The Nigerian National Petroleum Company Limited (NNPC) has denied owing international oil traders $6.8 billion. NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, responded to allegations against the state-owned energy firm, stating that transactions are conducted on credit, and outstanding amounts are normal. However, he emphasized that NNPC is fulfilling its obligations on a first-in-first-out basis.
Soneye also refuted claims that NNPC has not remitted funds into the federation account since January, stating that the company regularly remits taxes to the Federal Inland Revenue Service. He highlighted NNPC’s commitment to transparency, accountability, and performance excellence.
Additionally, Soneye clarified that NNPC is not responsible for overseeing the quality of imported fuel, as it is not a regulatory body. The Nigerian Midstream and Downstream Petroleum Regulatory Authority is the relevant agency for such matters.
NNPC has yet to respond to inquiries about the ongoing fuel scarcity in many cities. The company has emphasized its commitment to providing factual information and is open to media inquiries about its operations.
