Table of Contents
- NETER Urges Nigerians and Media
- Audit Responses Submitted by NNPCL
- Senate Committee Confirmation
- Importance of the Review Process
- Comments from NETER’s President
- Monitoring the Process
- Importance of Transparency
The Network for Transparency and Economic Reform (NETER) has called on Nigerians and the media to allow the Senate Public Accounts Committee to finish its examination of the Nigerian National Petroleum Company Limited’s (NNPCL) audit responses without interference.
This follows the company’s submission of comprehensive answers to 19 audit queries raised by the Auditor-General of the Federation regarding discrepancies amounting to approximately N210 trillion in its financial statements from 2017 to 2023.
DAILY POST reports that the Senate Committee on Public Accounts has confirmed the receipt of these documents and will initiate a thorough review in the coming days.
In a statement released on Friday, NETER emphasized the importance of allowing the review process the necessary time and independence to ensure a fair outcome.
NETER’s President, Dr. Lukas Yusuf, stated that the committee’s examination of NNPCL’s financial records would contribute to enhancing institutional accountability within the oil and gas sector.
He noted that this is the first instance in which the company is publicly engaging with an audit of this scale since becoming a limited liability company under the Petroleum Industry Act (PIA).
Yusuf further mentioned that NETER will continue to observe the process and provide an independent assessment once the Senate concludes its review.
He also highlighted that transparency and consistent public oversight are crucial in restoring confidence in the management of Nigeria’s oil revenues.
Frequently Asked Questions
What is the purpose of NETER's statement?
NETER's statement urges for the Senate Public Accounts Committee to be allowed to complete its review of NNPCL's audit responses independently and without interference.
What are the discrepancies mentioned in the audit?
The discrepancies amount to approximately N210 trillion in NNPCL's financial statements between 2017 and 2023.
What does Dr. Lukas Yusuf emphasize regarding the audit?
Dr. Lukas Yusuf emphasizes that the review will strengthen accountability within the oil and gas sector and that transparency is vital for rebuilding public trust.
