Group Calls for Patience as Senate Probes NNPCL’s N210trn Audit

The Network for Transparency and Economic Reform (NETER) has called on Nigerians and the media to allow the Senate Public Accounts Committee to carry out its review of the Nigerian National Petroleum Company Limited (NNPCL) audit responses independently and without interference.

The appeal comes after NNPCL submitted detailed answers to 19 audit queries raised by the Auditor-General of the Federation, concerning discrepancies amounting to about ₦210 trillion in its financial statements between 2017 and 2023.

According to the Senate Committee on Public Accounts, it has received the documents and will commence a full review in the coming days.

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In a statement issued on Friday, NETER emphasized the importance of giving the committee the time and space needed to ensure a thorough and impartial review.

NETER President, Dr. Lukas Yusuf, explained that the committee’s examination of NNPCL’s records is a significant step toward strengthening institutional accountability in Nigeria’s oil and gas sector.

He noted that this is the first time NNPCL is publicly engaging with an audit of this scale since it became a limited liability company under the Petroleum Industry Act (PIA).

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Dr. Yusuf added that NETER will continue to monitor the process closely and will provide an independent assessment once the Senate completes its review.

He also stressed that transparency and consistent oversight are essential to rebuilding public confidence in the management of Nigeria’s oil revenues.