Publisher of Oil & Gas Report, Toyin Akinosho, has said the controversy surrounding the Federal Government’s reported write-off of NNPC’s debts should not be misconstrued as proof that the national oil company is insolvent, stressing that the issue is rooted in accounting reconciliation rather than financial collapse.
Speaking during an interview with ARISE News on Tuesday, Akinosho said public outrage was understandable but cautioned against mischaracterising how profit, debt and reconciliation work in corporate accounting.
“I share the concern that most Nigerians genuinely feel that NNPC is punching below its weight,” he said. “So whenever we hear news like this, it’s something that everybody…