The Nigerian National Petroleum Company Limited (NNPCL) pledged a total of 221,000 barrels of crude per day to offset its $6.55 billion debt incurred in 2023, according to the company’s audited financial statements.
It was not stated how long these barrels of crude would be supplied to the beneficiaries.
The NNPCL’s financial statement, which was unveiled during a press briefing in Abuja on Monday, showed that of the total debt, $1 billion was for the rehabilitation of old and new Port Harcourt Refinery, $1 billion for acquisition of Dangote Refinery equity stake, $3.3 billion for forex stabilisation, $950 billion for ‘general corporate purpose’ and $300 million for the acquisition of OML 86/88.
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