By: Bayero Ade
The Socio-Economic Rights and Accountability Project (SERAP) has requested the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, to clarify the alleged disappearance of N825 billion and $2.5 billion designated for refinery repairs and other oil-related revenues.
According to Vanguard, the discrepancies were uncovered in the 2021 report of the Auditor-General of the Federation, released on November 27, 2024.
SERAP urged Mr. Kyari to identify those responsible for the missing funds and ensure they are handed over to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.
The group also encouraged him to invite former President Olusegun Obasanjo for an inspection of Nigeria’s refineries. It suggested that the invitation be extended to anti-corruption agencies such as the ICPC and EFCC to guarantee transparency in the operation and expenditure of facilities like the Port Harcourt and Warri refineries.
In a letter dated January 4, 2025, and signed by its Deputy Director, Kolawole Oluwadare, SERAP stated, “We commend your public invitation to former President Obasanjo to inspect the Port Harcourt and Warri refineries. While the former president’s criticism may reflect a misunderstanding, the invitation aligns with Nigeria’s constitutional provisions and global anti-corruption principles. For greater accountability, we recommend extending the invitation to relevant anti-corruption agencies.”
SERAP further pointed out that the findings in the Auditor-General’s report reveal serious violations of public trust and the law, which have negatively impacted the nation’s economy, worsened poverty, and denied citizens critical opportunities. The organization warned that if no action is taken within seven days, it would initiate legal proceedings to compel NNPCL to comply with its demands in the public interest.
The Auditor-General’s 2021 report highlighted that NNPCL had failed to account for substantial public funds derived from crude oil and gas sales between 2020 and 2021. These funds, meant for refinery rehabilitation, were allegedly deducted before being transferred to the Federation Account. The report recommended the immediate recovery of the unaccounted funds and adherence to proper remittance practices.
SERAP emphasized the need for transparency in NNPCL’s activities and urged the company to collaborate with anti-corruption bodies to resolve the discrepancies and ensure accountability for the missing funds.
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