Home Business Energy NNPC Ltd Disclaims Report On Alleged Inflated Subsidy Claims 
Energy

NNPC Ltd Disclaims Report On Alleged Inflated Subsidy Claims 

Share
Share

The Nigerian National Petroleum Company Limited (NNPC Ltd) on Monday debunked report in a section of the media alleging that it inflated subsidy claims by N3.3trillion.

The corporation in a statement made available by Olufemi O. Soneye, Chief Corporate Communications Officer, NNPC Ltd, that it wishes to state that: “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. All previous subsidy claims by the Company are verifiable as relevant records and documents have been sent to relevant authorities and agencies. 

“NNPC Ltd 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 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.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

Lagos Targets 6 Gigawatts In Three To Boost Power Supply

Lagos State has begun a journey to achieve energy independence with the...

Seplat Name Fastest Growing Nigerian Independent Energy Company

Nigeria’s foremost energy sector publication, Energy Times Newspaper, has named Seplat Energy Plc as...

Update on the Crude and Refined Product Sales in Naira Initiative

The Technical Sub-Committee on the Crude and Refined Product Sales in Naira...

NNPC Ltd Announces New Senior Management Team

Following the appointment of the Group Chief Executive Officer and Board of...