Give account of missing N825bn, $2.5bn for refinery repairs – SERAP tells NNPCL

The Socio-Economic Rights and Accountability Project, SERAP, has challenged the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari to account for and explain the whereabouts of the alleged missing N825bn and $2.5bn meant for ‘refinery rehabilitation’ and other oil revenues, as documented in the 2021 annual report by the Auditor-General of the Federation.

SERAP said the yearly report was published on Thursday 27 November 2024.

The organization urged the Group Chief Executive Officer of NNPCL, Mele Kyari, to identify those suspected to be responsible for the disappeared oil money and hand them over to the Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Economic and Financial Crimes Commission, EFCC.

It also urged the NNPCL boss to officially invite former president Olusegun Obasanjo to tour Nigeria’s refineries and to extend the invitation to the EFCC and ICPC to monitor the operations of the refineries, and any spending on them, including the Port Harcourt and Warri refineries.

SERAP, in the letter dated 4 January 2025 and signed by its Deputy Director, Kolawole Oluwadare, said they welcome the NNPCL timely public invitation to former president Obasanjo to tour the Port Harcourt and Warri refineries.

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“While your invitation is clearly not ‘disrespectful’, contrary to the claims by the former president because no one is above the law, we urge you to formally invite him, and to extend your invitation to the EFCC and ICPC for the sake of transparency and accountability.

“Your public invitation to Obasanjo is well-justified, and entirely consistent with the letter and spirit of the Nigerian Constitution 1999 [as amended] and the country’s international obligations on the obligations of the NNPCL and the roles of citizens in preventing and combating grand corruption,” it said

According to the letter, the grim allegations by the Auditor-General suggest a grave violation of the public trust and the provisions of the Nigerian Constitution, national anti corruption laws, and the country’s international obligations.

It added that the allegations have also undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.

“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest.

“According to the recently published 2021 audited report by the Auditor General of the Federation, AGF, the Nigerian National Petroleum Corporation Limited, NNPCL, failed to account for over N825 billion and USD$2.5 billion of public funds meant for ‘refinery rehabilitation’ and repairs, and other oil revenues,” SERAP added.