Nigerian National Petroleum Company Audit Queries
Analysis based on 6 articles · First reported Dec 08, 2025 · Last updated Dec 09, 2025
The ongoing audit queries and the NNPC's failure to comply with parliamentary oversight could negatively impact investor confidence in Nigeria's oil and gas sector and its governance. This event highlights potential financial mismanagement within a key state-owned enterprise, which may lead to increased scrutiny and possibly sanctions, affecting NNPC's operational stability and market perception.
The Public Accounts Committee of the Nigeria — House of Representatives (Nigeria) has directed Bashir Bayo Ojulari, the Group Chief Executive Officer of NNPC, to appear before it on December 15, 2025, and submit all outstanding documents related to audit queries for the 2021 financial year. The queries, raised by the Nigeria — Office of the Auditor-General for the Federation, include alleged payments to contractors for abandoned projects, failure to deduct statutory taxes, and irregular payments. The committee, chaired by Bamidele Salam, expressed strong displeasure over NNPC's repeated failure to honor previous invitations and provide requested documents, warning that patience has been exhausted. Bashir Bayo Ojulari's explanation of absence due to another critical official engagement was rejected by the committee members, who deemed it disrespectful and obstructive. Following an appeal by Umar, NNPC's National Assembly Liaison Officer, a final extension was granted. This event underscores the Nigeria — House of Representatives (Nigeria)'s broader effort to enforce accountability and address financial irregularities within government agencies and state-owned enterprises, particularly in the petroleum sector.
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