Nigeria’s House of Representatives has directed the Nigerian National Petroleum Company Limited (NNPCL) to appear on 15 December to face questions over alleged massive revenue leakages, a demand born out of growing evidence from audits, independent investigations, and legal challenges alleging missing funds.
According to a latest report published by the office of the Auditor-General of the Federation, NNPCL is alleged to have misappropriated over ₦514 billion in 2021 alone, through unauthorised deductions and diversion of funds meant for the federation account.
Further allegations levelled by civil society and watchdogs — including the Socio‑Economic Rights and Accountability Project (SERAP) claim that the company failed to remit as much as ₦500 billion generated between October and December 2024 to the national treasury.
In addition, regulatory reviews revealed that NNPCL omitted tracking or remittance of crucial revenue streams related to crude oil sales, royalties, and refinery operations some of which were budgeted for refinery rehabilitation and public services.
Committee chairman Bamidele Salam said the lawmakers had invited NNPCL management more than seven times, but the company repeatedly declined to appear, often citing conflicting engagements.
At Monday’s hearing, a letter from NNPCL requested a 60-day extension, explaining that senior executives were meeting with the president. But the committee rejected the request, describing the company’s conduct as unacceptable for a major state-owned corporation.
He warned that NNPCL cannot continue to treat the Parliament’s oversight role with contempt, adding that the next hearing on 15 December must see the company deliver outstanding financial records and explanations, or risk further legislative action.
“We find it troubling that such a large organisation has consistently ignored invitations. We are dealing with serious issues involving trillions of naira that should have been remitted to the federation account,” Salam said.
Salam insisted that the company must appear next Monday without fail and submit all outstanding documents ahead of its presentation.
“The only way we will accept that this is a ‘new NNPCL’ is to see a change in how you conduct your affairs,” he added.
Other committee members voiced similar frustrations.
Hassan Bappa (PDP–Taraba) said NNPCL had “flouted committees across the House for too long,” adding that parliamentary oversight must be respected.
Kafilat Ogbara (APC–Lagos) argued that the company should not be allowed to dictate its own timetable, while Deputy Chair Jeremiah Umaru supported a motion to compel attendance.
Responding on behalf of the company, NNPCL’s National Assembly Liaison Officer, Umar Farooq, denied any deliberate avoidance and said management had prepared for the hearing until a presidential communication was received late Friday.
He added that the company was committed to cooperating with parliament, describing the current administration as a “new NNPCL” focused on transparency.
The upcoming hearing is expected to be one of the most consequential oversight sessions in recent years, given the scale of the alleged revenue shortfalls.