation to uphold unity, courage, honour, and selfless service.
Fajuyi was killed on July 29, 1966, during the military counter-coup in Ibadan alongside Aguiyi-Ironsi.
By Okey Maduforo Awka
The emergence of Chief Ikeagwuonu Ugochinyere as the Minority Leader of the Federal House of Representatives has been described as a vindication of the fact that the Action People’s Party (APP ) represents the collective interests of the Nigerian masses.
Recall that recently, Ugochinyere was elected as the Minority Leader of the party in a keenly contested election of the Federal House of Representatives.
According to a statement by the Chairman Anambra state chapter of the APP Chief Chijioke Okeke, Ugochinyere had been consistent in offering himself as the voice of the people and that of the voiceless.
“It did not come to us as a surprise that our great leader High Chief Ugochinyere became the Minority leader of the Federal House of Representatives because he has always been consistent and focus towards providing himself as the only vent for the masses at the Green Chambers”
“We know his pedegre as a politician as well as a leader and he has remained focus in ensuring that the voiceless are heard and this is also a vindication of our party’s unflinching desire to provide a veritable platform in a democratic process”
Okeke further stated that the fifth columnists who had attempted to deregister the party have been put to shame adding that the party shall continue to champion the interests of the Nigerian people.
“They made failed attempt at deregistering our great party but they lost sight of the fact that the APP is firmely rooted on ground and has all that it takes to drive the wishes and aspirations of the Nigerian populace and with this recent development our traducers have been put to shame and our party is on the path of further greatness “. Okeke noted .
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