By Maurice Okosisi
The Nigerian National Petroleum Company (NNPCL) has submitted its responses to 19 queries raised by the Senate’s Committee on Public Account over unaccounted funds amounting to N210 trillion in its audited accounts from 2017 to 2023. This development was disclosed by the committee’s Chairman, Senator Aliyu Wadada, on Tuesday.
According to Senator Wadada, the NNPCL management had requested an extension of time to compile data and respond comprehensively to the questions raised, which the committee granted. The responses have since been received, but the committee is yet to critically examine them.
The Senate had given NNPCL’s Chief Executive Officer, Engineer Bayo Ojulari, three weeks to respond to the queries on July 29, 2025. The queries cover N210 trillion in unaccounted funds, comprising N103 trillion in liabilities and N107 trillion in assets.
Senator Wadada assured that the committee will thoroughly examine the responses and provide updates to Nigerians and the media in due course. He emphasized that the committee’s investigation is a constitutional obligation, not a political vendetta.
The committee has also raised concerns about production sharing contracts and NNPC Retail’s reported loss. Senator Wadada stated that the committee will seek clarification on these issues when NNPCL appears before it. The senator emphasized the need for transparency in production sharing arrangements, citing the public’s right to know how revenue is shared between NNPC, international oil companies, and the government.
The committee will review the responses and determine the next course of action. Nigerians await the outcome of this investigation, which could have significant implications for the nation’s economy and governance.
