The Nigerian National Petroleum Company Limited (NNPC) on Monday refuted allegations that it inflated the subsidy on Premium Motor Spirit (PMS), commonly known as petrol, by N3.3 trillion during the tenure of former President Muhammadu Buhari.
NNPC asserted that its subsidy claims are verifiable, emphasizing that all relevant records have been submitted to the appropriate agencies. In a statement issued by its spokesperson, Olufemi Soneye, NNPC also dismissed reports of a planned audit of its accounts.
“NNPC notes with dismay a report in a section of the media alleging that it inflated subsidy claims by N3.3 trillion,” the statement read.
“We wish to state that NNPC conducts its business with accountability and transparency in line with international best practices and has never inflated its subsidy claims with the Federal Government.”
The company assured that all previous subsidy claims are verifiable, with pertinent records and documents already provided to relevant authorities and agencies. NNPC also denied knowledge of any audit or probe into its subsidy claims, describing such reports as baseless.
“NNPC is neither aware of any audit of its subsidy claims nor any ensuing probe,” the statement continued.
“We categorically state that these claims are fabrications of the reporters and their respective media outlets.”
The company vowed to resist any attempts to embroil it in the politics of fuel subsidy, highlighting its current operation on a commercial basis and adherence to the Petroleum Industry Act.
“NNPC operates under the Transparency, Accountability, and Performance Excellence mantra and has independently invited external auditors to review its books on several occasions,” the statement added.
NNPC urged media practitioners and outlets to verify information before publication, adhering to journalistic ethics to avoid misleading the public.
