NNPCL Responded To Queries On Unaccounted N210trn – Senate

Through its committee connected Public Accounts, the Senate declared Tuesday that the Nigerian National Petroleum Company (NNPCL) has responded to 19 queries raised against it successful the Audit reports of 2017 to 2023.

On July 29th this year, the Committee gave the Chief Executive Officer of NNPCL, Engineer Bayo Ojulari, 3 weeks to respond to the 19 queries connected N210 trillion yet to beryllium accounted for successful the National Oil Company’s audited account.

Responding to journalists’ questions astatine the adjacent of plenary connected Tuesday astir whether NNPCL had responded to the queries, the Chairman of the Committee, Senator Aliyu Wadada (Nasarawa West), said yes, but explained that the responses had yet to beryllium critically examined.

He said, “While we were successful recess, absorption of NNPCL wrote to the committee requesting an hold of clip to alteration them to compile information and respond comprehensively to the questions we raised, and we granted that request.

“They person since responded, and we present person answers to each 19 questions we sent them.

“However, the study has yet to beryllium presented to the committee. That is why, arsenic chairman, I person refrained from making immoderate nationalist connection connected the substance until it is decently laid earlier members.

“But fto maine guarantee you, arsenic I promised connected behalf of the committee, we volition bash justness to the matter.”

He added that, beyond the audited fiscal statements, different issues are emerging astir the NNPC.

According to him, the archetypal of specified issues is accumulation sharing contracts — specifically, the accumulation outgo to Nigeria, which indispensable beryllium intelligibly defined. The nationalist should cognize what information goes to the NNPC, what goes to the planetary lipid companies (IOCs), and what accrues to the authorities nether the accumulation sharing arrangement.

“Furthermore, the committee has been informed that NNPC Retail has declared a loss.

“This improvement is besides of interest to america and to the public. We find it hard to recognize wherefore NNPC Retail should grounds a loss, but we volition question clarification erstwhile the corp appears earlier us.

“As acold arsenic the audited fiscal statements are acrophobic — which screen the play betwixt 2017 and 2023 — NNPC has submitted its responses to the 19 questions we asked. Nigerians and the media volition beryllium informed of the contents successful owed course.

“Out of those answers, the ones that marque consciousness and those that bash not volition beryllium evident to the public”, helium stressed.