NNPC disputes charges of inflating fuel subsidies by N3.3 trillion

On Monday, the Nigerian National Petroleum Company Limited refuted claims that, when former President Muhammadu Buhari was in office, it had increased the subsidy on Premium Motor Spirit, or gasoline, by N3.3 trillion.

Olufemi Soneye, the business’s spokesperson, stated in a statement that the company was not aware of any upcoming audit of its books, despite what had previously been reported (albeit not by The PUNCH).

The statement read, “NNPC wishes to state that it conducts its businesses with accountability and transparency in keeping with international best practices and has, at no time, inflated its subsidy claims with the Federal Government. We note with dismay a report in a section of the media alleging that it inflated subsidy claims by N3.3tn.”

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