By Seyi Odewale
The Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Mele Kolo Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPCL) Limited, 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 annual report was published on Thursday, November 27, 2024.
The group urged 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).”
SERAP also urged him “to formally invite former president Olusegun Obasanjo to tour Nigeria’s refineries and to extend your 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.”
In the letter dated January 4, 2025, and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “We welcome your timely public invitation to former president Obasanjo ‘to tour the Port Harcourt and Warri refineries.
“While your invitation is 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.
“The grim allegations by the Auditor-General suggest a grave violation of the public trust and the provisions of the Nigerian Constitution, national anticorruption laws, and the country’s international obligations.
“The allegations have also undermined the country’s economic development, 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 this letter’s receipt and/or publication. 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), NNPCL failed to account for over N825bn and $2.5bn of public funds meant for ‘refinery rehabilitation’ and repairs, and other oil revenues. The Auditor-General fears that the money may be missing.”
It added, “The NNPCL reportedly failed to account for over N82bn meant for ‘refinery rehabilitation and repairs.’ The ‘money was deducted from Crude Oil and Gas sales between 2020 and 2021.
“The Auditor-General fears the money may be missing. He wants the money recovered and remitted to the Federation Account. He also wants the NNPCL to ensure that the amounts due for the Federation Account are not subjected to any deductions before net remittance.
“The NNPCL also reportedly failed to account for over N343 billion ‘being proceeds from domestic crude sales.’ The ‘money, meant for ‘pipelines maintenance and management costs, was unilaterally deducted from the gross domestic crude sales.”
SERAP notes that Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power.
“The Auditor-General has documented reports of the disappearance of public funds from the NNPC for many years. Nigerians continue to bear the brunt of these missing public funds meant for refinery rehabilitation,” it added.
