NPA Secures N2.1bn NNPC’s Debt Payment

The Nigerian National Petroleum Corporation (NNPC) has promised to pay off all debts which the corporation owes the Nigerian Ports Authority (NPA).

NNPC group managing director, Maikanti Baru made this disclosure while playing host to the Managing Director, NPA, Hadiza Bala Usman in his office.

Baru, said that the corporation would redeem the debt which it owed the NPA for services the Authority rendered to the NNPC between 2017 till date.

The NPA Assistant General Manager, Corporate and Strategic Communications, Isah Suwaid said in a statement that the amount was N2.1billion, saying the whole debt would be settled, this week.

The new measure which is to foster better working relationship with the Corporation, it was further learnt, also necessitated a pledge by the NPA not to bill the NNPC henceforth, for services not truly offered to the Corporation, even as the NNPC subsequently assured of steady and prompt payments for services rendered.

He said that the Corporation may be constrained to approach the NPA Board for a soft landing, in respect of the payment of ‘legacy debts’ the Corporation still owes the NPA, some of which had been outstanding for more than 20 years.

While emphasizing the need for the debt repayment, Hadiza said her visit to the NNPA was borne out of the desire to strengthen the synergy and collaboration between both Agencies, noting that with the planned dredging of the Escravos and Ejigbo area in Lagos, there was a need for the Corporation to bury its pipelines deeper to allow for effective dredging activities to enable deeper draft for bigger vessels to access Warri and Lagos in a bid to enhance the supply of petroleum products and other larger vessels coming into the country.