The leadership of the Conference of Nigeria Political Parties (CNPP) has issued a strong call for an independent forensic audit of the Nigerian National Petroleum Company Limited (NNPC), focusing on the period of Engineer Mele Kyari’s leadership from 2020 to the present.
This demand comes in response to recent revelations regarding NNPC’s financial operations, which have raised serious concerns about the management and transparency of the nation’s oil revenues.
In a statement released on Thursday and circulated to journalists, the CNPP expressed profound shock and disappointment over NNPC’s recent request for the Federal Account Allocation Committee (FAAC) to reimburse an outstanding sum of N4.56 trillion.
This amount, according to NNPC, represents the cost of selling petrol at a subsidised rate between August 2023 and June 2024.
The CNPP found this demand particularly troubling, especially in light of the ongoing discussions and assurances from the Federal Government that fuel subsidies had been abolished.
The CNPP’s Deputy National Publicity Secretary, James Ezema, who signed the statement, described the situation as both “absurd and unacceptable.”
He questioned how NNPC could declare a net profit of N3.297 trillion in its 2023 Audited Financial Statement (AFS) while simultaneously claiming a subsidy reimbursement of N4.56 trillion for just two months.
This apparent contradiction has led the CNPP to demand an urgent, thorough audit to uncover the truth behind these figures.
“The audit should be conducted by a reputable international firm,” the CNPP insisted, “and should cover all aspects of NNPC Limited’s operations, including its financial dealings, contracts, and acquisitions.”
The organisation stressed that this level of scrutiny is essential to restore public confidence in the management of Nigeria’s oil resources and to ensure that the nation’s wealth is not being siphoned off through dubious practices.
Furthermore, the CNPP has called for immediate clarification from NNPC on several critical issues.
These include a detailed explanation of how the company arrived at the N4.56 trillion subsidy reimbursement figure, particularly in light of the Federal Government’s repeated statements that fuel subsidies had been discontinued.
CNPP also demanded to know how NNPC could report such a substantial profit while also incurring such a significant expense within a short timeframe.
The CNPP’s concerns are not merely about the financial inconsistencies but also about the broader implications for Nigeria’s economy and governance.
The organisation highlighted the potential damage to public trust and the risk of exacerbating the country’s economic challenges if these issues are not addressed transparently and swiftly.
They warned that the failure to conduct a comprehensive audit could lead to further erosion of confidence in NNPC and, by extension, the government’s ability to manage the country’s resources effectively.
In addition to calling for an audit, the CNPP urged the National Assembly to take immediate and decisive action.
They appealed to federal lawmakers to investigate these allegations thoroughly and hold accountable those responsible for any wrongdoing.
The CNPP cautioned that any inaction on the part of the National Assembly would be seen as complicity in the mismanagement of Nigeria’s oil revenues.
“The citizens of this country will hold federal lawmakers accountable if they fail to act on these serious issues,” the CNPP warned.
The CNPP’s demands reflect a growing frustration among Nigerians regarding the management of the country’s oil sector, which has long been plagued by allegations of corruption and inefficiency.
The NNPC, as the custodian of Nigeria’s vast petroleum resources, has been at the centre of numerous controversies, and the current situation only adds to the urgency for reform and accountability.
The call for an independent forensic audit is not merely a procedural request but a crucial step towards ensuring that Nigeria’s oil wealth is managed in the best interest of its people.
The CNPP’s statement underscores the need for transparency and accountability at all levels of government and serves as a reminder that the nation’s resources must be protected from exploitation and mismanagement.
In conclusion, the CNPP’s demand for a forensic audit of NNPC Limited under the leadership of Mele Kyari is a significant development in the ongoing discourse on Nigeria’s oil sector.
As the pressure mounts, the response of the National Assembly and other relevant authorities will be closely watched, not just by the CNPP but by the entire nation.
The outcome of this situation could have far-reaching implications for the future of Nigeria’s oil industry and the broader economy.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate