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The Conference of Nigerian Political Parties (CNPP) has reacted to the latest demand by the Federal Account Allocation Committee (FAAC) ordering the National Petroleum Corporation Limited (NNPCL) to pay a debt of N4.56 trillion for selling petrol at subsidized prices between August 2023 and June 2024.
The CNPP in a statement issued by its Deputy National Publicity Secretary, James Ezema on Saturday, said it was disappointed that despite repeated announcements by the federal government that there was no subsidy payment on petrol in the country, NNPCL was still making secret subsidy payments.
Ezema said the CNPP found it absurd and unacceptable that NNPCL under the leadership of Mele Kyari would declare a net profit of N3.297 trillion in its 2023 Audited Financial Statements (AFS) yet charge FAAC a subsidy reimbursement of N4.56 trillion for petrol sold in just two months.
“This is a clear case of financial recklessness, impunity and a slap in the face to the Nigerian people who are struggling to make ends meet.
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“We demand an immediate explanation from NNPC Limited on the following: How did NNPC Limited arrive at the figure of P4.56 trillion as subsidy reimbursement?
“What is the basis for this claim when the federal government has repeatedly declared that there is no subsidy payment? How can NNPC Limited declare a net profit of N3.297 trillion in a year yet claim to have incurred subsidy expenditure 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 financial transactions, contracts and acquisitions.
The post CNPP seeks audit of Kyari’s NNPCL, seeks explanation on N4.56 trillion fuel subsidy in 2 months first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.
