Nigeria audits reveal billions in procurement breaches and missing funds

Multiple audits and investigations have revealed widespread financial irregularities and procurement breaches across several Nigerian public institutions.

At the National Agricultural Land Development Authority (NALDA), an investigation uncovered over ₦41.2 billion in infractions. These include non-competitive contract awards, contract splitting to bypass oversight, and payments made to unregistered vendors or without completion certificates.

In the energy sector, the Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to investigate ₦94.4 billion in reportedly diverted or unaccounted oil revenue involving the Midstream and Downstream Gas Infrastructure Fund and the Nigerian Upstream Petroleum Regulatory Commission.

Regarding environmental remediation, the Hydrocarbon Pollution Remediation Project (HYPREP) faced scrutiny over ₦29.6 billion in expenditures. Findings highlighted a denial of access to project records valued at ₦27.5 billion and over ₦1.5 billion in unverified compensation payments.

Additionally, the National Assembly was flagged for internal control breaches during its transition period. Audits identified ₦74.7 million in unaccounted committee operational advances and ₦62.6 million in misapplied funds, alongside a failure to submit standalone financial statements for audit verification.