The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it’s collaborating with the Nigeria Extractive Industries Transparency Initiative (NEITI) and different stakeholders to reconcile alleged indebtedness by the corporate.
The Chief Corporate Communications Officer, NNPC Ltd, Mr Olufemi Soneye stated in an announcement that the corporate was working with the Reconciliation Committee arrange by President Bola Tinubu to examine, assessment and reconcile financial records on alleged indebtedness to the Federation by NNPC Ltd and FAAC.
This is approaching the heels of calls by a Non-Governmental Organisation (NGO) for a probe of a number of monies allegedly owed to the federation by the nationwide oil firm.
Soneye stated the claims by the group was baseless, contemplating the truth that NEITI itself had dismissed the allegations in its 2021 report, following collection of engagements with NNPC Ltd.
He stated originally of President Bola Tinubu’s administration, it was made to promote Premium Motor Spirit (PMS) imported into the nation at one third of its worth.
This growth, he stated, gave rise to a median of N400 billion month-to-month subsidy invoice, which subsequently put a pressure on its revenues and funds.
NAN/Hauwa Abu
