By Our Correspondent

The Senate Tuesday through its committee on Public Accounts , rejected written explanations forwarded to it by management of the Nigerian National Petroleum Company Limited ( NNPCL) on unaccounted N210trillion from 2017 to 2023.

The Committee headed by Senator Aliyu Wadada Ahmed ( Nasarawa West) had on the strength of 19 different queries raised against NNPCL by Office of the Auditor – General of the Federation in the financial reports of 2017 to 2023 , directed NNPCL to account for N210trillion financial infraction as contained in the reports .

Though the management of NNPCL in line with the directive, responded to the 19 queries through written explanations but failed to physically appear before the Committee on Tuesday ( November 11, 2025) as earlier suggested and agreed .

Irked by the development , the committee through its Chairman at the session , slammed the Group Chief Executive Officer ( GCEO) of NNPCL, Engineer Bayo Ojulari for offensive evasiveness which according to him, will not make the committed recognise any representation from NNPCL again ,

He said : ” Today, November 11, 2025, was a date chosen by NNPC. it is rather unfortunate that none of the officials of NNPC is here on a date they themselves chose.”

“The public has been waiting for this. It is important that we keep Nigerians informed. Even though we cannot conclude today in the absence of NNPC officials, the committee must share our findings based on the responses already submitted by NNPC.”

He revealed that NNPC’s financial submissions raised serious red flags — particularly claims of ₦103 trillion in accrued expenses and ₦107 trillion in receivables, totaling ₦210 trillion between 2017 and 2023.

“NNPC claimed ₦103 trillion as accrued expenses and ₦107 trillion as receivables — amounting to ₦210 trillion. On question eight, NNPC’s explanation on the ₦107 trillion receivables — equivalent to about $117 billion — contradicts available facts and evidence provided by NNPC itself. The committee is duty-bound to reject this”, he said

He further questioned how NNPC could pay ₦103 trillion in cash calls to joint venture partners in 2023 alone, despite generating only ₦24 trillion in crude revenue between 2017 and 2022.

> “Cash call arrangements were abolished in 2016 under the Buhari administration. How can NNPC claim to have paid ₦103 trillion in one year, when it only generated ₦24 trillion in revenue over five years? Where did NNPC get that money?

“As far as this committee is concerned, that figure is unjustifiable and unacceptable. The ₦103 trillion must be returned to the Treasury. This will be concluded when NNPC appears before us.”

He added that the committee also outrightly rejected the ₦107 Trillion receivables which stand for assets in accounting.

“NNPC claimed of ₦107 trillion as receivables — part of which they said was held in defunct banks. However, no bank or amount was named.

“This lack of transparency is unacceptable. By the time you combine both figures — ₦103 trillion and ₦107 trillion — NNPC must account for ₦210 trillion.

“If the present management of NNPC is finding it difficult to provide acceptable answers, it is better they say so. The committee will not hesitate to subpoena former officials of NNPC and NAPIMS.

“NAPIMS, by law, is a department under NNPCL and cannot maintain an independent account. Yet, NAPIMS has been operating as if it were a separate entity”, he stressed .

He warned that any future absence of NNPC’s Group Chief Executive Officer (GCEO) before the committee would no longer be tolerated.

> “At any point this committee invites NNPC, the Chief Executive must appear in person. Being out of the country will no longer be accepted as an excuse. The next invitation will require the GCEO’s physical presence.”

In their separate remarks , all members of the committee present at the session , supported the decisions announced by the Chairman .

By Efemena Uwheru, Yenagoa.

For African nations to successfully transform their abundant hydrocarbon resources into shared prosperity for their citizens and economic development, they have to make local content policies and effective implementation the cornerstone of their energy future, the Executive Secretary Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe has advised.

He made the recommendation on Tuesday at the 4th edition of African Petroleum Producers Organisation (APPO) conference and exhibition on local content in Africa, holding in Brazzaville, Congo.

The event is dedicated to advancing local content implementation and energy development in Africa, and is attended by industry stakeholders across the continent.

Engr. Ogbe led Nigeria’s delegation as well as represented the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri at APPO’s statutory ministerial council meeting, where a new Secretary General of the continental body was elected.

Referencing the continent’s rich endowments of over 125 billion barrels of proven crude oil reserves, contributing over 10 percent of world’s crude oil supply, and over 620 trillion cubic feet of natural gas, the Executive Secretary posited that African countries would not derive optimal value from their hydrocarbon resources without implementing local content policies, thereby creating value from their industry’s operations and connecting other sectors of their economies.

