The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied allegations reported in some media outlets that it inflated its fuel subsidy claims by N3.3 trillion.
In a statement issued on Monday, June 10th, NNPC’s Chief Corporate Communications Officer Olufemi O. Soneye stated the claims were “ridiculous” and “products of the febrile imagination of the reporters and their respective media houses.”
Soneye insisted NNPC has been accountable and transparent in its business operations in line with international best practices.
He said all previous subsidy claims were verifiable and relevant records have been provided to authorities.
“NNPC Ltd is neither aware of any audit of its subsidy claims nor probe ensuing therefrom,” the statement read, dismissing the alleged N3.3 trillion overcharge as baseless.
The oil company also pushed back against suggestions it was caught up in the politics around fuel subsidies, stating it “operates on commercial basis and on the express provisions of the Petroleum Industry Act.”
Soneye highlighted that NNPC has independently invited external auditors multiple times to review its books transparently.
He called on media outlets to verify information before publishing to avoid misleading the public.
