A coalition of civil society organizations (CSOs) under the aegis of the National Transparency Network has called for a thorough investigation into the financial activities of the Nigerian National Petroleum Company Limited (NNPCL) under the leadership of its former Group Chief Executive Officer, Mele Kyari.
Addressing a press conference in Abuja on Thursday, the group, led by National Coordinator Dr. Fabian Opialu, demanded the constitution of a Special Commission of Inquiry to investigate the $1.5 billion reportedly spent on the Port Harcourt Refinery, which remains non-functional despite claims of “mechanical completion.”
The CSOs described the expenditure as “reckless,” lamenting that the amount invested in the project surpasses the annual budgets of several African countries, yet yielded no visible results.
They expressed concern over the abandonment of the initial plan to rehabilitate two refineries, questioning the utilization of the funds and the transparency surrounding the contracts.
“Such fiscal mismanagement should have triggered a full-scale criminal investigation involving all local and international stakeholders implicated in this economic debacle,” the group said.
The coalition further raised red flags over what it described as a suspicious $400 million arrangement between NNPCL and Matrix Oil, citing a lack of clarity on the terms of the investment in the refinery’s rehabilitation.
In a sweeping demand for accountability, the CSOs called for a comprehensive forensic audit of all NNPCL financial transactions over the last five years, including the public disclosure of names linked to the alleged misallocation of over 89 million barrels of crude oil to non-state actors.
They insisted that Mele Kyari and any other current or former NNPCL officials found culpable must be prosecuted.
“Despite reports of ‘mechanical completion,’ the Port Harcourt refinery has yet to supply refined products to Nigerians,” Opialu stated. “On behalf of the people, we ask: What was the essence of this enormous spending? Where are the contractors? Can we see the audit trails?”
The coalition decried the absence of accountability surrounding the alleged diversion of 89 million barrels of crude oil, which they termed a “monumental economic sabotage.”
“We demand to know who authorized these transfers, who the beneficiaries are, and why no arrests have been made. The silence is a threat to Nigeria’s economic sovereignty,” the CSOs warned.
They urged President Bola Ahmed Tinubu to act swiftly, building on his reform agenda in the oil and gas sector by ensuring transparency, prosecuting offenders, and safeguarding national assets from further plunder.
“The NNPCL $1.5 billion refinery debacle is not just a case of financial mismanagement; it is a national emergency that must be addressed without delay,” they added.
The CSOs also called on the Economic and Financial Crimes Commission (EFCC), the National Assembly, and the Presidency to take immediate and decisive action in the interest of accountability and national development.
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