The Nigerian National Petroleum Company Limited (NNPCL) has formally submitted responses to 19 audit queries raised by the Senate Committee on Public Accounts concerning discrepancies totalling N210 trillion between 2017 and 2023.
Committee Chairman Senator Aliyu Wadada confirmed receipt of the company’s written defence in Abuja, noting that the report will be reviewed before being laid before the committee.
“NNPCL has now responded to all 19 questions we sent,” Wadada told journalists. “However, we will not make any public comment until the responses are properly scrutinised.”
He disclosed that the queries involve N103 trillion in liabilities and N107 trillion in unreconciled assets, as flagged in reports by the Auditor-General of the Federation.
Wadada added that the committee will also examine other emerging concerns, including production sharing contracts and NNPCL Retail’s reported losses, which he said are “difficult to understand.”
The company, led by Group Chief Executive Bayo Ojulari, had earlier requested an extension to compile comprehensive data before responding.
Wadada assured Nigerians that the committee would ensure transparency, saying, “Out of those answers, the ones that make sense and those that do not will be evident to the public.”
The audit queries stem from the Senate’s July 2025 resolution directing NNPCL to account for the massive financial gaps in its audited statements spanning 2017–2023.
