June 19, 2024

NNPC refutes N3.3 trillion inflated subsidy claims

0

Ilenre Irele

The Nigerian National Petroleum Company Limited, NNPC, has refuted claims of N3.3 trillion inflated subsidy claims.

Reports carried by cross section of the media revealed that a forensic audit conducted by KPMG, a global accounting firm, that had uncovered a significant discrepancy in the fuel subsidy claims made by the NNPC.
The audit revealed that NNPC inflated its fuel subsidy claims by a staggering N3.3 trillion, according to a report done by iWitnessLive
NNPC however said It conducts its businesses accountably and transparently in keeping with international best practices and has, reiterating that at no time, it has inflated its subsidy claims with the Federal Government.
In a statement made available to SweetcrudeReports, NNPC said: “NNPCL conducts its businesses accountably and transparently in keeping with international best practices and has, at no time, it has 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”.

Leave a Reply

Your email address will not be published. Required fields are marked *