LAGOS, Nigeria (VOICE OF NAIJA)-The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied reports that it inflated its subsidy claims by N3.3 trillion, calling the allegations “ridiculous claims” and “products of the febrile imagination.”
According to a statement by the spokesperson, NNPC Ltd, Olufemi O. Soneye, the company conducts its businesses accountably and transparently, in accordance with international best practices, and has never inflated its subsidy claims with the Federal Government
“All previous subsidy claims made by the company are verifiable, and relevant records and documents have been sent to the appropriate authorities and agencies,” it stated.
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NNPC Ltd also stated that it is unaware of any audit or probe into its subsidy claims and has invited external auditors to review its books on several occasions.
The company promised to resist any attempts to drag it into the politics of fuel subsidy, as it operates on a commercial basis and in accordance with the Petroleum Industry Act (PIA).
“NNPC Ltd has called on media practitioners and houses to exercise restraint and verify information before publication to avoid misleading the public,” the statement noted.
The denial comes after a report by iWitnessLive alleged that NNPC Ltd had inflated its fuel subsidy claims by N3.3 trillion.