Senator Fumbles Explaining ₦210tn Oil Discrepancy on Channels TV

During a live interview on Channels TV, Senator Wadada defended the Senate committee’s claim of a ₦210 trillion discrepancy in NNPC’s audited accounts from 2017 to 2023. The host questioned how such a sum could exist when Nigeria’s annual federal budgets in that period never exceeded ₦10 trillion. Wadada repeatedly insisted the figures came from the national oil company’s financial statements but struggled to explain the scale. Analysts—including Dr. Kenneth Imeobi and chartered accountant Ezekiel Akande—argue the number reflects aggregated accounting items like liabilities and capital expenditures, not missing funds. They warn that presenting these entries without forensic detail misleads the public and risks investor confidence in Nigeria’s oil sector.

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