The Nigerian National Petroleum Company Limited (NNPC Ltd) is compelled to respond to a misleading report in the media alleging inflated subsidy claims totaling N3.3 trillion. We categorically deny this allegation and reaffirm our commitment to transparency and accountability in our business practices, aligned with international standards.
According to Olufemi O. Soneye, Chief Corporate Communications Officer,NNPC Ltd, Abuja, all subsidy claims made by NNPC Ltd are verifiable, and supporting records and documents have been submitted to relevant authorities and agencies. We are unaware of any audit or investigation into our subsidy claims and consider these allegations to be baseless and imaginative.
As a commercially driven entity operating under the Petroleum Industry Act (PIA), we resist any attempts to politicize our operations. Our TAPE mantra guides us in upholding transparency, accountability, and performance excellence, and we have regularly engaged external auditors to review our financial records.
I wish to emphasize that NNPC Ltd will not be drawn into the politics of fuel subsidy, and I urge media practitioners to exercise restraint and verify information before publication, adhering to the ethical standards of journalism to avoid misleading the public.
LV