NNPC Denies Alleged 3.3Trn Inflated Subsidy Claims

By Sunday Etuka, Abuja

The Nigerian National Petroleum Company Limited (NNPC LTD) has dismissed the media report alleging that it inflated subsidy claims by N3.3trillion.

Mr. Olufemi Soneye, the Chief Corporate Communications Officer of the National Oil Company dismissed the allegation in a statement on Monday.

Contrary to the allegation, he said, “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”.

- Advertisement -

He explained that all previous subsidy claims by the Company are verifiable as relevant records and documents have been sent to relevant authorities and agencies.

Mr. Soneye also clarified that the company “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”.

He noted that the NNPC Ltd would resist any attempt to drag it 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).

He maintained that it is on record that in line with its Transparency, Accountability and Performance Excellence (TAPE) mantra, the company has, on several occasions, independently invited external auditors to review its books.

He, therefore, 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.

Related Articles

Leave a Reply

Your email address will not be published.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

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button