The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian National Petroleum Company Limited (NNPCL) to account for over ₦825 billion and $2.5 billion allocated for refinery rehabilitation and other oil revenues, as highlighted in the Auditor-General’s 2021 annual report.
In a letter dated January 4, 2025, SERAP urged NNPCL’s Group Chief Executive Officer, Mele Kyari, to identify individuals responsible for the missing funds and refer them to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC). The organization also recommended inviting former President Olusegun Obasanjo, along with EFCC and ICPC officials, to inspect Nigeria’s refineries, including those in Port Harcourt and Warri, to enhance transparency and accountability.
SERAP emphasized that the Auditor-General’s findings indicate serious violations of public trust and national anti-corruption laws, adversely affecting Nigeria’s economic development and perpetuating poverty among its citizens. The organization has requested NNPCL to take the recommended actions within seven days or face potential legal measures to ensure compliance in the public interest.
This development follows NNPCL’s recent public invitation to former President Obasanjo to tour the Port Harcourt and Warri refineries, an offer SERAP supports as a step toward greater transparency in the oil sector.
The Auditor-General’s 2021 report, published on November 27, 2024, raises concerns about NNPCL’s financial management, particularly regarding substantial funds intended for refinery repairs and other oil-related revenues.
SERAP’s call for accountability underscores the need for transparency in Nigeria’s oil industry, urging NNPCL to address the alleged discrepancies and ensure responsible management of public resources.
