The Socio-Economic Rights and Accountability Project (SERAP) has called on Mr. Mele Kolo Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Corporation (NNPCL), to account for the alleged missing N825 billion and $2.5 billion intended for “refinery rehabilitation” and other oil revenues, as highlighted in the 2021 annual report by the Auditor-General of the Federation.
The 2021 report, which was published on 27th November 2024, raised concerns over the missing funds, and SERAP is now demanding an explanation from Kyari on their whereabouts.
SERAP 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).”
Additionally, the organisation called on Kyari to formally invite former President Olusegun Obasanjo to tour Nigeria’s refineries, along with inviting the EFCC and ICPC to oversee the operations of the refineries, including the Port Harcourt and Warri facilities.
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In a letter dated 4th January 2025 and signed by SERAP Deputy Director Kolawole Oluwadare, the organisation praised Kyari’s public invitation to Obasanjo to visit the refineries, but urged him to ensure transparency by extending the invitation to the EFCC and ICPC as well.
“We welcome your timely public invitation to former President Obasanjo ‘to tour the Port Harcourt and Warri refineries,’” SERAP stated, adding that “while your invitation is clearly not ‘disrespectful,’ as claimed by the former president, no one is above the law.”
The letter further noted that Kyari’s invitation was in line with the Nigerian Constitution 1999 [as amended] and Nigeria’s international commitments on combating corruption.
“The allegations raised by the Auditor-General suggest a severe violation of public trust, the Nigerian Constitution, national anti-corruption laws, and international obligations,” SERAP said. The organisation also emphasised that these alleged misappropriations have harmed Nigeria’s economic development and trapped many citizens in poverty.
SERAP demanded that Kyari take immediate action and resolve the issue within seven days, warning that the organisation would pursue legal action if no response is received.
The 2021 audited report by the Auditor-General highlighted several instances where NNPCL failed to account for large sums, including:
– Over N825 billion meant for refinery rehabilitation and repairs, reportedly deducted from crude oil and gas sales between 2020 and 2021.
– Over N343 billion from domestic crude sales, which was reportedly diverted.
– Over N83 billion from NNPC joint venture operations between 2016 and 2020.
– Over N204 billion from unjustified deductions for oil royalties in 2021.
– Various other instances involving missing funds, royalties, and unpaid debts amounting to billions.
The Auditor-General has raised concerns that these funds may have been diverted, and SERAP is demanding that they be recovered and returned to the Federation Account.
SERAP has also cited Section 15(5) of the Nigerian Constitution, which mandates public institutions to eliminate corruption and abuse of power, reiterating that these missing funds should be properly accounted for to prevent further harm to Nigeria’s economy and public trust.
