The Senate Committee on Public Accounts has expressed dismay over the failure of the management of NNPC to appear before it regarding an alleged ₦210 trillion unaccounted for between 2017 and 2023.
Chairman of the Committee, Senator Aliyu Ahmad Wadada, made the remarks while briefing newsmen on Tuesday about NNPC’s absence.
Senator Wadada noted that the meeting had been scheduled by NNPC management themselves, but they failed to attend and did not provide any written explanation for their absence.
He added that the committee has resolved that henceforth it will no longer accept representation; the management must appear in person before the committee.
Senator Wadada emphasized that the responsibility to account for the alleged ₦210 trillion remains squarely with NNPC management.
He revealed that NNPC’s financial submissions raised serious red flags — particularly claims of ₦103 trillion in accrued expenses and ₦107 trillion in receivables, totaling ₦210 trillion between 2017 and 2023.
The chairman of the committee further explained that, NNPC’s explanation on the ₦107 trillion receivables — equivalent to about $117 billion — contradicts available facts and evidence provided by NNPC itself, the committee is duty-bound to reject this
He further questioned how NNPC could pay ₦103 trillion in cash calls to joint venture partners in 2023 alone, despite generating only ₦24 trillion in crude revenue between 2017 and 2022.
Recalled that Cash call arrangements were abolished in 2016 under the Buhari administration, how can NNPC claim to have paid ₦103 trillion in one year, when it only generated ₦24 trillion in revenue over five years? Where did NNPC get that money?
Commenting on the issue, Senator Abdul Ningi explained that the public should know that the committee is doing its constitutional mandate to invite any chief executive of any Government’s agency to explain on the tax payers money.
All members of the committee supported the decisions announced by the Chairman of the committee
Cov/ Bashir M