Nigeria’s experience and successes over the past 15 years provides a living example of what deliberate local content policy can achieve, he said.However, he stressed that local content is not merely a regulatory framework, rather it is a development strategy which must be implemented with pragmatism. According to him, local content “represents our resolve to build indigenous capacity, retain value within our borders, and create sustainable jobs for our young and dynamic population.

”Buoyed by the successes of local content implementation in the Nigerian oil and gas industry and linkage sectors, Ogbe restated NCDMB’s commitment to sharing its expertise, learnings, frameworks, and digital tools with other African petroleum producing countries to strengthen local participation across the continent. He confirmed that NCDMB’s vision extends beyond Nigeria, and the agency has built institutional frameworks that can serve as models for other African nations.

The templates include the local content policy design, implementation structures, monitoring templates, and digital compliance systems like the NOGIC Joint Qualification System (NOGIC JQS).

Speaking further, he canvassed the establishment of an African Energy Services Network to foster collaboration among member states of the African Petroleum Producers Organisation (APPO) for better value retention in the continent’s oil and gas projects.Ogbe who is Nigeria’s representative to APPO’s Executive Board stated that the Network would add a fresh layer to the strategic vision that birthed such continental organisations as APPO, African Energy Bank, and the African Continental Free Trade Area (AfCFTA), whose collective focus is the advancement of intra-country trade, local content and cross-border linkages to achieve energy security and rapid economic development in Africa. It would be “a framework where fabrication, manufacturing, and engineering hubs across the continent complement each other, creating a pan-African industrial ecosystem with existing capacities of Nigeria available to drive transformative processes,” he added.He expressed satisfaction with the establishment of the African Energy Bank, an initiative championed by APPO and Afreximbank for competitive financing in aid of oil and gas projects in Africa. He promised that “NCDMB stands ready to collaborate, providing technical expertise and project linkages to make the Bank’s objectives a reality,” while urging all stakeholders to demonstrate equal commitment to the Bank to facilitate real growth and sustenance.

He informed the audience which comprised oil and gas policymakers and stakeholders from across the continent that Nigeria has built world-class infrastructure, such as the multibillion-dollar Egina FPSO Integration Yard at LADOL Free Trade Zone, Lagos, “a first-of-its-kind facility in Africa,” which successfully integrated a Floating Production Storage and Offloading Unit, with a storage capacity of 200,000 barrels of crude oil. The facility can serve as a regional hub for FPSO and modular platform integration for the Gulf of Guinea and beyond. He also mentioned that NCDMB had established oil and gas parks in Bayelsa and Cross River States, to host manufacturing companies producing equipment and components for the oil and gas industry, and thus offering opportunities for small- and medium-scale enterprises (SMEs) and prospective investors to participate. The NCDMB’s Centre for Research and Development (R&D) programme fosters collaboration between the academia, industry, and start-ups, is also available for joint African research initiatives to develop African solutions for African problems, he added.Giving further insight on the Board’s programmes, the Executive Secretary, said the Board, through its Human Capacity Development (HCD) programmes, has trained over 20,000 Nigerians in specialised oil and gas skills, which could serve as a model replicable across African energy-producing countries.He indicated that Nigerian service companies are desirous to forge joint ventures with their African counterparts to deliver engineering, marine, fabrication, and digital energy services. In addition, cross-border investments in modular refineries, gas processing plants, and local manufacturing could be promoted.

Aside the Executive Secretary’s keynote speech, other senior officials of the Board made presentations and participated in panel discussions, where they showcased Nigeria’s successful local content models, drawing commendations and interests from different countries eager to understudy and implement some of Nigeria’s models in their industries.

One of the sessions explored NCDMB’s journey on local content, lessons learnt and experiences.

The panel was moderated by the General Manager, Corporate Communications NCDMB, Dr. Obinna Ezeobi and the panelists included Director, Corporate Services, Dr. Abdulmalik Halilu, General Manager, Finance and Accounts, Mr. Mubarak Zubair, General Manager, Monitoring and Evaluation, Upstream, Mr. Silas Omomehin Ajimijaye and the Managing Director, Cypher Crescent Ltd, Mr. ThankGod Egbe.

