NNPC Debt Rise Sharply to ₦30.3tn Amid Lingering Subsidiary Strain
The Nigerian National Petroleum Company Limited (NNPCL) is grappling with rising internal financial pressures as outstanding obligations owed to the company by its subsidiaries and related entities surged to ₦30.30 trillion in 2024, highlighting persistent liquidity challenges despite improved profitability. Details from NNPCL’s 2024 audited financial statements show that inter-company receivables increased by ₦12.52 trillion,