The Network for Transparency and Economic Reform (NETER) has called on Nigerians and the media to allow the Senate Public Accounts Committee to finish reviewing the audit responses from the Nigerian National Petroleum Company Limited (NNPCL) without any interference. This appeal follows NNPCL’s submission of thorough responses to 19 audit questions raised by the Auditor-General concerning discrepancies amounting to approximately N210 trillion in its financial statements from 2017 to 2023. According to DAILY POST, the Senate Committee on Public Accounts has confirmed that it has received these documents and will initiate a complete review shortly. In a statement released on Friday, NETER emphasized the need for the review process to be granted adequate time and independence to yield a fair result. NETER’s President, Dr. Lukas Yusuf, mentioned that examining NNPCL’s financial records is crucial for enhancing accountability within the oil and gas sector. He noted that this is the first instance of the company engaging in a public audit of this scale since its transformation into a limited liability entity under the Petroleum Industry Act (PIA). Yusuf stated that NETER will continue to observe the process and provide an independent evaluation after the Senate finishes its review, stressing that transparency and ongoing public oversight are essential for restoring trust in the management of Nigeria’s oil revenues.
