The Nigerian Senate has stepped up its investigation into the Nigerian National Petroleum Company Limited (NNPCL), directing its top officials to appear before the Committee on Public Accounts on April 29, 2026, over an alleged ₦210 trillion discrepancy in audit records spanning 2017 to 2023.
The panel instructed the company’s Group Chief Executive Officer, Bayo Ojulari, to attend alongside former GCEO Mele Kyari, former Chief Financial Officer Umar Ajia, Bala Wunti, and the firm’s external auditors. Lawmakers emphasized that their attendance is mandatory, signaling frustration over previous delays.
The decision followed a motion raised by Osita Izunaso and supported by Adams Oshiomhole, highlighting widespread concern among legislators regarding the scale of the financial irregularities.
Committee chairman Aliyu Wadada criticized the explanations earlier submitted by NNPCL, describing them as insufficient and lacking necessary detail. He challenged the company’s claim that ₦103 trillion constituted liabilities, insisting that such figures must be clearly itemized into components like legal fees, audit costs, and retention charges.
He also questioned the remaining ₦107 trillion, which the company linked to joint venture obligations and debts associated with unnamed defunct banks, stressing that such broad descriptions are unacceptable. According to him, the public deserves clear and verifiable details regarding the handling of national resources.
Another committee member, Abdul Ningi, called for stricter enforcement, including the use of constitutional powers to compel compliance. He warned that ignoring legislative summons could weaken public trust in government institutions.
The Senate has now given NNPCL a final two-week window, making the April 29 hearing a critical moment in the investigation. Analysts believe the outcome could significantly influence transparency and accountability within Nigeria’s oil sector.
