Senator Adams Oshiomhole confronted officials of the Nigerian National Petroleum Company Limited (NNPCL) during a Senate public hearing, fiercely rejecting claims that the company could withhold information as 'secrets' from the public. The exchange occurred after an auditor hinted at undisclosed matters between the company and its management, prompting Oshiomhole to assert that NNPC belongs to all Nigerians and must be transparent.
Oshiomhole demands transparency from NNPC
Reacting immediately to the auditor's suggestion, Oshiomhole said: 'You said something which indicates a very serious problem. You said there are secrets between you and your principal that you can't explain. You are not entitled to keep secrets to your owners.' He stressed that NNPC is wholly owned by Nigerians, unlike private businesses such as Dangote's, and must account for every kobo under its management.
The former Edo State governor reminded officials that lawmakers have a constitutional duty to demand explanations on how public assets are managed. 'We have mandate from the electorate to detail everything that belongs to them that was entrusted to NNPC to manage,' he said.
Senate probe focuses on financial accountability
The heated exchange took place during the Senate's ongoing investigation into NNPC's audited financial statements, where lawmakers are scrutinising outstanding receivables, liabilities, and other financial entries. Oshiomhole questioned what the official meant by 'secrets,' saying the statement raised even more concerns. 'So when you say you want to see NNPC again... what are those secrets that you cannot diverge? You have to reconcile with your principal. That is very pregnant, that statement,' he added.
He further argued that auditors should have engaged NNPC officials to seek explanations before classifying debts or receivables. 'I also want to believe that in arriving at this summary, you had interaction with NNPC. You don't just look at number, you will ask for explanations. It is where you are not satisfied,' Oshiomhole stated.
Oversight aims to improve oil sector transparency
The Senate's investigation is part of broader oversight exercises aimed at understanding NNPC's financial position following concerns raised in its audited accounts. Lawmakers are working to improve transparency and accountability in Nigeria's oil sector, which has long faced criticism over opaque operations and alleged mismanagement.
Oshiomhole's outburst underscores the tension between the legislature and the state-owned oil giant as the Senate pushes for greater openness. The hearing continues as senators demand full disclosure of NNPC's financial dealings.
