Nigeria’s Senate has summoned the management of the Nigerian National Petroleum Company Limited (NNPCL) to appear before it on or before April 29, 2026, to explain discrepancies totaling ₦210 trillion flagged in audit reports.
The directive was issued by the Senate Committee on Public Accounts, which expressed dissatisfaction with earlier explanations provided by the national oil company. The queried amount covers financial records spanning 2017 to 2023, with lawmakers insisting that every component must be properly accounted for.
According to the committee:
- ₦103 trillion was described by NNPC as liabilities
- ₦107 trillion was reportedly spent on joint venture cash calls and other obligations
However, senators rejected these explanations as vague and incomplete, demanding a detailed breakdown of all expenditures. The Senate has directed several top officials to appear before the committee, including:
- Group CEO, Bashir Bayo Ojulari
- Former GCEO, Mele Kyari
- Former CFO, Umar Ajia
- Other senior officials and external auditors
Lawmakers emphasized that attendance is mandatory, warning against further delays. Chairman of the committee, Senator Aliyu Wadada, stated that the responses submitted by NNPC to 19 audit queries were not satisfactory. He stressed that Nigerians deserve:
- Clear financial records
- Specific breakdowns of expenditures
- Transparency in liabilities and transactions
The development has reignited concerns about transparency and financial accountability in Nigeria’s oil sector, a critical pillar of the country’s economy.
Some lawmakers also expressed frustration over repeated failures by NNPC officials to honor previous invitations, warning that the Senate may invoke its constitutional powers to compel compliance.
The ₦210 trillion audit query is one of the largest financial scrutiny cases in Nigeria’s public sector in recent years. Experts say the outcome could:
- Shape public trust in government institutions
- Influence reforms in the oil and gas sector
- Impact Nigeria’s fiscal transparency and global credibility
Given the central role of NNPC in national revenue generation, the probe is expected to attract widespread public and investor attention.
With the April 29 deadline fast approaching, all eyes are now on NNPC’s leadership to provide detailed and convincing explanations. The Senate’s firm stance signals a renewed push for accountability in Nigeria’s oil sector, a move that could have far-reaching implications for governance and transparency.
