The Senate on Tuesday said the Nigerian National Petroleum Company Limited has requested additional time to defend 19 audit queries covering over N210trn in unaccounted funds from its 2017–2023 financial statements.

The revelation came from the Senate Committee on Public Accounts, which had in July given NNPCL’s Chief Executive Officer, Engineer Bayo Ojulari, three weeks to explain the discrepancies flagged in the Auditor-General’s reports.

The period under scrutiny spans NNPCL’s transition from a public corporation to a limited liability company under the Petroleum Industry Act.

Speaking with journalists after plenary, the committee chairman, Senator Aliyu Wadada (Nasarawa West), confirmed that the company has now submitted its responses but noted that the committee has yet to scrutinize them.

“The Federal Ministry of Education assures that these engagements are being conducted truthfully and in good faith. However, while the government remains committed to improving staff welfare, it will only enter into agreements that are realistic and financially sustainable,” Alausa stated.

He explained that the Yayale Ahmed Negotiating Committee continues to serve as a bridge between the Federal Government and the tertiary institutions’ unions, ensuring that all pending welfare-related issues are addressed through honest and mutually respectful dialogue. “Negotiations are being conducted sincerely, mutually, and respectfully,” he added.