The Nigerian National Petroleum Company Limited (NNPC Ltd.) has issued a statement refuting recent media allegations that it inflated subsidy claims by N3.3 trillion. NNPC Ltd. emphasized its commitment to accountable and transparent business practices, consistent with international standards.
In a statement Chief Corporate Communications Officer, NNPC Ltd. Olufemi Soneye said NNPC Ltd. maintains that all its subsidy claims are verifiable, with relevant records and documents submitted to the appropriate authorities. The company asserts that it has never inflated its subsidy claims to the Federal Government.
He said the company declared it is unaware of any audit or probe concerning its subsidy claims, describing the allegations as unfounded and the result of speculative journalism.
NNPC Ltd. affirmed its stance against being drawn into the politics surrounding fuel subsidy issues, emphasizing its operation on a commercial basis under the Petroleum Industry Act (PIA).
Highlighting its Transparency, Accountability & Performance Excellence (TAPE) initiative, NNPC Ltd. noted that it has regularly invited external auditors to independently review its financial records.
The statement urged media practitioners to verify information before publication to prevent misleading the public, in adherence to journalistic ethics.
