CALL ON THE SENATE TO FOCUS ON THE REAL ISSUES IN THE PETROLEUM SECTOR AND REFRAIN FROM FREQUENT EMBARRASSING CIRCUS SHOW, WASTE OF TIME AND PUBLIC RESOURCES IN THE NAME OF PROBING INEXISTENT AND IMAGINARY MISSING N210 TRILLION IN THE NIGERIAN NATIONAL PETROLEUM COMPANY LIMITED (NNPCL)
Being the Text of a Press Conference by Empowerment for Unemployed Youth Initiative and Coalition of Civil Society Groups on Transparency and Accountability in Abuja.
Since last year, the Senate of the Federal Republic of Nigeria through its Public Accounts Committee has embarked on a senseless rigmarole and shadow chasing in the name of recovering N210 trillion naira missing (only in their imagination or mischief) from the NNPCL.
This circus show is meant for the committee to appear to be doing something, thereby inadvertently tarnishing the images of those the so called investigation points at and infuriating uninformed Nigerians against them. We insist that the Senate knows deep in their hearts that no such amount of money is missing. So only them can explain what they are actually up to.
By the way, what moral standing, credibility or credentials does the Senate or indeed the National Assembly possess to scrutinise, query or enquire into any alleged wrongdoing? Who investigates their own alleged financial malfeasance, like “prayers sent to their inboxes”?
We think the Senate should rather be sober at this time the National Assembly is being accused of legislative rigging of the 2026 Electoral Act or deliberate insertion of clauses clearly designed for electoral fraud. This Senate as presently constituted lacks the moral standing for any serious oversight.
Let us further remind Nigerians that since the inauguration of the 3rd National Assembly till this 10th one, the National Assembly has never recovered a kobo for Nigeria in all their probes. Instead, a lawmaker has gone to prison for receiving bribe during an orchestrated probe of the oil sector (which is exactly the same as this one by Public Accounts Committee of the Senate). Other ones ended in allegations of bribery, extortion, receipt of favours and “off your mic”. The National Assembly, particularly the Senate should be ashamed, rather than thinking that they can deceive Nigerians.
Our suspicion based on the antecedents of the National Assembly is that the Senator Aliyu Wadada Public Accounts Committee may be trying to force the accused persons to “come and see them” or to settle the matter. This is electioneering time and we know some of the politico-financial undercurrents.
This N210 trillion in question represents N103 Accrued Expenses and N107 receivables. They cannot all be missing! Let us admit that there could be gaps and documentation failures which could be scrutinised by more serious government agencies, particularly the anti-corruption agencies where the past managers of the NNPCL have gone to explain themselves. The Senate have never been known to resolve any issue of corruption. It only taints citizens with criminality and end up producing nothing for the suffering masses of the country, while most times getting favours or being roped in the probes.
The Economic and Financial Crimes Commission (EFCC) has already looked at the records under review. We believe that if there are further questions, those involved will answer them or face the consequences there of. It is not for the Senate to continue to create the impression that some people may have stolen N210 trillion of public money. It is not correct under the circumstance and it should stop. This appears to be pure legislative shenanigans.
We wish to advise the Senate to help the unemployed, underemployed and masses of the Nigerian people by focusing on how NNPCL can deliver better under the current leadership where the business of the company appears more secret and veiled than security information and activities.
For example, Nigerians now know that the public refineries were indeed functioning, but said to be producing at a loss. Nigerians deserve more details, especially about the fate of the refineries. Are there plans to pluck the technical holes reported? Or are they being sold; to who and at what cost?
These issues are the more relevant and urgent issues. They speak to economic realities: employment, productivity, revenue, balance of trade etc.
This Senate is known to hide its own records and sanction their members who attempt to reveal the rot therein. We reiterate that it lost its moral authority to investigate anybody. Nigerians are not fooled.
We all support public accountability. But when they come with deliberate public misinformation, bandied figures and attempt to embarrass those who offered meritorious national service, it must be rejected in the interest of justice and fairness. The Senate should abandon this embarrassment of a so called probe and focus on issues that are relevant to national economy and development.
It is our hope that the Senate will take this path of honour and stop spilling fake corruption news which targets persons that have served Nigeria better than most of them.
Thank you!
Comrade Danesi. Momoh Prince
Convener
Empowerment For Unemployed Youth Initiative
Comrade Igwe Ude-Umanta
Convener
Guidance of Democracy and Development Initiative