NNPC Limited Denies Allegations of Inflated Subsidy Claims

NNPC Limited Denies Allegations of Inflated Subsidy Claims
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In a statement posted on its X handle, the Nigerian National Petroleum Company Limited (NNPC Limited) refuted media allegations of inflating subsidy claims by N3.3 trillion. The company emphasized its commitment to transparency and accountability, adhering to international best practices.

NNPC Limited clarified that all previous subsidy claims are verifiable, with relevant documents provided to the appropriate authorities. The company stated it is unaware of any audit or probe regarding its subsidy claims, dismissing the allegations as baseless and imaginative fabrications by the media.

NNPC Limited Denies Allegations of Inflated Subsidy Claims
    Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari

    Reiterating its operational independence and adherence to the Petroleum Industry Act (PIA), the company vowed to stay clear of the political debates surrounding fuel subsidies. The company highlighted its history of inviting external auditors to review its financial records, underscoring its Transparency, Accountability & Performance Excellence (TAPE) mantra.

    Read Also: HURIWA Slams NNPC Board Reshuffle as Unconstitutional

    NNPC Limited urged media practitioners to verify information before publication to uphold journalism ethics and avoid misleading the public.

    Olufemi Soneye, Chief Corporate Communications Officer of NNPC Limited, stated this in Abuja on June 10, 2024.

    Source: NNPC Limited on X

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