The Senate Committee on Public Accounts has expressed dissatisfaction with explanations provided by the leadership of the Nigerian National Petroleum Company Limited regarding alleged ₦210 trillion discrepancies in the company’s financial records.
Senator Aliyu Wadada, representing Nasarawa West in the 10th National Assembly, said the NNPCL management, led by Group CEO Bayo Ojulari, failed to substantiate key figures, including ₦103 trillion recorded as accrued expenses under liabilities. He described the unaccounted sum of ₦210 trillion from audited statements covering 2017–2023 as “mind-boggling” and “difficult for any reasonable person to comprehend.”
Ojulari, who has been in office for barely 100 days, told the committee he requires more time to study the issues and pledged to carry out an internal review and reconciliation.
The committee has now resolved to summon former top officials, including ex-GCEO Mele Kyari, for a public hearing to clarify the discrepancies. Senator Wadada also emphasized that the committee will not hesitate to question any government official if necessary, including the Minister of Petroleum Resources and, if required, President Bola Tinubu.
