Ten Questions for NNPC on its 2018 Subsidiary Accounts

Ten Questions for NNPC on its 2018 Subsidiary Accounts examines the financial disclosures of the Nigerian National Petroleum Corporation (NNPC) against the backdrop of growing concerns over transparency, accountability, and financial management in Nigeria’s oil sector. The publication focuses on NNPC’s 2018 subsidiary accounts, which represented a significant step toward greater public disclosure of the corporation’s financial activities.

The report analyses the available subsidiary accounts to identify inconsistencies, gaps, and areas requiring further clarification. It places these findings within the broader context of calls for reform in the petroleum sector, including the passage of the Petroleum Industry Bill and Nigeria’s engagement with the Extractive Industries Transparency Initiative (EITI), which promotes greater disclosure of revenues, payments, and financial relationships within the extractive sector.

Rather than simply presenting financial figures, the publication translates the findings into ten critical questions directed at NNPC, highlighting areas where additional information and explanation were needed. It demonstrates how scrutiny of public financial disclosures can strengthen transparency, improve institutional accountability, and enable citizens, journalists, researchers, and policymakers to better understand the management of Nigeria’s oil resources.