Absorbing NNPCL more than ‘lost N825BN, $ 2.5BN is intended to repair refineries’

The Socio-Economic and Accountability Project (SERAP) has filed a lawsuit against the Nigerian Petroleum Company (NNPC) Nigeria is limited to “the failure to explain and explain the existence of allegedly lost N825 billion and $ 2.5 billion intended for ‘rehabilitation of transfer’ and other oil income.”

The lawsuit followed the burdensome accusation documented in the 2021 report audited by the Federation Auditors, published on November 27, 2024. Aliko Dangote, President of the Dangote Group also last week said that the NNPCL refinery might never work again, even though $ 18 billion was spent on them.

In the FHC/L/Misc/722/25 lawsuit number submitted last Friday at the Federal High Court in Lagos, absorbed: “Mandamus ordered to direct and force NNPCL to take into account and explain the existence of the alleged N825 billion and USD $ 2.5 billion in public funds intended for ‘refinery refinery’ and USD ‘and USD” USD ” USD “public funds intended for ‘refinery refineration’ and USD” USD “.

Absorbing also asked the court to “direct and force NNPCL to restore and send to a federation account that was allegedly lost by N825 billion and USD $ 2.5 billion in public funds intended for rehabilitation and refinery repair.”

Absorbing also asked the court to “direct and force NNPCL to identify those who were responsible for lost oil money, collecting them for the full amount involved, and handed it over to the right anti -corruption institutions for investigation and prosecution.”

In the lawsuit, SERAP argues that: “The accusation of gloomy by auditors [and Mr Aliko Dangote] Suggest serious violations of public trust and the provisions of the Nigerian constitution, national anti -corruption laws, and international human rights obligations and the country’s anti -corruption. “

Absorbing also argues that, “giving the reliefs sought will make a blow to the impunity of those responsible for the lost oil money intended to repair the country’s refinery and ensure that the money was returned for the victims of NNPCL – the Nigerians.”

According to Serap, “This gloom accusation has also damaged the country’s economic development, trapping the majority of Nigerians in poverty, and contributes to the level of expenditure of high deficits by the government.”

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Absorption also argues that, “Most Nigerians have seen a little benefit from the rich oil of their country, even when NNPCL continues to fail to calculate the missing billions of dollars that are needed to improve or replace the country’s dysfunctional refineries.”

According to the absorption, “Auditors have been documenting reports on the loss of public funds from NNPCL. Nigeria continues to bear the burden of the lost public funds which are intended for refinery rehabilitation.”

The lawsuit filed in the name of absorbing by his lawyer, Kolawole Oluwadare, MS Oluwakemi Oni, and MS Valentina Adegoke, read partly: “Lost oil income reflects the failure of NNPCL accountability more generally and directly related to the continuing failure of the institution to uphold transparency and accountability.

“According to the new 2021 report, issued by the General of the Federation (AGF) auditor, Nigeria National Petroleum Corporation Limited (NNPCL) failed to calculate more than N825 billion and USD $ 2.5 billion in public funds intended for ‘refinery rehabilitation’ and repairs, and other oil income.

“Auditor-generally worried that the money might be lost.

“NNPCL reportedly failed to calculate more than N82 billion [N82,951,595,510.47] intended for ‘refinery rehabilitation and repair.’ ‘The money was deducted from the sale of crude oil and gas between 2020 and 2021’.

“Auditors are worried that the money might be lost. He wants money to be restored and sent to a federation account. He also wants NNPCL ‘to ensure that the amount due for the federation account is not subject to reduction before the clean money.’

“NNPCL is also reported to have failed to calculate more than N343 billion [N343,642,598,726.51] ‘It becomes the result of the sale of domestic crude oil.’ ‘Money, intended for’ pipe and management maintenance costs, unilaterally reduced from the sale of gross domestic crude oil. ‘

“Auditors are worried ‘the money might have been transferred.’ He wanted the money to recover and be sent to the Ministry of Finance.

“NNPCL also reportedly failed to calculate more than N83 billion [N83,659,813,739.99] “Another income from NNPC joint venture operations from 2016 to 2020.” The money was withdrawn from the CBN/NNPC sinking fund account [a suspense account]. ‘”

“The auditors are concerned that this practice ‘has made a federation using loans.’ He wants ‘money to recover and be sent to the Ministry of Finance.’ “

“NNPCL is also reported to have failed to calculate more than N204 billion [N204,853,744,047.39] “Become an unjustified reduction from oil royalties for 2021.” “The money is caused by the Department of Oil Resources (DPR) now the Nigerian Upstream Oil Regulation Commission (NUPRC).” The auditors are worried about ‘the money might have been transferred.’ He wanted the money to recover and be sent to the Ministry of Finance. “

“NNPCL is also reported to have failed to calculate more than N3.7 billion [N3,748,581,281.27] “It is said to be paid to the company as a shortage of sales of MT Cargo of PMS.” Auditors are worried that the money might be lost. He wanted the money to recover and be sent to the Ministry of Finance. “

“NNPCL is also reported to have failed to calculate more than N28 billion [N28,654,179,867.00] “Being an extraordinary bridge allowance from NNPC retail for 2021.” “

“NNPCL failed to calculate more than N13.5 billion [N13,5559,658,148.91] “Being a claim for extraordinary bridges from three main oil marketers in 2021.” “

“The auditors are concerned that this ‘might have caused difficulties in funding the 2021 budget.’ He wants ‘the money to recover from the NNPC retail and the main oil marketer and be sent to the federation account.’ “

“NNPCL is also reported to have failed to calculate more than N15 billion [N14,134,947,949.80 and N1,087,533,332.62] “It becomes an extraordinary income from the debt owed by twenty -six marketers for 2021.” The auditors want ‘money to recover from oil marketers and be sent to a federation account.’ “

“NNPCL reportedly failed to reach more than $ 29.6 million [$29,648,970.36] Being extraordinary royalties paid to the CBN Account Oil Resources Department. ‘Auditors-Generally worried this’ might cause difficulties in funding the 2021 budget.’ He wants the money to recover. ‘”

“NNPCL failed to collect more than $ 2 billion [$2,260,448,992.45] ‘Became an extraordinary royalty of oil from oil companies for 2021’, and failed to collect more than N48 billion [N48,218,163,192.67] ‘It is also an extraordinary royalty of oil from the oil company.’ “

“Auditors are worried that ‘the money might be lost.’ He was worried that ‘this might cause difficulties in funding the 2021 budget.’ He wants ‘money to recover from an oil company and be sent to a federation account.’ “

No date set for the lawsuit session.