By ₦210 Trillion Query
Senate grills NNPCL chief, gives 21-day ultimatum
Summary
- NNPCL boss Bayo Ojulari appears before Senate panel after four summons but seeks more time to respond
- Lawmakers express frustration over lack of answers, raising concerns about company’s internal controls and auditing
- Senate Committee on Public Accounts gives Ojulari three weeks to provide full reconciliation of assets and liabilities
Abuja, Nigeria – The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bayo Ojulari, finally appeared before the Senate Committee on Public Accounts on Tuesday, 30 July 2025, after being summoned four times over a query involving ₦210 trillion in unaccounted financial records. The controversy centres on discrepancies in the NNPCL’s audited financial statement.
According to committee chairman Senator Aliyu Wadada, the company must explain liabilities totalling ₦103 trillion and reconcile them against ₦107 trillion in receivables, figures outlined in the company’s published accounts.
“What this committee said, unless proven otherwise, is that NNPC should and must account for ₦210 trillion,” Wadada insisted.
Ojulari, who assumed office just over 100 days ago, admitted he was still familiarising himself with the company’s financial framework and requested more time to properly investigate the matter.
“It’s a herculean task,” he said. “Your commentary today also brings a clearer perspective to what I actually thought was the issue… Kindly give me some time to just dig into the perspective on the issue that you have raised.”
His appeal, however, drew stern reactions from members of the committee, who questioned the integrity of NNPCL’s internal reporting systems and its chain of communication.
Senator Adams Oshiomhole criticised the company’s approach, saying, “All the people who he sent once, twice, and three times to represent him were not in a position to brief him about the issues before the committee…? Nigerians are aware that the reason for your appointment was to effect change.”
Senator Simon Lalong echoed the concern: “Please, be very, very clear, and also be honest with us. Because when you send people to us, with a lot of questions here, each time they come, even one question they can’t answer. It’s surprising.”
Having been granted an opportunity to provide a timeline, Ojulari requested three weeks to respond fully. In turn, the committee accepted his proposition and resolved to give him 21 days. “Three weeks will be the period within which he responds to us,” said Senator Wadada.
The NNPCL is now under a tight deadline to provide a comprehensive, reconciled account of its liabilities and receivables, with lawmakers and the public closely watching what could become one of the most consequential financial oversight processes in the company’s history.
