In relation to the foregoing, Nigeria Political Conference Parties (CNPP) has responded to a recent demand by the Federal Account Allocation Committee (FAAC) that National Petroleum Company Limited ( NNPCl ) should make a payment of outstanding N4.56 trillion. This debts are said to have been incurred between august 2023 and June 2024 through selling petrol at subsidized prices.
On Saturday, in a statement released through its Deputy National Publicity Secretary, James Ezema, CNPP expressed dismay that despite repeated claims by the federal government that there are no any subsidies being paid for petrol, NNPCL still keeps making these payments secretly. These actions by NNPCL contradict governments stand on the matter thereby raising serious concerns.
Ezema has further criticized Mele Kyari’s management of NNPCL which is quite irrational given the fact that this company reported net profit of ₦3.297 trillion in its audited financial statement (AFS), 2023 while simultaneously charging FAAC an incredible sum of ₦4.56tn for subsidy payments on petrol over just two months. This is unacceptable and incomprehensible to CNPP.
“This is a clear case of financial recklessness, impunity, and a slap in the face of Nigerians who are struggling to make ends meet.”
“We demand an immediate explanation from NNPC Limited on the following: How did NNPC Limited arrive at the figure of N4.56 trillion as subsidy reimbursement?”
“What is the basis for this claim when the federal government has repeatedly announced that there are no subsidy payments? How can NNPC Limited declare a net profit of N3.297 trillion in a year and yet claim to have incurred a subsidy expense of N4.56 trillion in just two months, July and August?”
The CNPP also called for an independent forensic audit of NNPC Limited under Kyari covering the period from 2020 to date. It added that the audit should be conducted by a reputable international firm and should cover all aspects of NNPC Limited’s operations, including its financial dealings, contracts, and acquisitions.
