NNPCL Faces ₦210 Trillion Audit Query as Nigerian Senate Demands Full Accountability

The Nigerian Senate has intensified its oversight of the Nigerian National Petroleum Company Limited (NNPCL), demanding full accountability over an alleged ₦210 trillion unaccounted for in audit reports spanning 2017 to 2023. The Senate Committee on Public Accounts has ordered top executives of the company to appear before it on April 29, 2026, to provide detailed explanations.

Those summoned include the Group Chief Executive Officer, Bayo Ojulari, alongside former GCEOs such as Mele Kyari, former Chief Financial Officer Umar Ajia, Bala Wunti, and external auditors. The committee emphasized that their appearance is “unfailing,” signaling frustration over repeated delays and what lawmakers describe as insufficient cooperation.

The directive followed a motion supported across party lines by Senator Osita Izunaso and Senator Adams Oshiomhole, highlighting growing concern in the National Assembly over the scale and complexity of the alleged financial discrepancies within the oil giant.

Committee Chairman Senator Aliyu Wadada criticized earlier responses from NNPCL, stating they lacked clarity and proper financial breakdowns. He specifically rejected claims that ₦103 trillion represented liabilities, insisting that such figures must be transparently itemized into verifiable components such as fees and obligations. He also questioned the remaining ₦107 trillion, which the company attributed to joint venture cash calls and unresolved debts tied to defunct banks.

Lawmakers warned that vague explanations would no longer be accepted, stressing that public funds must be fully accounted for. With mounting pressure and calls for stricter enforcement of legislative summons, the April 29 hearing is now seen as a critical moment for NNPCL, with potential long-term implications for transparency and accountability in Nigeria’s oil and gas sector.

source: The Guardian