Nigerian National Petroleum Corporation (NNPC) has assured Nigerian Ports Authority (NPA) that all outstanding debt racked up since 2017 will be cleared. This was agreed in a meeting where Hadiza Bala-Usman, Managing Director of the NPA, paid a courtesy visit to Maikanti Baru, Group Managing director of NNPC, in Abuja.
The debt, according to the NPA, is around N2.1 billion, and it is for services that it rendered to the NNPC during the time frame. In a statement, the NPA assured that moving forward, the NNPC would not be charged for services not offered, in order to foster a better working relationship between both parties.
The NNPC assured the NPA that measures would be put in place to effect a steady and prompt payment schedule for services rendered to it by the NPA. The NNPC stated that it may be constrained to approach the NPA Board for a soft landing on payment of legacy debts the Corporation owes the NPA, some of which date back to as far as two decades.
Bala-Usman said her visit to the NNPC was a sign of solidarity between the NNPC and NPA. Both agencies expect stronger synergies and smoother collaborations henceforth.
Ms Bala-Usman urged the oil corporation to bury its pipelines deeper to ensure effective dredging activities being planned in the Escravos and Ejibgo areas. This will subsequently enhance the supply of petroleum products and improved access to bigger vessels into Warri and Lagos.
Baru also hailed the NPA for securing the approval of the Federal Executive Council (FEC) for the dredging of the Escravos channel, stressing that it would stimulate economic activities in the area.
Image Credit:Economic Confidential
