NEWS
BREAKING: NNPCL Denies N3.3trillion Inflated Subsidy Claims
The Nigerian National Petroleum Company Limited (NNPC Ltd) has strongly denied stories being bandied in a section of the media ‘alleging that it inflated subsidy claims by N3.3 trillion’.
This was contained in a statement published on its verified X handle at Abuja on Monday, under the signature of the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye.
The company was quick to remind the public that it had long been operating “on a commercial basis and the express provisions of the Petroleum Industry Act (PIA).”
It added that it would not be drawn into the politics of subsidy and reminded the public that its operations were guided by the mantra, of “Transparency, Accountability & Performance Excellence (TAPE),” and “in keeping with international best practices”.
NNPCL Ltd pointed out that it had voluntarily “on several occasions, independently invited external auditors to review its books,” which underscored its transparency in operations.
The statement was issued under the subject, ‘NNPC Ltd Disclaims Report on Alleged Inflated Subsidy Claims’.
It reads, “The Nigerian National Petroleum Company Limited (NNPC Ltd.) 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 the 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 a commercial basis and 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.”
A coalition of the Civil Society for Good Governance (CCSGG) and the Kogi Conscience Liberation Movement (KCLM) has called on President Bola Tinubu, the Inspector General of Police, and other agencies to intensify their efforts in combating corruption in Nigeria.
This appeal comes in response to increasing frustration over the delayed prosecution of former Kogi State governor, Yahaya Bello, accused of an ₦80.2 billion fraud.
During a press conference in Abuja, Comrade Okpanachi Jacob, the national coordinator of CCSGG, stressed the importance of tackling corruption, stating, “Corruption threatens our socioeconomic and political progress.”
“Delays in prosecuting high-profile cases like that of Yahaya Bello undermine public confidence,” he added.
Jacob pointed out that the Economic and Financial Crimes Commission (EFCC) had filed charges against Bello, delivered through his counsel, Abdulwahab Muhammed (SAN), on April 23, 2024.
He remarked “Over two months have passed, and Nigerians are growing impatient. The lack of decisive action sends the wrong message about our commitment to fighting corruption.”
Peter Onuwa, KCLM’s national coordinator, echoed similar concerns, stating, “The EFCC’s efforts are insufficient. Nigerians are losing faith in the fight against corruption, especially in Kogi State.”
Onuwa elaborated, “Corruption has severely impacted Kogi’s economy. High poverty levels and increased crime rates are direct results. Civil servants have become beggars due to eight years of salary shortfalls.”
The groups urged President Tinubu, the IGP, the Department of State Security Services (DSS), and the EFCC to take swift and decisive action.
“We call on the authorities to ensure justice is served promptly. The people of Kogi State are desperate for action,” Jacob added.
Strategic efforts to reignite the national economy, by stimulating the manufacturing sector have yielded collaboration between the federal government and the Manufacturers Association of Nigeria (MAN).
This was revealed in a statement put out on the verified X handle of the Senior Special Assistant to The President on Media & Communications, (Office of The Vice President), Stanley Nkwocha.
Biztellers reports that they would be hosting a three-day national manufacturing policy summit scheduled for July 2-4, 2024, at the Banquet Hall of the Presidential Villa, Abuja, under the theme “Rethinking Manufacturing,”
Nkwocha revealed that President Bola Ahmed Tinubu would grace the event as the Special Guest of Honour and would also declare the summit open.
Nkwocha stated, “The President will also reinstate the administration’s commitment to industrial growth and economic diversification.
“The Office of the Vice President, the Federal Ministry of Industry, Trade and Investment (FMITI), National Institute for Policy and Strategic Studies (NIPSS) and other partners will play key roles in the summit to bring together stakeholders from Ministries, Departments and Agencies (MDAs), multilateral partners, regional institutions, and industry leaders to forge a new path for Nigeria’s manufacturing sector.”
Nkwocha cited the Director-General of MAN, Segun Ajayi-Kadir, thus, “the Summit will focus on discussions on overcoming the binding constraints that limit the performance of the manufacturing sector, enhancing supply chain resilience, leveraging technology, and generally fostering a conducive business environment to drive the growth of the sector.”
An explosion struck the Zungeru Hydro Electricity Dam early Monday morning, causing multiple injuries among the workforce.
The dam, which has not yet been officially commissioned by the Federal Government, is the fourth hydroelectric project in the state, following Jebba, Kainji, and Shiroro dams.
The cause of the explosion has not been disclosed. Local sources confirmed that several workers were injured, with those most seriously hurt being transported to Minna, the state capital, for intensive medical care.
Among the injured was a Chinese national, seen being taken to Minna for further treatment.
While the total number of injured workers is not yet clear, it is reported to be significant.
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