Abuja, June 20, 2025 – The board of the Nigerian National Petroleum Company Limited (NNPCL) reportedly hired five private jets for a retreat in Kigali, Rwanda, drawing sharp public criticism as the company remains under intense scrutiny over its financial management.
Sources familiar with the plan say the delegation, led by Chairman Ahmadu Musa Kida and Group Chief Executive Officer Bayo Ojulari, is slated to converge at an upscale venue in Kigali later this week. The trip, allegedly funded via private jet charters organised by a businessman linked to prominent political circles, comes amid mounting disapproval in the Senate over discrepancies in NNPCL’s audited accounts.
Critics are questioning the optics and appropriateness of such an expensive retread abroad at a time when the company is facing probing over alleged financial irregularities. The trip is expected to cost hundreds of thousands of dollars in flight and accommodation expenses, raising concerns about fiscal responsibility and corporate governance within a parastatal that contributes significantly to Nigeria’s finances.
The Senate recently issued an ultimatum to NNPCL to explain what it described as “mind-boggling” audit discrepancies due to the tune of ₦210 trillion. Lawmakers have demanded urgent answers and have expressed dismay that, amid the probe, the company’s board would retreat overseas instead of addressing oversight concerns at home.
Defenders of the retreat argue that board retreats are standard for strategic planning and may involve critical policy discussions. However, given the context, the move has been widely criticized as tone-deaf and insensitive to stakeholder expectations.
Public sentiment on social media has been overwhelmingly negative, with calls for the board to cancel the trip and focus instead on submitting transparent financial results and engaging meaningfully with federal oversight mechanisms.
