The Nigerian Senate disclosed on Tuesday that the Nigerian National Petroleum Company, Limited (NNPC), has formally responded to the 19 queries raised by the Senate Committee on Public Accounts regarding unaccounted funds totalling N210 trillion in the audit reports from 2017 to 2023.
Senator Aliyu Wadada, Chairman of the committee, explained that while responses have been received, they are yet to be critically examined by committee members.
He said: “While we were on recess, management of NNPCL wrote to the committee, requesting an extension of time to enable them compile data and respond comprehensively to the questions we raised and we granted that request. They have since responded, and we now have answers to all 19 questions we sent to them. However, the report is yet to be presented before the committee.”
The committee chair assured Nigerians that the matter would be thoroughly addressed before any public statement is issued.
“But let me assure you, as I promised earlier on behalf of the committee, we will do justice to the matter,” he added.
Beyond the audit, Wadada noted emerging concerns regarding NNPC’s production sharing contracts, emphasising the need for clarity on the share accruing to the company, the government, and international oil companies under such arrangements.
He further expressed concern over NNPC Retail’s declared loss, stating, “We find it difficult to understand why NNPC Retail should record a loss. But we will seek clarification when the corporation appears before us.”
The committee confirmed that once the report is reviewed and verified, Nigerians and the media will be informed of the responses that are coherent and those requiring further explanation.
