By Mokobia Rita
ABUJA/Nigeria: Nigeria’s Senate has intensified its oversight of the oil sector, summoning the leadership of the Nigerian National Petroleum Company Limited (NNPCL) over a staggering ₦210 trillion flagged in audit reports between 2017 and 2023, in what lawmakers describe as a decisive push for transparency and accountability.
In a firm directive issued on Wednesday, the Senate Committee on Public Accounts ordered the Group Chief Executive Officer of NNPCL, Bayo Ojulari, to appear before it on April 29, alongside his predecessor, Mele Kyari, former Chief Financial Officer Umar Ajia, Dr. Bala Wunti, and the company’s external auditors, signalling growing frustration within the legislature over what it termed persistent evasiveness by the national oil company.
The resolution followed a motion moved by Senator Osita Izunaso and seconded by Senator Adams Oshiomhole, reflecting bipartisan concern over the scale and opacity of the financial discrepancies uncovered in the audit reports.
At the centre of the probe is the controversial ₦210 trillion in questioned figures, with lawmakers expressing particular dissatisfaction with NNPCL’s classification of ₦103 trillion as “liabilities.”
Chairman of the committee, Senator Aliyu Wadada, rejected the explanation as inadequate, insisting that such a broad categorisation falls short of the standards required for legislative scrutiny.
“Liabilities are not a single line item,” Wadada said during the session. “They include retention fees, legal obligations, and audit costs. Each component must be itemised, justified, and transparently presented.”
Beyond this, the committee is demanding a comprehensive breakdown of the remaining ₦107 trillion, which NNPCL reportedly attributed to Joint Venture Cash Calls and debts linked to unnamed defunct financial institutions, a lack of disclosure lawmakers described as both troubling and unacceptable.
Wadada disclosed that no fewer than 19 separate audit queries had been raised with the company, yet responses received so far have failed to meet the expectations of both the Senate and the Nigerian public.
“Nigerians deserve clear and convincing answers on how resources of this magnitude were managed,” he said, stressing that the era of vague explanations must come to an end.
The committee has issued a final two-week ultimatum to the summoned officials, warning that failure to appear could lead to the invocation of the Senate’s constitutional powers to compel attendance, a move that could significantly escalate the ongoing investigation.
Earlier, Senator Abdul Ningi called for a firmer stance, urging the committee to enforce compliance and safeguard the integrity of the legislature.
“The essence of democracy rests on the strength of the legislature,” Ningi said, warning that repeated disregard for legislative summons undermines democratic governance and weakens institutional authority.
As the April 29 deadline approaches, attention now turns to the NNPCL leadership, whose response is expected to determine the trajectory of the probe and shape public confidence in Nigeria’s governance systems.
The unfolding inquiry represents more than a routine legislative exercise; it is a critical test of institutional resolve and the Senate’s willingness to hold powerful entities accountable.
For many Nigerians, the expectation is clear—that transparency will prevail over opacity, and that the management of public resources will no longer be shielded by ambiguity.
Should the invited officials appear and provide credible explanations, it could mark a turning point in accountability within Nigeria’s oil sector. However, failure to comply may trigger a broader institutional confrontation with far-reaching implications for governance and public trust power
