The Socio-Economic Rights and Accountability Project, SERAP, has urged Mele Kyari, the Group CEO of the Nigerian National Petroleum Company Limited, NNPCL, to explain the whereabouts of over ₦825 billion and $2.5 billion intended for refinery rehabilitation and oil revenues.
This follows the Auditor-General’s 2021 report, which raised alarms over the mismanagement of public funds within the NNPCL. A SERAP audit, published on November 27, uncovered significant financial irregularities, including ₦825 billion allegedly deducted from crude oil sales for refinery repairs between 2020 and 2021.
The Auditor-General suspects fund diversion and has called for a full investigation to recover the missing money.
Kolawole Oluwadare, SERAP’s Deputy Director, decried the mismanagement of public funds, saying it undermines economic development and perpetuates poverty. SERAP has demanded swift action to address the issue and ensure accountability within Nigeria’s oil sector.
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