NNPC rattled by reports of massive corruption in N731bn fuel subsidy funds

Ndu Ughamadu, the group general manager, group public affairs division of the Nigerian National Petroleum Corportation, NNPC has disclosed that the corporation does not inflate or doctor records of its petroleum products importation into the country.

Ughamadu was reacting to a World Bank report which claimed that the NNPC spent N731 billion to import Premium Motor Spirit, PMS, also known as petrol.

The report also stated that the fuel import figure was mainly inflated from an average of 40 million litres per day to 54 million litres daily.

In an interview with journalists in Abuja, Ughamadu noted that all the figures of petroleum products it had presented are accurate and can be verified from the Department of Petroleum Resources, DPR, the Petroleum Products Pricing Regulatory Agency, PPPRA, the Nigerian Customs Service and other relevant agencies.

The NNPC cannot and does not inflate its fuel import figures. The figures can be verified from various government agencies, such as our regulators, the DPR and the PPPRA, as well as the Customs among others.”

Ughamadu, who noted that he presently does not have the precise amount deducted for under-recovery for Premium Motor Spirit, PMS, in 2018, explained, however, that the figures cannot also be doctored as it can be verified by the relevant authorities.

SOURCE: TheTrent