Labour Party leader and former presidential candidate, Mr. Peter Obi, has fiercely condemned revelations of N210 trillion in financial irregularities within the Nigerian National Petroleum Company Limited (NNPCL), describing the situation as “a crime scene” and a stark symbol of entrenched corruption in Nigeria’s public sector.

The Senate recently disclosed that NNPCL’s audited accounts from 2017 to 2023 revealed N103 trillion in undocumented ‘accrued expenses’ and an additional N107 trillion in unaccounted receivables, both lacking verifiable documentation.

“This is not just another scandal,” Obi said in a strongly worded statement. “It is a clear and damning confirmation of a nation held hostage by monumental corruption.”

More Than Twice the National Budget

Obi underscored the gravity of the figures, noting that the total national budget between 2017 and 2023 stood at N88.010 trillion—less than half the value of the discrepancies reported. “How else does one explain this level of impunity?” he asked.

He pointed out that in no single year during the seven-year period did the federal government spend even half the amount now reported as missing or unaccounted for in the NNPCL’s books.

“This is a criminal institutionalised betrayal of the Nigerian people and a grave threat to the future of the society our children will live in,” he warned.

Systemic Collapse, Call for Justice

Obi called for urgent structural reform and accountability across governance institutions. “No responsible nation can continue to function like this without confronting this truth,” he said. “This criminality masquerading as governance must be stopped and dismantled for a better Nigeria.”

He closed with a reminder of his campaign vision: “A new Nigeria is POssible.”

As of the time of publication, the NNPCL has not issued a formal response to either the Senate’s audit findings or Obi’s remarks.