The Nigerian National Petroleum Company Limited, NNPCL has denied allegations that it owes international oil traders $6.8 billion and has not remitted revenues to the Federation Account since January.
In a statement issued on Sunday by its Chief Corporate Communications Officer, Femi Soneye, the NNPCL clarifies that while it is normal to owe traders in the oil business, it is paying its obligations on a first-in-first-out basis and does not owe the alleged amount.
The company also stated that it regularly remits taxes to the Federal Inland Revenue Service, FIRS and is the largest contributor to the tax revenue shared at the Federation Account Allocation Committee, FAAC.
NNPCL further denied any involvement in the quality and quantity fiscalisation of imported petroleum products, stating that the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA is the relevant regulatory agency responsible for such issues.
The company expressed its commitment to transparency and accountability, welcoming media inquiries and opportunities to state facts and correct misinformation.
This company said the clarification is to set the records straight and provide accurate information to the public, in line with NNPCL Transparency, Accountability, and Performance Excellence, TAPE philosophy.
(Editor: Terverr Tyav)
