TI Nigeria, CISLAC’s Rafsanjani Backs NNPCL Probe, Seeks Oil Sector Audit
The Head of Transparency International (TI) Nigeria and Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Auwal Musa Rafsanjani, has supported calls for a full investigation into the Nigerian National Petroleum Company Limited (NNPCL).
Speaking to Channels Television during the Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, D.C., Rafsanjani said a thorough probe of the NNPCL’s operations is necessary.
“It is a welcome development to have an audit of NNPCL,” Rafsanjani stated. “However, we are advocating not just for a financial audit, but also for physical and process audits. Only a comprehensive, multi-layered review can uncover systemic weaknesses and chart a course for genuine reform and revitalization of Nigeria’s oil and gas sector.”
Rafsanjani said the audit must cover all key aspects of NNPCL’s operations. He explained that financial audits assess records and transactions, physical audits verify the existence and state of assets such as pipelines and oil wells, and process audits examine internal controls and operational procedures.
Despite the enactment of the Petroleum Industry Act and Nigeria’s membership in the Extractive Industries Transparency Initiative (EITI), Rafsanjani said the oil and gas sector still faces inefficiency, mismanagement, and lack of professionalism.
“There is no way we can continue like this. If we are serious about liberating the Nigerian economy, the oil and gas sector must be reformed and made truly productive for the people,” said Rafsanjani.
He recommended that the President should no longer double as Minister of Petroleum Resources to ensure independence and oversight of the NNPCL.
“For NNPCL to function as a genuine commercial entity, free from political interference, the President must relinquish the role of Petroleum Minister. This will enable the company to operate independently and be subject to proper oversight from both the Presidency and the National Assembly. Otherwise, it risks continuing as a political spending tool rather than a strategic economic asset,” he said.
Rafsanjani also noted the efforts of former NNPCL Group Chief Executive Officer, Mele Kyari, who, in 2019, oversaw the publication of the company’s first audited financial statements in 43 years. The 2018 report revealed a loss of N803.9 billion (approximately $2.2 billion). Rafsanjani said it was a milestone that should be built upon.
He recalled a previous audit initiated during the tenure of former Central Bank Governor Sanusi Lamido Sanusi, which uncovered major financial discrepancies within the then-NNPC. He said the National Assembly dismissed the report despite its findings.
Rafsanjani expressed hope that the current push for an audit of NNPCL would not be similarly ignored.
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