The Nigerian Senate has demanded urgent clarification from the Nigerian National Petroleum Company Limited (NNPCL) over ₦210 trillion audit discrepancies. The audit covers financial records between 2017 and 2023 and shows inconsistencies that lawmakers called “alarming.”
Senator Aliyu Wadada, Chairman of the Senate Public Accounts Committee (SPAC), gave NNPCL ten days to explain the missing figures. He said the audit revealed ₦103 trillion in liabilities and ₦107 trillion in assets with no clear documentation.
Wadada stressed that the Senate has not accused NNPCL of fraud but insists on full accountability. He noted that the company must provide verifiable evidence before the committee can accept its financial report.
NNPCL’s interim CEO, Bayo Ojulari, requested more time to review the documents, but the Senate rejected the appeal. Lawmakers insisted that transparency and accountability are non-negotiable in Nigeria’s oil sector.
Meanwhile, Nigerians reacted strongly on social media. One user posted on X (formerly Twitter): “₦210 trillion can change the nation—this probe must not die in silence.” Another commented: “Ten days is enough. Nigerians deserve answers.”
Civil society groups also praised the Senate’s action, describing it as a major step toward curbing corruption in the oil industry. The BudgIT Foundation urged NNPCL to publish full audit details, saying it would rebuild public trust and investor confidence.
Analysts warn that the controversy could affect foreign investment and energy-sector reform if left unresolved. They also believe the probe could shape future relations between the Senate and NNPCL.
As the ten-day deadline approaches, the Senate has vowed to take legal action if NNPCL fails to comply. Lawmakers say they will not allow public institutions to “operate in secrecy” any longer.
