A coalition of civil society organisations has praised the leadership of Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), for his commitment to transparency and accountability as the company formally responds to audit queries involving discrepancies of about ₦210 trillion.

The commendation, issued by the Network for Transparency and Economic Reform (NETER), follows confirmation by the Senate Committee on Public Accounts that NNPCL has submitted detailed responses to 19 audit questions raised by the Auditor-General of the Federation, covering the company’s operations between 2017 and 2023.

NETER President Dr Lukas Yusuf described the move as “a refreshing shift from years of opacity” in Nigeria’s oil and gas sector, saying the company’s cooperation with the Senate represents a new era of corporate accountability in public institutions.

Yusuf said NNPCL’s engagement with the audit process shows “a willingness to embrace oversight and institutional scrutiny”, adding that it aligns with President Bola Tinubu’s reform agenda for state-owned enterprises.

“The decision of the NNPCL management to respond comprehensively to all 19 audit queries is a clear demonstration of reform-minded leadership,” Yusuf said in a statement. “It signals a commitment to fiscal discipline and a readiness to operate within the framework of public accountability.”

He commended Senator Aliyu Wadada, Chairman of the Senate Committee on Public Accounts, for what he described as “a professional and transparent handling” of the ongoing audit process. The committee has confirmed receipt of the company’s documents and is expected to review them in detail in the coming weeks.

Yusuf noted that this marks the first major public audit engagement of NNPCL since its transformation into a limited liability company under the Petroleum Industry Act (PIA).

“For decades, the operations of the former NNPC were largely opaque, with little public insight into its finances,” he said. “This ongoing audit and the company’s openness to legislative scrutiny mark a significant step forward in rebuilding public confidence in Nigeria’s oil institutions.”

NETER also urged Nigerians and the media to allow the process to run its full course, warning against politicising an exercise that could help strengthen governance in the petroleum sector.

“Transparency does not thrive in isolation,” Yusuf said. “It must be supported by citizens, civil society, and the media when genuine efforts are made. This is a collective victory for good governance and for the Nigerian economy.”

The group reaffirmed its intention to monitor the Senate’s review and issue an independent report once the process concludes, describing the development as a potential turning point for public accountability in the management of national resources.

“The transparency we are beginning to see at NNPCL should become the new benchmark for all public institutions,” Yusuf said.