NNPC Ltd disowns report on alleged inflated subsidy claims

The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Monday disowned reports in some sections of the media alleging that it inflated subsidy claims by N3.3trillion.

A statement issued by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., stated that the company had always conducted its businesses accountably and transparently, with international best practices.

Soneye said NNPC Ltd. had at no time inflated its subsidy claims with the Federal Government, noting that all previous subsidy claims by the company were verifiable, as relevant records and documents had been sent to relevant authorities and agencies.

He said that NNPC Ltd. was neither aware of any audit of its subsidy claims nor probe, noting that the ridiculous reports were the products of the 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,” Soneye added.