Senate gives NNPCL April 29 deadline to account for N210trn

By Musa Baba Adamu

The Senate, through its Committee on Public Accounts, has fixed April 29, 2026, as the deadline for the management of the Nigerian National Petroleum Company Limited (NNPCL) to appear before it over an alleged unaccounted N210 trillion flagged in audit reports spanning 2017 to 2023.
The committee directed the Group Chief Executive Officer of NNPCL, Engineer Bayo Ojulari, to appear alongside former GCEO, Mele Kyari, former Chief Financial Officer Umar Ajia, Dr Bala Wunti, and the company’s external auditors.
The resolution followed a motion moved by Senator Osita Izunaso and seconded by Adams Oshiomhole.
Chairman of the committee, Aliyu Wadada, said the Senate was dissatisfied with explanations so far provided by NNPCL regarding the queried sum.
According to him, responses to the 19 audit queries lacked the detail required to justify the figures, insisting that Nigerians deserved full disclosure.
“This committee and by extension, the Senate, is not satisfied with blanket explanations given by NNPCL on N103 trillion said to be liabilities,” Wadada said.
He explained that the liabilities must be broken down into specific components, including retention fees, legal fees, and audit fees, with clear figures attached to each.
The committee also demanded detailed clarification on the remaining N107 trillion, which NNPCL claimed was spent on joint venture cash calls and debts allegedly owed by unnamed defunct banks.
Wadada stressed that the new deadline was final, giving the oil company two weeks to appear and provide comprehensive explanations.
Earlier, a member of the committee, Abdul Ningi, called for the invocation of the National Assembly’s constitutional powers to compel NNPCL officials to appear, citing repeated failures to honour invitations.
“We must treat this matter with utmost seriousness. The essence of democracy rests significantly on the strength and authority of the legislature,” Ningi said.
The Senate’s move signals heightened scrutiny of the state oil company’s financial records, with lawmakers insisting on accountability and transparency in the management of public resources.