The Nigerian National Petroleum Company Limited NNPCL has strongly denied allegations of inflating subsidy claims by N3.3 trillion.
In a statement issued by Chief Corporate Communications Officer Femi Soneye, the company described the report as “ridiculous” and stressed that it operates with accountability and transparency, adhering to international best practices.
NNPC clarified that all past subsidy claims are verifiable and supported by relevant records and documents, which have been submitted to the appropriate authorities and agencies.
The company emphasized that it is unaware of any audit or investigation into its subsidy claims and reaffirmed that it operates commercially under the guidelines of the Petroleum Industry Act.
