NNPC Denies Claims of Inflated N3.3trn Subsidy Payments

June 10, 2024
subsidy removal tinubu kyari's personal interests

By Adedapo Adesanya

The Nigerian National Petroleum Company (NNPC) Limited has disclaimed report on alleged inflated subsidy claims of up to N3.3 trillion.

In a statement signed by Mr Olufemi Soneye, the Chief Corporate Communications Officer of the state-owned oil firm, the group said it was a transparent organisation and that all claims to subsidy payments in the past could be verified.

The statement “notes with dismay a report in a section of the media alleging that it inflated subsidy claims by N3.3 trillion, and 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 from there 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 a commercial basis and 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,” it said.

NNPC called 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.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Leave a Reply

Rotary District 9110 Eye Hospital
Previous Story

Five Children Regain Sight in Ogun After Cataract Surgery

Dangote Refuse Compactor Trucks
Next Story

Lagos Orders Extra 100 Refuse Compactor Trucks from Dangote

Latest from Economy