Other officials who participated in similar panel discussions and discussed the Board’s programmes included the Manager, Board’s Projects in the Zonal Coordination Division, Mr. Adebayo Joseph and Manager, Facilities and Logistics, Mr. Kamsalem Mohammed.

By Our Correspondent

Disturbed by the alarming rate of revenue loss to crude oil,Senate Committee investigating repeated sabotage of oil installations, and crude oil theft in the Niger Delta region on Wednesday revealed reasons for a humongous loss in $300 billion revenue from 2015 to date.

The 23-man committee headed by Senator Ned Munir Nwoko (APC-Delta) identified systemic irregularities, poor measurement standards and weak enforcement in the oil and gas sector resulting in unaccounted crude oil sales.

Presenting its interim report to the Committee of the Whole, the adhoc panel which is tasked with investigating the incessant and nefarious acts of crude oil theft and related sabotage in the region, said its submissions stems from oral submissions made by stakeholders, documents, records and findings from the general public.

He said the 40-page interim report recommends several measures to tackle crude oil theft, strengthen accountability, and recover lost revenues, adding that the committee, after extensive assessment, recommended that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) should strictly enforce internationally accepted crude oil measurement standards at all production sites and export terminals.

The report further urged the Federal Government to equip security agencies with modern surveillance technology.

“Including unmanned aerial vehicles (UAVs) to combat oil theft as well as to establish a Maritime Trust Fund to enhance maritime infrastructure and safety”.

Other recommendations include the establishment of special courts to prosecute crude oil thieves, full implementation of the Host Communities Development Trust Fund under the Petroleum Industry Act (PIA).

“And the handover of abandoned wells to the NUPRC for proper management and utilisation”.

Still, other recommendations include the strict implementation and enforcement of internationally acceptable crude oil measurement standards at all production sites and export terminals or the restoration of the Weights and Measures Departments of the Federal Ministry of Industry, Trade and Investment to the upstream sector.

It also recommended that this should be followed with empowering the Weights and Measures Departments to acquire and use state of the art measuring equipment at all production sites and export terminals.

According to it, this would promote and strengthen accurate measurement, transparency and accountability in the oil and gas industry.

The committee also proposed that it be empowered to “track, trace, and recover” all stolen crude oil and its proceeds, locally and internationally — a recommendation that immediately sparked debate among lawmakers.

Some Senators while commending the committee’s work, cautioned against exceeding legislative powers.

PDP Bauchi Senator, Abdul Ningi described the report as “detailed and commendable,” but argued that the committee’s mandate should not include direct recovery of stolen funds.

“We can track and trace, but recovery is beyond the powers of the Senate. The committee should specify losses, locations, and report back for referral to agencies such as the EFCC or ICPC,” he said.

Ningi noted that consultant reports cited in the document revealed crude oil revenue shortfalls of $81 billion between 2016 and 2017, in addition to $200 billion in unaccounted proceeds from 2015 to date.

Chairman Senate Committee on Appropriations, Sen. Solomon Adeola supported Ningi’s position, saying the recovery process must be handled by the executive arm.

“The committee should provide more details — names of companies, figures, and locations — before any further steps are taken.

“It is not the role of the Senate to recover funds; that lies with appropriate agencies,” Adeola said.

Other Senators, including Sen. Ibrahim Dankwambo (APC-Gombe), also called for a more comprehensive final report.

This he said is to identify all “actors” involved in the theft, the specific wells and rigs affected and quantities of crude lost through illegal bunkering and pipeline leakages.

“The title of the report includes ‘the actors,’ so we must know who they are. It is a complex web involving companies, individuals, and illegal refineries. We need well-by-well and rig-by-rig data,” Dankwambo said.

Sen. Enyinnaya Abaribe (APGA-Abia) urged patience, stressing that since the report was interim, the Senate should only receive it and await the final submission.

In his remarks, President of the Senate, Godswill Akpabio commended Sen. Nwoko and his team for their “thorough and courageous work,” but aligned with colleagues who said the Senate could not directly recover stolen funds.

“Our duty is to track and trace. Recovery is a separate mandate handled by government agencies. Nonetheless, we encourage the committee to continue its work and present a final, comprehensive report,” Akpabio said.

He described the estimated $300 billion in crude oil losses as “staggering,” saying it underscores the need for urgent reforms and stricter oversight of Nigeria’s petroleum sector.

The Senate thereafter resolved to adopt the interim report and directed the ad hoc committee to continue its investigation and submit a final report with detailed findings and actionable recommendations.