Wednesday, October 22, 2025
25.6 C
Lagos

NNPC Disclaims Report on Alleged Inflated Subsidy Claims 

The Nigerian National Petroleum Company Limited (NNPC) notes with dismay a report in a section of the media alleging that it inflated subsidy claims by N3.3 trillion, and wishes to state that:

  1. 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.
  2. 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.
  3. 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).
  4. 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.
  5. 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.
spot_img
spot_img
spot_img

Hot this week

FSI, Mentors Without Borders Launch Tech Mentorship Program at Thomas Adewunmi Varsity

Financial Services Innovators (FSI), in partnership with Mentors Without...

The Trouble with Nigeria’s Healthcare System

By Michael Owhoko, Ph.D The quality of a country’s healthcare...

Sterling Bank Leads Africa’s Green Revolution with Agriculture Summit Africa 2025

Africa’s agricultural rebirth gathers momentum as Agriculture Summit Africa...

Fidelity Bank Celebrates International Day of the Girl Child with Debate Showcase 

L-R: Second runner-up, Chizaram Ekueme of Awesome College; Head,...

LASAA Hosts Legislators, Vows Commitment to Visual Order, Safety

L-R: The Chairman, Committee on Information, Security and Strategy,...

Topics

GTCO: Market Value Hits N1.58tn on Investor, Market Confidence

GTCO Plc has started clinging near its 52-week high...

NCC, Lottery Commission Renews MoU on Gaming Industry

The Nigerian Communications Commission (NCC) has signed a revised...

U.S. is No. 1 Source of Spam Emails, Down 11.4% in 2O15

According to the latest Kaspersky Lab Security Bulletin, the...

IATA Forecast Reveals Passenger Number of 7.3bn by 2034

The International Air Transport Association (IATA) released its first...

Sell Pressures Weigh on Local Bourse… ASI Down 88bps

Sell pressures in GUARANTY (-4.6%), STANBIC (-4.3%) and UNILEVER (-6.4%) weighed on market performance dragging...

40 Nigerian Brokers, Insurers Retool Professional Capacity at BIBA 2023

  L-R:  A Past President of the Nigerian Council of...

Kenya, 1st Country to Launch ‘Novartis Access’ for Affordable Health

Novartis has announced the launch of Novartis Access in Kenya, the first country to benefit from a portfolio of 15 affordable medicines to treat cardiovascular diseases, diabetes, respiratory illnesses, and breast cancer. The Novartis portfolio is being offered to the Kenyan government, non-governmental organisations and other public-sector healthcare providers for USD 1 per treatment, per month.

NAICOM Chief, Sunday Thomas, Tasks Federal, State Govts on Insurance of Public Buildings

The Commissioner for Insurance and Chief Executive Officer of...
spot_img

Related Articles

Popular Categories

spot_imgspot_img