NNPC disclaims report on alleged N3.3trn inflated subsidy claims

The Nigerian National Petroleum Company Limited (NNPC Ltd.)  on Monday debunked media reported over an alleged N3.3 trillion inflated subsidy claims.

The corporation in a statement stated that it 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, stressing that all previous subsidy claims by the Company are verifiable, as relevant records and documents have been sent to relevant authorities and agencies.

According to the statement signed by Chief Corporate Communications Officer, NNPC Limited, Olufemi Soneye said the corporation is neither aware of any audit of its subsidy claims nor the 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 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,” the statement explained.

NNPC, however, 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.

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