The Senate Committee on Public Accounts, chaired by Senator Matthew Urhoghide, has raised concerns over significant discrepancies between the PMS import figures presented by the NMDPRA and those recorded by the NNPCL for the aforementioned years. This issue came to light during a meeting on Thursday, October 21, 2026, according to reports from both Vanguard News and Premium Times Nigeria.
The Senate committee is seeking clarification from the three organizations on these discrepancies. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) was established in 2022 to regulate the Nigerian midstream and downstream oil and gas sectors, replacing the Department of Petroleum Resources (DPR). The Nigerian National Petroleum Company Limited (NNPCL) was transformed from the Nigerian National Petroleum Corporation (NNPC) in the same year.
The Nigeria Extractive Industries Transparency Initiative (NEITI) is an independent, not-for-profit, non-governmental organization established in 2004 to enhance transparency in the management of the oil, gas, and mining sectors in Nigeria.
The Senate’s action is significant as it highlights ongoing issues in the management and reporting of Nigeria’s oil and gas sectors, which are crucial to the country’s economy. The exact reasons behind the discrepancies remain unclear, and further investigation is needed to determine their cause and potential impact.
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