NNPCL’s UNACCOUNTED N210t MUST URGENTLY BE TREATED AS THREAT TO NATIONAL SECURITY AND UNDERMINES PRESIDENT TINUBU

PRESS RELEASE

July 16, 2026

NNPCL’s UNACCOUNTED N210t MUST URGENTLY BE TREATED AS THREAT TO NATIONAL SECURITY AND UNDERMINES PRESIDENT TINUBU

We are patriotically concerned and compelled to call on President Bola Ahmed Tinubu to immediately order relevant Security Agencies to join the Public Accounts Committee (PAC) of the Senate of Nigeria, to carry out thorough investigation into the alleged two hundred and ten trillion naira (N210t) allegedly unaccounted for by the Mele Kyari-led Management of NNPCL.

This Call has become very necessary given the fact that the National Security of Nigeria and the Presidency of Nigeria under President Tinubu could easily be undermined or threatened with such huge sum of money in possession of any Nigerian or a group of few Nigerians. Moreover, the deliberate continued refusals by Mr Mele Kyari and his Management Team of NNPCL and the Management of International Oil Companies in joint venture with NNPCL, linked to this sum of N210t, to appear before the Senate Committee on Public Accounts since last year to explain the whereabout of this alleged missing Funds raise more concern for National Security and Presidency of Nigeria.

As Nigerians, we must not pretend not to know that it is established fact in Nigeria and across many countries of the world that military coup d’etats or violent civil uprisings that successfully toppled incumbent governments were made possible only because of huge financial supports from few persons or organisations.

The sum of over two trillion naira allegedly in the hands of any person or group of few individuals in NNPCL and the IOCs is more than enough to successfully sponsor Civil Unrest or Military Coup in Nigeria particularly at this time that Nigerians are heading to another Election Cycle with President Tinubu seeking re-election in 2027.

To be specific, it is undisputed fact that all military coups that have taken place in Nigeria were reportedly sponsored by few persons who had huge funds in their possessions.

It is also imperative to refer Nigerians to the 1999 Nigerian Constitution, as amended, which saddles the President and Commander-in-Chief of the Armed Forces, with the Responsibility to order the Nigerian Armed Forces and other Security Agengcies to take proactive actions to ensure the protection of our Constitutional Democracy and the maintenance of Peace, Order and National Security. This critical duty of President Tinubu must be performed right now by him on this matter.

All Management of the IOCs operating in Nigeria should be arrested and brought before the proposed l joint Senate Committee and Security Agencies to give account.

In conclusion, we hasten to remind Nigerians that all IOCs operating in our Petroleum Industry have not more than 45% of the Joint Venture Companies while Nigerians through NNPCL own the majority share of not less than 55% and the Petroleum Reserves.

In addition, we must remind Nigerians that there are clauses attached to all the operating Licences and Leases granted these IOCs to explore and exploit Oil and Gas in Nigeria and where their activities undermine or are likely to undermine the National Security and or Interest of Nigeria, these Licenses and Leases stand revoked. This was the case during the struggle against Apartheid in South Africa and the unfortunate Civil War in Nigeria when the Nigerian Government rightly revoked Licenses and Leases of some the IOCs.

Signed

*Comrade (Engr) Igbini Odafe Emmanuel.*
National President (VATLAD)