The President Bola Ahmed Tinubu led Federal Government has made its intention known to initiate a new audit of the N2.8tn fuel subsidy request submitted by the Nigerian National Petroleum Company Limited.
An auditing firm, KPMG has successfully completed an initial audit that resulted in a reduction of the claims from N6 trillion to N2.7 trillion.
The federal government is exploring the option of involving an independent audit firm or instructing the Office of the Auditor General of the Federation to authenticate the assertions put forth by the corporation concerning the government’s outstanding debt to the oil company. The current move will ensure transparency and also ensure financial discipline in disbursing government funds which is in line to the administrations quest to curb corruption.
