NNPC to settle N2.1bn owed NPA this week

The Nigerian Ports Authority has stated that all debts owed it by the Nigerian National Petroleum Corporation from 2017 to date, amounting to about N2.1bn, for services rendered to the national oil firm are to be settled this week.

This was contained in a statement made available to our correspondent by the NPA on Wednesday.

The agency stated that henceforth, the NNPC would not be charged for services not rendered, adding that the new measure was to foster better working relationship with the corporation.

The debt payment agreement was an outcome of discussions between the Managing Director, NPA, Mrs. Hadiza Usman; and the Group Managing Director, NNPC, Dr. Maikanti Baru, when the former paid the latter a courtesy visit in Abuja on Tuesday, the statement noted.

Baru assured the NPA boss that the corporation would subsequently ensure steady and prompt payment for services rendered to it.

He, however, added that the NNPC might be constrained to approach the NPA board for a soft landing on the payment of legacy debts the corporation owed the agency, some of which had been outstanding for more than 20 years.

Usman was quoted as saying that her visit to the corporation was borne out of the desire to strengthen the synergy and collaboration between both organisations.

She said that with the planned dredging of the Escravos and Ejigbo areas 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.