Senate Critiques NNPCL Over ₦210 Trillion Financial Discrepancy

The Senate, through the chairman of the Public Accounts Committee, Aliyu Wadada, expressed dissatisfaction with the Nigerian National Petroleum Company Limited (NNPCL) regarding a ₦210 trillion discrepancy in its financial records. During an appearance on Channels Television's Sunday Politics, Wadada stated that the current management, led by Group Chief Executive Officer Bayo Ojulari, failed to provide satisfactory explanations for the discrepancy.

The committee's review of NNPCL's audit financial statements covering the period from 2017 to 2023 revealed that the company did not adequately explain the staggering figure, which was described as difficult to comprehend. The committee has resolved to summon former top officials of the company, including former Group Chief Executive Officer Mele Kyari, to clarify the discrepancies in a public hearing, emphasizing the need for accountability in financial reporting.