According to Nigeria’s 2021 Auditor-General’s report, large sums of money were deducted by the Nigerian National Petroleum Company Limited (NNPCL) for things like pipeline maintenance, refinery repairs, and oil subsidies. But when auditors tried to track where the money went, there were no detailed records, no invoices, no receipts, no accountability.

One of the most alarming red flags was ₦82.95 billion claimed to be for “refinery rehabilitation” between 2020 and 2021. Yet, to this day, the refineries are still not working. Another ₦343.6 billion was deducted from crude oil sales for pipeline work again, without clear documentation. The same report flagged over ₦83 billion taken from joint venture accounts between 2016 and 2020, and ₦204 billion removed from oil royalties.

In plain terms: trillions of naira went out, and Nigerians have no idea what was done with it.

SERAP has now asked the Federal High Court in Lagos to force NNPCL and the relevant government ministries to come clean. They want a full account of every kobo spent, and for anyone found guilty of mismanaging the money to be held responsible including referral to anti-corruption agencies like the EFCC and ICPC.

And it doesn’t stop there. In another court case filed earlier in June, SERAP is also challenging NNPCL over a ₦500 billion shortfall in remittances to the national treasury. According to the World Bank, NNPCL made ₦1.1 trillion from oil sales between October and December 2024 but only sent ₦600 billion to the Federation Account. The remaining half a trillion naira? Still unaccounted for.

For everyday Nigerians, the frustration is deep. Fuel prices are rising, electricity is unstable, and the cost of living keeps climbing. Many are asking the same question: if this kind of money was truly spent, why isn’t anything working?

Aliko Dangote recently echoed public sentiment when he questioned why, after spending over $18 billion on Nigerian refineries over the years, they’re still not functioning.

At the time of this report, the government and NNPCL have not issued any official response. No court date has been fixed yet, but pressure is building. Nigerians are watching closely, hoping this won’t be another case that quietly disappears.

As SERAP put it in their court filing:

“These funds were meant to improve lives, not vanish into thin air. Nigerians deserve answers and justice.”