BREAKING NEWS: Nigerian National Petroleum Company (NNPC) Limited reacts to claims of inflated subsidy prices during Buhari’s era

Group Managing Director, Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari Group Managing Director, Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari..ĊONTINUE.THE FULL R£ĄÐING.

The Nigerian National Petroleum Company Limited has denied the rife reports it inflated the subsidy of Premium Motor Spirit, popularly called petrol by N3.3tn during the administration of former President Muhammadu Buhari.

The spokesperson for the agency, Olufemi Soneye made this known in a statement saying it is not aware of any planned audit accounts as reported in the press.

The statement stressed that its figures on the subsidy were verified while stating that all records on subsidy had been sent to the agencies in charge.

It said, “NNPC notes with dismay a report in a section of the media alleging that it inflated subsidy claims by N3.3tn, and wishes to state that NNPC conducts its businesses with accountability 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 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,” the company stated.

NNPC said it would resist any attempt to drag the company into the apparent politics of fuel subsidy as it currently operates on a commercial basis and the express provisions of the Petroleum Industry Act.

“It is on record that in line with its Transparency, Accountability and Performance Excellence mantra, NNPC has, on several occasions, independently invited external auditors to review its books.

“NNPC 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,” the company stated.

Before the assumption of office by President Bola Ahmed Tinubu, Nigeria spent trillions of naira on petrol subsidies annually. This was, however, stopped by Tinubu during his inaugural address on May 29, 2023...ĊONTINUE.THE FULL R£ĄÐING.>’.

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