Following its failure and or inability to respond to questions over a stunning N210 trillion allegedly unaccounted for between 2017 and 2023, as contained in audit reports, the Senate has announced its determination to get to the root of the matter.
Accordingly, the Senate has ordered Mr Bayo Oulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), to appear before its committee on Public Account un failingly next week Thursday, July 10, 2025
Key Points:
The Ojulari-led management of the NNPC Ltd has since the revelation by the Senate over the scandalous alleged unaccounted N210 trillion, has refused to appear before the Senate for clarification of the alleged financial irregularities.
Rather than face the issues at stake squarely, the Ojulari-led management of the NNPC Ltd has chosen to embark on publicity stunt and propaganda aimed at diffusing the allegations against the company.
But, it is as if the more the NNPC Ltd attempt to engage in propaganda, the worse and messier the situation gets from the non-functioning four refineries after gulping the nation’s billions of Dollars in Turn-Around-Maintenance (TAM), to chartering of five jets on a jamboree and extravagance trip in the cover of a retreat to Kigali-Rwanda, and the N5.7 billion consultancy to a firm without any bidding whatsoever, the Ojulari management team prefers to embark for nation’s oil company, a new name that may certainly not suit it.
The Senate Committee is probing the NNPC Ltd over financial discrepancies amounting to over N210 trillion in its audited financial statements from 2017 to 2023, but despite by summoned to give account of the incongruities, the NNPC Ltd officials refused to honour the invitation, citing a retreat.
As it if responsible and answerable to only itself, the NNPC Ltd, requested a two-month extension to enable it prepare for a detailed responses from questions raised from its own audit report.
Accordingly, the Senate Public Account Committee, warned that failure to comply with its summons may result in an arrest warrant being issued against Ojulari, the Group Chief Executive Officer of the company.
Chairman of the Senate Public Account Committee, Senator Ahmed Wadada, who stated the position of the Senate, said the upper chamber of the National Assembly would no longer tolerate such unacceptable behaviour from the NNPC Ltd, stressing that their presence was needed to respond to queries raised regarding a staggering N210 trillion allegedly unaccounted for by the company between 2017 and 2023, as captured in an audit report.
The NNPC Ltd had in a letter signed by Adedapo Segun on behalf of the GCEO, requested for an additional two months to prepare a detailed response, a request, Senator Wadada turned down, saying that the company attitude was a complete disregard for the committee’s summons.
He said; “Their absence is unacceptable, and as a result, this committee is giving the relevant officials from NNPCL ten working days from today, which ends on July 10.
“This committee was not expecting any documents from NNPCL today, but answers to the eleven questions thrown at its representatives last week. Therefore, the GCEO of NNPCL must appear before us on July 10 for the expected answers,” he directed.
Wadada warned that failure to appear on the scheduled date would leave the committee with no choice but to invoke and assert all its constitutional powers to compel Ojulari to appear.
