The Nigerian National Petroleum Company Limited (NNPC Ltd) has refuted claims that it inflated subsidy payouts by N3.3 trillion.
The spokesman, Olufemi Soneye, in a statement on Monday, said the national oil company conducts its business accountably and transparently in accordance with international best practices.
The statement reads, “At no time has NNPC Ltd inflated its subsidy claims with the federal government. All previous subsidy claims by the company are verifiable, as relevant records and documents have been submitted to the appropriate authorities and agencies.
“NNPC Ltd is not aware of any audit or probe of its subsidy claims and categorically states that these claims are unfounded and the product of the reporters’ and media houses’ imaginations. NNPC Ltd will resist any attempt to drag the company into the politics of fuel subsidy, as it operates on a commercial basis and under 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 independently invited external auditors to review its books on several occasions. NNPC Ltd calls on media practitioners and media houses to exercise restraint and verify information before publication, in keeping with the ethics of journalism, to avoid misleading the public.”