The Nigerian National Petroleum Company Limited has refuted media reports alleging that it inflated the fuel subsidy payments by N3.3 trillion.
A report claimed that a forensic audit conducted by a global accounting firm, KPMG, had uncovered a significant discrepancy in the fuel subsidy claims made by the national oil company.
According to a report by iWitnessLive, the audit revealed that NNPCL inflated its fuel subsidy claims by a staggering N3.3 trillion. The audit, which will cover 2015-2021, aims to verify the authenticity of the subsidy claims.
The report comes several months after the NNPCL’s Group CEO, Mele Kyari, claimed that the federal government still owed NNPCL N2.8 trillion for petrol subsidy payments, which the company had covered from its cash flow.
However, in a statement today by its Chief Corporate Communications Officer, Olufemi Soneye, the NNPC said it has never inflated its subsidy claims with the Federal Government.
The national oil company said all its previous subsidy claims are verifiable, saying that all relevant records and documents have been sent to relevant authorities and agencies for audit.
The oil company vows to resist any attempt to drag it into the politics of fuel subsidy, saying that it operates on a commercial basis and in line with the Petroleum Industry Act.
NNPP, therefore, appeals to journalists and media houses to exercise restraint and verify any information before publication.
