The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian National Petroleum Company Limited (NNPCL) and its Group CEO, Mele Kyari, to explain the alleged misappropriation of ₦825 billion and $2.5 billion designated for refinery repairs and other oil revenues. This request follows the recent release of the 2021 annual report by the Auditor-General of the Federation. SERAP has also urged Kyari to identify and refer those responsible for the fund mismanagement to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC).
SERAP has urged NNPCL’s CEO, Mele Kyari, to formally invite former President Olusegun Obasanjo to inspect Nigeria’s refineries and to involve anti-corruption agencies such as the ICPC and EFCC in overseeing refinery operations and expenditures, particularly at the Port Harcourt and Warri refineries. In a letter dated January 4, 2025, signed by Deputy Director Kolawole Oluwadare, SERAP welcomed NNPCL’s public invitation to Obasanjo.
They emphasized that the invitation is appropriate and aligns with Nigeria’s legal and constitutional framework, reinforcing the importance of transparency and accountability in combating corruption.
The letter highlights that the serious allegations presented by the Auditor-General indicate a significant breach of public trust, as well as violations of the Nigerian Constitution, national anti-corruption laws, and international obligations. It also claims that these allegations have hindered the country’s economic development, contributing to widespread poverty and limiting opportunities for many Nigerians. SERAP requests that the recommended actions be taken within seven days of receiving or publishing the letter; otherwise, they will pursue legal action to compel NNPCL to address these issues in the public interest.
SERAP noted that the recently published 2021 audit report by the Auditor General of the Federation revealed that the Nigerian National Petroleum Corporation Limited (NNPCL) did not account for over N825 billion and USD $2.5 billion in public funds designated for refinery rehabilitation, repairs, and other oil revenues.