Peter Obi, the Labour Party’s 2023 presidential candidate, has strongly condemned the Nigerian National Petroleum Company Limited (NNPC Ltd) over alleged financial irregularities amounting to N210 trillion, uncovered in a recent Senate audit report.
Describing the situation as symptomatic of Nigeria’s deep-rooted corruption, Obi declared the country a “crime scene” plagued by systemic impunity and lack of accountability.
The former Anambra State governor made his remarks in a statement posted Friday on X (formerly Twitter), reacting to revelations from the Senate’s review of NNPC’s audited financial records from 2017 to 2023.
The audit flagged N103 trillion in unverified “accrued expenses” and another N107 trillion in unaccounted receivables, without supporting documentation.
“It is with the utmost sadness that I once again reaffirm what I have consistently said: Nigeria has become a crime scene,” Obi wrote. “No documentation. No accountability. No consequences.”
Obi noted that the amount in question—N210 trillion—is more than double the combined national budgets of N88 trillion over the same seven-year period. He condemned the figures as evidence of institutionalized financial recklessness and a betrayal of public trust.
Calling for urgent reforms, Obi warned that such unchecked financial misconduct endangers future generations and corrodes public confidence in governance. “This criminality masquerading as governance must be stopped and dismantled for a better Nigeria,” he said, demanding decisive action to restore fiscal transparency and national integrity.
As of press time, NNPC Ltd has not responded to the Senate’s findings. The company, now operating as a limited liability entity under the Petroleum Industry Act, faces a one-week deadline issued Wednesday by the Senate Committee on Public Accounts to explain the flagged discrepancies.
The audit revelations triggered outrage during the Senate hearing, where lawmakers grilled NNPC’s Chief Financial Officer, Dapo Segun, over what they termed “mind-boggling irregularities.” The Committee has demanded full documentation to account for the missing trillions.
