OREANDA-NEWS.   The attention of the Management of the Nigerian National Petroleum Corporation has been drawn to aspects of the NEITI oil and gas audit report for the years 2009 – 2011 currently in circulation.

The NEITI draft report was made available to NNPC on 17 January, 2013 and the Corporation was in the process of reviewing same for reconciliation when it was hurriedly made public and released to the press. Standard audit procedure requires close-out between the auditor and the auditee before it is finalized and put in the public domain.

The report contains fundamental inaccuracies which are misleading and constitutes misinformation to the generality of the public. Given that the NEITI audit report is expected to be factual in all respects, it has become necessary to make the following observations and clarifications.