The House of Representatives Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) up to December 15 to appear before it and address allegations of revenue leakages amounting to several trillions of naira.
Committee chairman, Rep. Bamidele Salam, issued the directive during a session on Monday in Abuja after NNPCL management again failed to honour the committee’s summons. Salam said the company had ignored at least seven invitations, often citing scheduling conflicts.
Reading a letter from the company, Salam noted that NNPCL attributed its latest absence to a meeting with the president and requested a 60-day extension. He rejected the request, stressing that the Auditor-General of the Federation had raised concerns about huge unremitted revenues that should have been paid into the Federation Account but were allegedly withheld or unaccounted for.
“The only way we will agree that this is a new NNPCL is to see a shift in the conduct of your affairs, including your corporate management practice, which is part of accountability,” he said. He warned that the committee would not tolerate what appeared to be the company’s disregard for parliament.
Other lawmakers echoed the frustration. Rep. Hassan Bappa said the committee must exercise its oversight powers, insisting that NNPCL “cannot be above the committee.” Rep. Kafilat Ogbara said the company had repeatedly failed to honour invitations and urged the committee to compel its appearance before the week ends, a view supported by Deputy Chairman Rep. Jeremiah Umaru.
NNPCL’s Liaison Officer to the National Assembly, Umar Farooq, told lawmakers that the absence was not intentional, explaining that the management had been prepared to attend until it received a late directive from the presidency on Friday night.
The controversy comes amid renewed scrutiny of government spending. Former Vice President Atiku Abubakar recently called for an independent investigation into the N17.5 trillion reportedly spent by the Tinubu administration on pipeline security and related costs in one year, describing it as unprecedented and troubling.
NNPCL’s latest audited financials show the company reported a Profit After Tax of N5.4 trillion from a revenue of N45.1 trillion for the 2024 financial year.
