NNPC Disclaims Report on Alleged N3.3 Trillion Inflated Subsidy Claims

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC ) yesterday said it noted with dismay a report in a section of the media alleging that it inflated petrol subsidy claims by N3.3 trillion.

The national oil firm 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.

All previous subsidy claims by the company, a statement signed by the Chief Corporate Communications Officer, Olufemi Soneye, said, are verifiable as relevant records and documents had been sent to relevant authorities and agencies.

“NNPC 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.

“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 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.