A coalition of energy policy consultants has accused the Nigerian National Petroleum Company Limited (NNPCL) of operating with insufficient transparency, alleging that some of its financial obligations could amount to a “backdoor” return of fuel subsidy.

The Association of Energy Policy and Development Consultants (AEPDC), in a statement by its National President, Dr. Ibrahim Danjuma, in Abuja also called on the Group Chief Executive Officer of NNPCL, Bayo Ojulari, to resign if he could not restore public confidence in the management of the national oil company.

The association said concerns over the company’s financial management had intensified following figures contained in its 2024 financial records, which it claimed showed total claims and under-recovery costs of about ₦17.5 trillion.

According to the group, approximately ₦7.13 trillion of the amount was reportedly categorised as energy security and pipeline protection expenses.

While acknowledging the importance of protecting critical oil and gas infrastructure, the consultants said expenditures running into trillions of naira should be backed by detailed disclosures, measurable outcomes and independent accountability.

It said Nigerians deserved to know the beneficiaries of the contracts, the procurement processes adopted, contract durations, performance benchmarks and the value delivered to the country.

“Energy security cannot become a blanket description under which every expenditure is concealed from public scrutiny,” the association said, arguing that such a practice would be inconsistent with accepted principles of corporate governance and transparency.

The consultants also urged the National Assembly to conclude its investigation into energy security contracts and related expenditures and make its findings public.

The group recalled that the relevant committees of the National Assembly had inaugurated a joint investigative panel to examine the contracts and expenditures, but expressed concern that no comprehensive report on the outcome had been made available to Nigerians.

“The silence surrounding this investigation only fuels public suspicion,” the association said, stressing that Nigerians had a right to know whether the sums classified as energy security represented prudent investments or reflected weaknesses requiring corrective action.

The AEPDC further raised concerns over what it described as a growing public perception that subsidy-like obligations were being reintroduced through indirect financial mechanisms.

“It is difficult to convince Nigerians that subsidy has ended when massive claims continue to emerge under various classifications whose operational details remain largely unavailable for public scrutiny,” it said.

The consultants, however, stressed that their concern was not necessarily that the expenditures were unjustified, but that NNPCL should provide verifiable evidence explaining their purpose and value.

“A commercially driven national oil company should not operate behind a veil of secrecy,” the group said, adding that public trust could only be sustained through openness, regular disclosures and demonstrable accountability.

On Ojulari’s leadership, the association said the NNPCL chief executive had an obligation to demonstrate transparent management and accountable corporate governance.

It argued that if the GCEO could not inspire confidence through timely disclosures and transparent administration, he should consider stepping aside in the interest of the institution and the country.

The group also called on the Federal Government to strengthen oversight of NNPCL and ensure that spending on energy security, pipeline surveillance and strategic infrastructure protection was subjected to periodic independent audits and public reporting.

It said restoring confidence in the national oil company would require stronger institutional transparency, rigorous legislative oversight and greater accountability in the management of Nigeria’s petroleum resources.