Victor EzejaThe 2023 presidential candidate of the Labour Party (LP), Peter Obi, has expressed shock over the alleged financial irregularities in the Nigerian National Petroleum Company Limited (NNPCL), which amount to N210 trillion.
Obi said the latest financial scandal involving the national oil company has reaffirmed his earlier assertion that “Nigeria has become a crime scene.”
Join our WhatsApp ChannelHe stated this while reacting to the alleged discrepancies observed in the audited financial statement of the NNPCL.
Prime Business Africa had reported that the Senate Committee on Public Accounts made the observation public on Wednesday, 18 June, when it interrogated NNPCL officials regarding irregularities in the amounts reported in the company’s 2017–2023 financial reports.
Chairman of the committee, Aliyu Wadada, gave NNPCL a one-week ultimatum to explain in detail the over N210 trillion in discrepancies found in the company’s 2017–2023 audited financial statements.
In a statement on Friday via his official X handle, Obi said it is not just a mere scandal but reflects “a nation held hosted by monumental corruption.”
Obi expressed concerns that such financial irregularities occurred with no form of documentation or accountability.
“It is with the utmost sadness that I once again reaffirm what I have consistently said: Nigeria has become a crime scene,” Obi stated.
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“How else does one explain the recent revelation by the Senate, which uncovered the audited accounts of the NNPC from 2017 to 2023? The Senate uncovered ₦210 trillion in financial irregularities, ₦103 trillion in so-called “accrued expenses”, and another ₦107 trillion in unaccounted “receivables.” No documentation. No accountability. No consequences.
“This is not just another scandal, it is a clear and damning confirmation of a nation held hostage by monumental corruption.”
While highlighting the gravity of the scandal, Obi shared Nigeria’s annual budget from 2017 to 2023, observing that the total national budget within the said period was not up to 50 per cent of the reported financial discrepancies.
“This is a criminal institutionalised betrayal of the Nigerian people and a grave threat to the future of the society our children will live in,” Obi lamented.
“No responsible nation can continue to function like this without confronting this truth. This criminality masquerading as governance must be stopped and dismantled for a better Nigeria,” the former Anambra State governor added.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
