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| Mele Kyari, GCEO, NNPC Ltd. |
NNPC Ltd, the Nigerian National Petroleum Company Limited, has dismissed a recent report claiming that it inflated subsidy claims by N3.3 trillion.
The company asserts that it operates transparently and accountably, adhering to international best practices, and has never inflated its subsidy claims with the Federal Government. It also emphasizes that all previous subsidy claims are verifiable, with relevant records and documents sent to relevant authorities and agencies.
The company, therefore in a press release signed by Olufemi O. Soneye, Chief Corporate Communications Officer, NNPC Ltd., denies any knowledge of an audit or probe into its subsidy claims, stating that these claims are mere fabrications by reporters and media houses.
The statement added that NNPC Ltd operates on a commercial basis, guided by the Petroleum Industry Act (PIA).
It also stated that the company has consistently invited external auditors to review its books, in line with its Transparency, Accountability & Performance Excellence (TAPE) mantra.
NNPC Ltd therefore urges media practitioners and media houses to exercise restraint and verify information before publication, adhering to the ethics of journalism to avoid misleading the public.
Below is full text of the statement by NNPC Ltd:
The Nigerian National Petroleum Company Limited (NNPC Ltd) notes with dismay a report in a section of the media alleging that it inflated subsidy claims by N3.3trillion, and wishes to state that:
NNPC Ltd 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. 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.
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