Senate Orders NNPC to Account for ₦210 Trillion in Audit Queries, Sets April 29 Deadline

The Nigerian Senate has directed the management of the Nigerian National Petroleum Company Limited (NNPCL) to appear before its Public Accounts Committee (PAC) on April 29, 2026, to provide a full and satisfactory account of ₦210 trillion flagged across audit reports covering the period from 2017 to 2023.

The directive, issued on Tuesday, specifically named NNPCL Group Chief Executive Officer Bayo Ojulari and his immediate predecessor, Mele Kyari, as required to appear before the committee on the stipulated date without fail. Also summoned are former Chief Financial Officer Umar Ajia, Bala Wunti, and the external auditors of the national oil company.

The resolutions of the committee followed a motion moved by Senator Osita Izunaso representing Imo West, and seconded by Senator Adams Oshiomhole of Edo North.

Explanations Deemed Unsatisfactory

Chairman of the Public Accounts Committee, Senator Aliyu Wadada of Nasarawa West, made clear that NNPCL’s previous responses to 19 outstanding audit queries had fallen far short of the level of transparency required by the legislature and expected by Nigerians.

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He noted that the committee was particularly dissatisfied with the company’s blanket categorisation of ₦103 trillion as liabilities, without providing a breakdown of specific components such as retention fees, legal fees, and audit fees.

Wadada further stated that detailed explanations were also required for another ₦107 trillion, which NNPCL attributed to joint venture cash calls and funds allegedly owed by certain defunct banks whose identities were not disclosed to the committee.

“This committee, and by extension, the Senate, is not satisfied with the blanket explanation given by NNPCL on ₦103 trillion, which it claimed represents liabilities,” Wadada said. He added that specific amounts spent on each component of those liabilities must be clearly stated and explained, just as the ₦107 trillion allocation required full and transparent justification.

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“The deadline for compliance is Wednesday, 29 April,” Wadada declared.

Lawmaker Calls for Use of Compulsory Powers

Before the committee’s resolutions were passed, Senator Abdul Ningi representing Bauchi Central raised concerns about a growing culture of disregard for legislative summons, and called on the committee to invoke the National Assembly’s constitutional powers to compel the appearance of NNPCL officials.

Ningi lamented that repeated invitations to NNPCL had gone unheeded, undermining the authority and oversight role of the legislature.

“We must treat this matter with utmost seriousness. The strength of democracy rests significantly on the authority of the legislature. Unfortunately, there appears to be a growing reluctance to honour invitations from the National Assembly, leaving members feeling helpless in enforcing compliance,” he stated.

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The Senate’s latest move reflects mounting legislative pressure on Nigeria’s national oil company to open its books and provide credible explanations for the massive financial discrepancies identified by auditors over a six-year period. The April 29 date is expected to be a crucial test of NNPCL’s accountability to the Nigerian public and its parliament.