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BREAKING: NNPCL Denies N3.3trillion Inflated Subsidy Claims

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Crude Oil Theft: Kyari Calls for Strategic Collaboration Among Stakeholders

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.”

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Shettima Returns To Nigeria After High-Stakes BRICS Summit In India

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Vice President Kashim Shettima has returned to Nigeria after representing President Bola Tinubu at the 18th BRICS Leaders’ Summit in New Delhi, India.

Shettima’s return followed a series of high-level engagements focused on strengthening Nigeria’s economic and diplomatic interests and expanding the country’s partnerships with BRICS member and partner countries.

According to a statement issued on Tuesday by the Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima participated in high-level sessions at the summit and held bilateral meetings with key international leaders.

ALSO READ: BRICS 2026: Modi Seeks More Nigerian Crude as Shettima Meets Indian PM

Among his major engagements was a meeting with Indian Prime Minister Narendra Modi, where discussions focused on strengthening economic ties between Nigeria and India.

The discussions covered renewed crude oil trade, investment, pharmaceuticals, defence, digital technology, fintech, renewable energy and other strategic sectors.

Shettima also met with the Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, reaffirming Nigeria’s support for multilateralism and a more inclusive global economic order.

At the BRICS summit, Shettima delivered President Tinubu’s message calling for reforms of global governance structures and international financial institutions to reflect current economic realities.

He also positioned Nigeria as a gateway to Africa’s expanding market under the African Continental Free Trade Area.

Nigeria further used its participation at the summit to deepen engagement with BRICS member and partner countries in key sectors, including agriculture, artificial intelligence, digital infrastructure, manufacturing, healthcare, energy and human-capital development.

The Vice President’s participation forms part of the Federal Government’s broader efforts to strengthen Nigeria’s international economic partnerships, attract investment and create new opportunities across strategic sectors of the economy.

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Tension in Sokoto as Govt Shuts Mosque After Cleric’s Stabbing

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Tension has heightened in parts of Sokoto metropolis following the stabbing of an Islamic cleric, Musa Lukuwa, shortly after Friday prayers, prompting the state government to shut the mosque where the incident occurred.

The Sokoto State Government ordered the immediate closure of the Lukuwa Jumu’at Mosque in Mabera and declared the facility a crime scene pending the outcome of investigations.

The government also ordered a full investigation into the stabbing of the cleric and the subsequent killing of his alleged attacker by worshippers.

SEE MORE: 2027 Presidency: Sokoto ADC Adopts Atiku as Preferred Candidate

The directives were contained in a statement issued on Tuesday by the Director-General, Media and Publicity, Government House, Abubakar Bawa.

According to the Sokoto State Police Command, the alleged attacker used a knife to assault Lukuwa after the Friday prayers before worshippers overpowered and beat him to death.

Police spokesperson, Ahmad Rufa’i, said the command received a distress call at about 1:50pm concerning the incident.

He said preliminary investigations showed that the alleged assailant entered the mosque after the prayers and attacked the cleric.

Lukuwa was subsequently taken to hospital for treatment.

Following the attack, the cleric appealed for calm, saying he was in stable condition and urging his followers not to retaliate or take any action capable of escalating the situation.

Explaining the mosque’s closure, the state government said the measure was necessary to enable security agencies to conduct a thorough investigation.

“The government has ordered a full investigation into the attack and killing at Musa Lukuwa Jumu’at Mosque, Mabera, and ordered the closure of the mosque (crime scene) till further notice,” Bawa said.

The government also constituted a committee of Islamic scholars, known as ulamas, to investigate the immediate and remote causes of the religious tensions and advise the administration on appropriate measures.

“The State Government has constituted a committee of ulamas to examine the remote and immediate causes of such crisis, and to advise the government on the appropriate measures to be taken in the interest of the state,” the statement said.

The government further dissociated itself from anyone who, under the guise of religion, engages in acts it considers disrespectful to Prophet Muhammad, his parents, household and companions.

It reaffirmed its “total obedience and respect” for the Prophet and urged residents to continue demonstrating love and compassion towards him.

The administration also appealed to residents to refrain from making inciting statements capable of worsening the situation.

“The Government has appealed to people in the state to desist from incisive statements that could jeopardise the peaceful coexistence that Sokoto is known for,” Bawa said.

The state government assured residents of its commitment to protecting lives and property across Sokoto State and urged members of the public to remain calm as investigations continue.

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DPRP IPO: Dangote Rings Opening Bell at NGX

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The much awaited Africa’s largest Initial Public Offering by the Dangote Petroleum Refinery and Petrochemicals (DPRP) has been formally flagged off on the Nigerian Exchange (NGX).

President and Chief Executive Officer, Dangote Industries Limited (DIL), Aliko Dangote, marked the commencement of the offer by ringing the opening bell at the NGX trading floor in Lagos on Monday.

The transaction marks a significant milestone for Nigeria’s capital market, as the DPRP becomes the first refinery in the Nigerian Exchange’s 66-year history to open its shares to public subscription.

READ ALSO: Dangote Refinery Opens Landmark IPO Today

The offer comprises 4.1 billion new ordinary shares priced at N525 per share, allowing investors to acquire an equity stake in Africa’s largest refinery.

Retail and institutional investors, as well as eligible investors across Africa, can participate in the public offer.

Investors can subscribe for a minimum of 10 shares, requiring an investment of N5,250 at the offer price.

The offer opened on Monday, September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms and conditions contained in the offer prospectus.

At the ceremony, Dangote highlighted that the public offer was part of a broader effort to expand public participation in owning his companies.

“We will lease every company that we operate,” he said.

The launch attracted prominent dignitaries, including Lagos State Governor Babajide Sanwo-Olu, members of the Dangote family and captains of industry.

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