FG Launches Forensic Audit of NNPC to Boost Transparency – Edun
The Federal Government of Nigeria has commenced a forensic audit of the Nigerian National Petroleum Company (NNPC) Limited, as part of sweeping economic reforms aimed at rebuilding investor confidence and ensuring transparency in the oil and gas sector.
Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, disclosed this on Tuesday while addressing investors at the Nigerian Investor Forum held on the sidelines of the International Monetary Fund (IMF) and World Bank Spring Meetings in Washington DC.
Speaking to a distinguished group of global investors, including representatives from financial powerhouses like J.P. Morgan, Edun underscored the Tinubu administration’s commitment to accountability and fiscal discipline. He emphasized that the audit would play a key role in identifying and addressing inefficiencies in the state-run oil company’s operations.
“The forensic audit of NNPC is a necessary step to ensure transparency and efficiency in a sector that remains pivotal to our national revenue,” Edun said. “This administration is determined to reset the economy and restore investor confidence through bold and deliberate reforms.”
The minister highlighted a series of economic policy measures already rolled out by the federal government, including the removal of fuel subsidies, exchange rate unification, and an aggressive drive toward revenue generation and debt sustainability.
Edun further reiterated Nigeria’s commitment to creating an investment-friendly climate and restoring macroeconomic stability, noting that the reforms are beginning to yield positive results, particularly in investor sentiment and foreign portfolio inflows.
The Nigerian Investor Forum attracted a wide array of stakeholders from global finance and development institutions, providing a platform for strategic dialogue on Nigeria’s economic direction.
