BREAKING: NNPCL Gets Final Deadline Amid Trillion-Naira Revenue Leakages Probe

NNPCL have been given final deadline amid trillion-naira revenue leakages probe.

 

NewsOnline Nigeria reports that the House of Representatives Committee on Public Accounts has issued a final deadline of December 15 for the Nigerian National Petroleum Company Limited (NNPCL) to appear before it and address allegations of multi-trillion-naira revenue leakages.

Committee Chairman Rep. Bamidele Salam delivered the directive during a session on Monday in Abuja, expressing frustration that NNPCL has repeatedly ignored at least seven invitations to appear before lawmakers.

ALSO: NNPC Limited Posts ₦5.4tn Profit, Unveils $60bn Investment Plan to Drive Nigeria’s Energy Future

 

According to Salam, each summons was met with excuses ranging from conflicting schedules to internal engagements.

At Monday’s sitting, the chairman read a letter from NNPCL in which the company attributed its latest absence to a meeting with the President and requested an additional 60 days before appearing.

Salam rejected the request, insisting that the Auditor-General of the Federation had raised serious red flags concerning unremitted revenues that should have been paid into the Federation Account but were either withheld or unaccounted for by NNPCL.

“The only way we will accept that this is a ‘new NNPCL’ is through a visible shift in conduct, particularly in corporate governance and accountability,” he said.

He warned that the parliament would no longer tolerate what appears to be “consistent disregard” for its oversight role.

Lawmakers insisted that all outstanding documents requested by the committee must be submitted ahead of next week’s appearance.

Other Lawmakers Lend Their Voices

 

Rep. Hassan Bappa stressed that NNPCL is constitutionally subject to parliamentary oversight and cannot operate above the law.

“If you see how NNPCL has been flouting various committees of this House, you’ll know this should be their final bus stop,” he said.

Rep. Kafilat Ogbara criticised the firm’s repeated absence, urging the committee to compel immediate compliance rather than allow NNPCL to pick a new date.

Deputy Chairman Rep. Jeremiah Umaru supported the call for a binding resolution.

Responding, NNPCL’s Liaison Officer to the National Assembly, Umar Farooq, said the management’s absence was not intentional, adding that they had prepared to appear until they received a late Friday directive from the presidency.

NewsOnline Nigeria recalls that the development comes amid growing scrutiny of NNPCL’s financial operations. Former Vice President Atiku Abubakar recently demanded an independent investigation into the reported ₦17.5 trillion allegedly spent on pipeline security and related costs in one year by the Tinubu administration, calling the figure “unprecedented” and “a moral indictment.”

According to NNPCL’s audited financial statement for 2024, the company reported a ₦5.4 trillion profit after tax from ₦45.1 trillion in revenue.