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Auditor-General’s 808-page report exposes $51m in questionable payments made by NNPC to contractors.
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Findings detail systemic financial rule violations, weak internal controls, and unverified contract executions.
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Report raises fresh concerns over transparency, accountability, and compliance within Nigeria’s oil sector.
The Auditor-General of the Federation has uncovered how the Nigerian National Petroleum Company (NNPC) Limited made payments totalling over $51 million to various contractors under circumstances described as questionable and inconsistent with established financial regulations.
The findings, contained in an extensive 808-page audit report, highlight deep-rooted financial management failures, weak internal controls, and systemic breaches of procurement and accountability procedures within the national oil company.
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According to the report, several of the flagged payments were made without adequate documentation, clear evidence of work done, or proper contract verification. Some transactions were found to have been executed under controversial or unclear contract arrangements, raising concerns about possible abuse of process, inflated invoices, and deliberate attempts to bypass due process.
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The audit also points to persistent violations of federal financial rules, including improper approvals, inadequate supervision, and failures to reconcile accounts. These lapses, auditors say, expose the company—and by extension, the federal government—to significant financial risks and potential losses.
Transparency advocates have described the revelations as another troubling indication of the long-standing challenges surrounding accountability in Nigeria’s oil and gas sector.
Experts argue that without stronger oversight, strict compliance mechanisms, and public disclosure of contract details, the industry will continue to suffer from opacity and inefficiencies.
The Auditor-General’s report is expected to spark further scrutiny from lawmakers, anti-corruption bodies, and civil society groups, many of whom have repeatedly called for comprehensive reforms at NNPC to ensure transparency and protect national assets.
