The Socio-Economic Rights and Accountability Project (SERAP) has called on Mele Kyari, the Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), to provide an explanation for the missing N825 billion and $2.5 billion from the company’s operations.
These funds, which were allocated for refinery rehabilitation and other oil revenues, were flagged in the 2021 annual report by the Auditor-General of the Federation.
In its demand, SERAP urged Kyari to account for the missing funds and to identify individuals involved in the alleged mismanagement.
The organization also called on Kyari to invite former President Olusegun Obasanjo to tour Nigeria’s refineries, including the Port Harcourt and Warri facilities, in the presence of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
The missing funds, according to the Auditor-General, include N82 billion intended for refinery rehabilitation, N343 billion from domestic crude sales, and N204 billion in oil royalty deductions, among other sums.
The report raised concerns that these funds may have been diverted, undermining Nigeria’s economic development and contributing to widespread poverty.
SERAP gave Kyari a seven-day deadline to address the issue, warning that legal action would be pursued if the NNPCL fails to respond.
The organization emphasized that the allegations represent a significant violation of public trust and the Nigerian Constitution, urging the government to take immediate action to recover and remit the missing funds.
