The Nigerian National Petroleum Company Limited (NNPC) has accumulated N8.5 trillion in related-party balances with its refining subsidiaries as of December 2024, underscoring the deepening financial strain caused by Nigeria’s long-idle state-owned refineries. The figures, disclosed in NNPC’s latest financial statements, highlight how years of failed rehabilitation projects and non-performing assets have fuelled a growing … Continue reading NNPC’s Non-Operational Refineries Accumulate N8.5trn In Intra-Group Debt