IGP DISU PAYS OPERATIONAL VISIT TO AKWA IBOM, PRESIDES OVER PASSING-OUT CEREMONY OF 1,068 RETRAINED CONSTABLES. (PHOTOS). #PRESS RELEASE.

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 IGP DISU PAYS OPERATIONAL VISIT TO  AKWA IBOM, PRESIDES OVER PASSING-OUT CEREMONY OF 1,068 RETRAINED CONSTABLES The Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, today, 30th April 2026, undertook an official visit to Akwa Ibom State, where he paid a courtesy call on the Executive Governor, His Excellency, Pastor Umo Eno, ahead of the passing-out ceremony of retrained Police Constables in Uyo. The engagement with the State Government focused on strengthening institutional collaboration in support of ongoing policing reforms anchored on professionalism, accountability, and intelligence-led operations.  The Inspector-General of Police reaffirmed the commitment of the Nigeria Police Force to building a modern, service-driven institution that prioritizes public trust and operational efficiency. Governor Umo Eno, in his remarks, welcomed the Inspector-General of Police and commended the Nigeria Police Force for its ongoing reforms aimed at improving profe...
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NNPC LTD IS NOT OWING $6.8BN.(PHOTO). #PRESS RELEASE.

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PRESS RELEASE

NNPC Ltd is not owing $6.8bn

The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to a media report that the company is indebted to international oil traders to the tune of $6.8bn and that it has not remitted revenues to the Federation Account since January, among other allegations.  

Consequently, the following clarifications have become necessary:

1. That NNPC Ltd. does not owe the sum of $6.8bn to any international trader(s). In the oil trading business, transactions are carried out on credit, and so it is normal to owe at one point or the other. But NNPC Ltd., through its subsidiary, NNPC Trading, has many open trade credit lines from several traders. The company is paying its obligations of related invoices on a first-in-first-out (FIFO) basis. 

2. It is not correct to say that NNPC Ltd. has not remitted any money to the Federation Account since January. NNPC Ltd. and all its subsidiaries remit their taxes to the Federal Inland Revenue Service (FIRS) regularly. This is in addition to payments of CIT to road contractors under the Road Investment Tax Credit Scheme. In all, NNPC Ltd. is the largest contributor to the tax revenue shared every month at the Federation Account Allocation Committee (FAAC). 

3. On the issue of quality/quantity fiscalization of imported petroleum products, NNPC Ltd. has no role whatsoever as it is not a regulator. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which is the relevant regulatory agency in charge of such issues, is an independent body and does not report to the NNPC Ltd.  

4. That NNPC Ltd. is not averse to inquiries by the media into issues on and around its operations before dissemination to the public either through the print or electronic channels of communication as the company will, always, gladly take the opportunities to state the facts of the subject matter(s). This is in line with the company's commitment to the Transparency, Accountability, and Performance Excellence (TAPE) philosophy as emplaced by the Mele Kyari-led management since stepping into the saddle in 2019.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja

18 August, 2024

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