The Nigerian National Petroleum Company (NNPC) Limited has refuted reports alleging that it inflated subsidy claims to the tune of N3.3 trillion.
In a statement on Monday, signed by Olufemi Soneye, Chief Corporate Communications Officer, the firm said all its previous subsidy claims were verifiable as relevant records and documents had been sent to relevant authorities and agencies.
It denied knowledge of any audit of its subsidy claims nor probe ensuing therefrom, adding that both “ridiculous” claims were products of the febrile imagination of the reporters and their respective media houses.
NNPC Ltd. reiterated that it 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.
The company further stated that in line with its Transparency, Accountability & Performance Excellence (TAPE) mantra, it has, on several occasions, independently invited external auditors to review its books.
NNPC Ltd said it would 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).
