Bayo Ojulari
By Olamilekan Abayomi
The House of Representatives’ Public Accounts Committee (PAC) has formally summoned Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), to appear before it on December 15, 2025, to answer questions over the 2021 audit report of the national oil company. In a letter dated early December, the committee cited several irregularities flagged by the Office of the Auditor‑General of the Federation, including alleged payments to contractors for projects that were later abandoned and failure to deduct statutory taxes from those payments.
According to the audit, the NNPCL’s financial statements for 2021 showed a series of questionable transactions, such as irregular payments made by the Chief Finance Officer without the required approval from the Group Managing Director. The report also highlighted discrepancies in the handling of joint‑venture cash calls and a lack of transparency in subsidy claims, prompting the committee to demand a detailed explanation from Ojulari himself.
When the committee first reached out, Ojulari’s office responded that he was tied up with a conflicting engagement at the Presidential Villa and would be unable to attend the initial hearing. The PAC, however, deemed the excuse “disrespectful and obstructive” to the legislative oversight process, and insisted that the chief executive appear in person to address the audit findings directly.
The summons comes amid heightened scrutiny of the NNPCL’s financial management. Over the past year, the company has faced multiple inquiries into its procurement practices, fuel‑subsidy accounting, and the handling of revenue from the country’s oil assets. Lawmakers have warned that any further non‑compliance could trigger more severe parliamentary actions, including possible impeachment proceedings against senior officials.
In its correspondence, the committee set a firm deadline of December 15 for Ojulari to present himself, along with any supporting documents that could clarify the audit discrepancies. The letter also warned that failure to comply would compel the PAC to invoke its powers under the Constitution to compel attendance and could lead to contempt proceedings.
The development has already stirred reaction across the political spectrum, with some legislators calling for a broader review of the NNPCL’s governance structure, while others cautioned against rushing to judgment. As the deadline approaches, all eyes will be on the hearing to see whether Ojulari can provide satisfactory answers that restore confidence in the country’s flagship oil company.
