Nigeria’s state-owned oil company, NNPC Ltd, has revealed a staggering N4.56 trillion subsidy debt owed to it by the Federal Account Allocation Committee (FAAC). This enormous sum has sparked concerns about the financial burden on the nation.

NNPC Ltd’s disclosure has put the spotlight on the long-standing issue of subsidy payments, which have been a contentious topic in Nigeria’s oil and gas sector. The company’s claim of a significant shortfall raises questions about the management of public funds and the impact on the country’s economy.

Industry analysts believe that this massive debt could have far-reaching implications for Nigeria’s financial stability and the ability to invest in critical sectors. The government’s response to this revelation will be closely watched as the nation navigates its economic challenges.