Group urges patience as Senate reviews NNPCL’s N210trn audit queries

The Network for Transparency and Economic Reform (NETER) has urged Nigerians and the media to allow the Senate Public Accounts Committee to complete its review of the Nigerian National Petroleum Company Limited’s (NNPCL) audit responses without interference.

This follows the company’s submission of detailed answers to 19 audit queries raised by the Auditor-General of the Federation over discrepancies of about N210 trillion in its financial statements between 2017 and 2023.

DAILY POST reports that the Senate Committee on Public Accounts confirmed receipt of the documents adding that it will begin a full review in the coming days.

In a statement on Friday, NETER said it is important for the review process to be given the necessary time and independence to ensure a fair outcome.

NETER’s President, Dr. Lukas Yusuf, said that the committee’s scrutiny of NNPCL’s financial records would help strengthen institutional accountability within the oil and gas sector.

He explained that this marks the first time the company is publicly engaging with an audit of this magnitude since becoming a limited liability company under the Petroleum Industry Act (PIA).

Yusuf added that NETER would continue to monitor the process and release an independent assessment once the Senate concludes its review.

He also noted that transparency and consistent public oversight remain vital in rebuilding confidence in how Nigeria’s oil revenues are managed.