Nigerian Senate Clashes with NNPCL Over ₦200 Trillion Audit Dispute

Tensions are rising between Nigeria’s Senate and the Nigerian National Petroleum Company Limited (NNPCL) as the Group Chief Executive Officer, Bayo Ojulari, again failed to appear before the Senate Committee on Public Accounts. The committee is probing an estimated ₦200 trillion in unaccounted public funds linked to the national oil company.

For the second time, Ojulari chose to send representatives in his place—a move firmly rejected by the committee. Lawmakers say the gravity of the alleged financial irregularities demands Ojulari’s direct testimony. “This committee will not accept proxies on matters of such national importance,” one senator stated during Wednesday’s session.

The Senate is interpreting Ojulari’s absence as more than just a scheduling issue. Several committee members say it signals contempt for the constitutional authority of the legislative branch. “This is not just disrespectful—it is a direct affront to the Senate’s oversight role as enshrined in the Constitution of the Federal Republic,” another senator said.

The investigation centers around a staggering ₦200 trillion—roughly $120 billion—in unexplained transactions and possible revenue leakages over several years. The committee, which has ramped up scrutiny of various government agencies in recent months, considers this case one of the most serious in its portfolio.

Ojulari’s request for a two-month extension to prepare his appearance was met with sharp resistance. The committee says the delay is unacceptable, especially given the scale of public interest and the economic stakes involved. “We are not here to babysit the NNPCL,” the committee chair declared. “We are here to find out what happened to trillions of naira that belong to the Nigerian people.”

The Senate has now threatened to invoke constitutional sanctions if Ojulari refuses to comply. Although the specific measures were not detailed, lawmakers hinted that they are prepared to take all necessary legal steps to compel attendance.

The confrontation comes at a time when Nigeria is battling economic challenges, including inflation, unemployment, and mounting debt. Citizens are increasingly frustrated with perceived corruption and lack of transparency in government agencies. The NNPCL, which was recently commercialized to improve efficiency and accountability, is now facing renewed skepticism about its financial practices.

Analysts say the outcome of this standoff could shape the future of legislative oversight in Nigeria. “If the Senate backs down, it sets a dangerous precedent,” said political analyst Uche Anyanwu. “But if they succeed in holding the NNPCL accountable, it could mark a turning point for institutional checks and balances.”

As the Senate presses forward, all eyes are on Bayo Ojulari and whether he will respond to mounting pressure. The committee has signaled that time is running out.

“This isn’t just about numbers,” one senator concluded. “It’s about accountability, and no one is above that.”