Nigeria’s Senate has given the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, a strict three-week deadline to provide full written responses to 18 critical questions raised in audit reports pointing to a staggering ₦210 trillion gap in the corporation’s books between 2017 and 2023. The Senate Committee on Public Accounts, chaired by Senator Ahmed Wadada Aliyu, made this demand during a high-profile hearing on Tuesday, July 29, 2025. Lawmakers clarified that the N210 trillion is comprised of ₦103 trillion in liabilities and ₦107 trillion in assets, as drawn directly from the corporation’s audited financial statements not as accusations of theft or missing funds, but as discrepancies requiring detailed explanation.
Committee members underscored that every one of the 18 queries originated from the Office of the Auditor General’s reports, not from the Senate, executive, or judiciary. The lawmakers described the figures as unprecedented, describing the matter as being of paramount national importance, especially considering NNPCL’s strategic role in Nigeria’s economic well-being.
Appearing before the committee for the first time since his appointment just over 100 days ago, Ojulari apologized for previous absences, citing the need for careful preparation. He requested four weeks to properly review the technical issues and reconcile the records, but the committee reduced the period to three weeks, insisting on urgency and transparency. Ojulari pledged to work with external auditors and relevant teams to address the queries comprehensively.
The committee also emphasized that after the three-week grace period, Ojulari and other top management will be required to appear in person to defend their submissions. Lawmakers signaled that failure to comply could prompt the use of constitutional powers to enforce attendance.
Senate members warned that NNPCL’s handling of the audit gap has major implications for public trust, oil sector transparency, and national revenue management. The outcome of this probe is seen as a defining moment for accountability in Nigeria’s oil industry.