A coalition of civil society organizations under the banner of the Network for Transparency and Economic Reform (NETER) has praised Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), for his commitment to transparency and accountability in addressing audit concerns raised against the corporation.....KINDLY READ THE FULL STORY HERE▶

According to Nivo News, the commendation followed the Senate Committee on Public Accounts’ confirmation that NNPCL has officially responded to 19 audit queries issued by the Auditor-General of the Federation, clarifying financial discrepancies totaling approximately ₦210 trillion between 2017 and 2023.

NETER President, Dr. Lukas Yusuf, described the company’s action as a groundbreaking shift from the secrecy that had long characterized Nigeria’s oil and gas industry. “For the first time in decades, Nigerians are witnessing genuine openness from their national oil company. The proactive approach taken by NNPCL under Bayo Ojulari demonstrates a readiness to embrace institutional accountability, which is vital for restoring public confidence,” Yusuf said.

He emphasized that Ojulari’s leadership reflects a decisive break from the past and aligns with President Bola Ahmed Tinubu’s broader vision for transparency, fiscal responsibility, and reform in public enterprises. “The transformation under Ojulari’s watch mirrors President Tinubu’s commitment to rebuilding integrity in government-owned corporations. By opening its books for legislative examination, NNPCL is sending a powerful signal that accountability is now the standard,” he added.

The group urged Nigerians and the media to allow the audit review process to unfold transparently, noting that the Senate Committee has acknowledged receipt of the company’s comprehensive responses and is set to commence a detailed examination. Yusuf also commended Senator Aliyu Wadada, Chairman of the Senate Public Accounts Committee, for his professionalism in steering the complex audit process.

He pointed out that this marks the first time in NNPCL’s history that the company is openly engaging in an audit exercise of such depth since its transition to a limited liability company under the Petroleum Industry Act (PIA). “Before now, NNPC’s financial activities were shrouded in mystery. Today, Nigerians can see financial data being shared, audit concerns addressed, and accountability processes working in real time. That is a milestone in our national history,” he stated.

Dr. Yusuf called on Nigerians, civil society, and industry stakeholders to support the ongoing reforms rather than politicize them, describing the process as a national effort to rebuild trust in oil revenue management. “Transparency must be nurtured. Citizens who demand accountability should also acknowledge it when it is genuinely practiced. This is a collective victory for governance, democracy, and economic reform,” he concluded.

NETER reaffirmed its commitment to monitoring the implementation of NNPCL’s audit responses and pledged to release an independent assessment once the Senate completes its review later this year.