NNPC Denies Report of Alleged $3.3Trn Inflated Subsidy Claims



The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied a report to the effect that it inflated subsidy claims by N3.3trillion.
This is contained in a statement by Olufemi Soneye,its Chief Communications Officer.
Full statement below:

The NNPCL wishes to state that:
NNPC Ltd conducts its businesses accountably and transparently in keeping with international best practices and has, at no time, inflated its subsidy claims with the Federal Government. All previous subsidy claims by the Company are verifiable as relevant records and documents have been sent to relevant authorities and agencies.
NNPC Ltd is neither aware of any audit of its subsidy claims nor probe ensuing therefrom and wishes to state categorically that both ridiculous claims are products of the febrile imagination of the reporters and their respective media houses.
NNPC Ltd will resist any attempt to drag the Company into the apparent politics of fuel subsidy as it currently operates on commercial basis and on the express provisions of the Petroleum Industry Act (PIA).
It is on record that in line with its Transparency, Accountability & Performance Excellence (TAPE) mantra, NNPC Ltd. has, on several occasions, independently invited external auditors to review its books.
NNPC Ltd calls on media practitioners and media houses to exercise restraint and verify information before publication in keeping with the ethics of the noble profession of journalism to avoid misleading the public.

ALSO READ:NNPC Sustains March Towards Regulatory Excellence

Kindly support the growth of journalism in Nigeria

Reactions to stories published can be sent to us at [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *