The Socio-Economic Rights and Accountability Project (SERAP) has issued a bold challenge to the Nigerian National Petroleum Company Limited (NNPCL) and its Group Chief Executive Officer, Mele Kyari. The organization is demanding an explanation for the alleged disappearance of N825 billion and $2.5 billion, funds earmarked for refinery rehabilitation and other oil-related revenues. This is according to the 2021 annual report by the Auditor-General of the Federation, released on November 27, 2024 which uncovered some huge amount missing in Refinery Rehabilitation Funds.
Holding NNPCL Accountable
SERAP has urged Kyari to identify and hold accountable those responsible for the missing funds. The organization also called on him to involve anti-corruption agencies, such as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC), in the investigation.
In a surprising twist, SERAP also recommended that Kyari officially invite former President Olusegun Obasanjo to tour Nigeria’s refineries. The invitation should extend to the ICPC and EFCC, ensuring their oversight of refinery operations and expenditures, particularly at the Port Harcourt and Warri refineries.
A Call for Transparency
In a letter dated January 4, 2025, signed by its Deputy Director, Kolawole Oluwadare, SERAP acknowledged NNPCL’s recent public invitation to Obasanjo to tour the refineries. The organization described the invitation as justified and consistent with Nigeria’s constitutional and international obligations to combat corruption.
“While your invitation is clearly not ‘disrespectful,’ as claimed by the former president, we urge you to formally extend it to the EFCC and ICPC. This move is crucial for transparency and accountability,” the letter stated.
SERAP emphasized that the allegations in the Auditor-General’s report reflect a severe breach of public trust, violating both the Nigerian Constitution and anti-corruption laws.
The Impact of Corruption on Nigerians
Beyond the legal implications, SERAP highlighted the devastating effects of corruption on Nigeria’s economy and its citizens. “These allegations have trapped millions of Nigerians in poverty, stifled economic development, and deprived citizens of vital opportunities,” the letter noted.
A Seven-Day Ultimatum
SERAP has given the NNPCL a seven-day deadline to take action. “If we do not hear from you within seven days of this letter’s receipt, we will consider appropriate legal measures to compel compliance in the public interest,” the organization warned.
The Auditor-General’s 2021 report revealed that over N825 billion and $2.5 billion in public funds meant for refinery rehabilitation and other oil revenues remain unaccounted for. These revelations deepen the urgent need for answers and decisive action to restore public trust in Nigeria’s oil sector.
SERAP’s demands reflects a broader call for accountability and transparency in managing the country’s vast oil resources. Will the NNPCL rise to the occasion, or will this case further tarnish the institution’s credibility?
