In a stunning display of extravagance amid rising public scrutiny, the Board of the Nigerian National Petroleum Company Limited (NNPC Ltd.) is set to depart for a luxury retreat in Kigali, Rwanda, this Friday — even as the Senate demands answers over shocking financial discrepancies totalling more than ₦210 trillion in the company’s accounts.
According to exclusive findings by SaharaReporters, no fewer than five private jets have been arranged to fly the NNPC board members and senior executives to Kigali. The trip is reportedly being coordinated by Abdullahi Bashir-Haske, a businessman with political connections and son-in-law to former Vice President Atiku Abubakar.
Sources revealed that the board, led by Chairman Ahmadu Musa Kida and Group Chief Executive Officer (GCEO) Bayo Ojulari, plans to hold the retreat at the upscale Kigali Marriott Hotel — a venue known for its opulent amenities and panoramic views of Rwanda’s scenic hills.
The timing of this high-end getaway has raised serious questions. Just this week, the Nigerian Senate grilled NNPC leadership over troubling irregularities in their latest audited reports. Instead of addressing the allegations in public, the company’s top brass have chosen to hold this retreat far from the prying eyes of Nigerians.
“Instead of facing the damning questions posed by the Senate, they are flying out on private jets for a luxury retreat in Rwanda — all arranged through a politically connected businessman,” a source familiar with the plan disclosed. “This board seems completely disconnected from the economic hardship facing Nigerians.”
Nigeria is currently burdened with record debts and revenue shortfalls, much of which have been linked to NNPC’s long history of opaque operations.
Multiple sources confirmed that four of the five private jets involved are being provided by Bashir-Haske, whose company — AA & R Investment Group — has previously been linked to lucrative oil bloc allocations. Attempts by SaharaReporters to contact Bashir-Haske went unanswered, although an intermediary later claimed he had no involvement with the jets or the NNPC trip — and pleaded with the outlet not to publish the story.
The Kigali Marriott Hotel, where the board will be hosted, boasts room rates ranging from $173 to nearly $3,800 per night, depending on the level of luxury. With over a dozen officials, aides, and personnel expected to attend, the total cost of this retreat — when factoring in air travel, accommodation, allowances, and logistics — is likely to run into hundreds of thousands of dollars.
A senior oil industry insider, speaking anonymously, criticised the trip: “If they wanted to focus on reform or accountability, they could have done this in Abuja or even online. This retreat is about indulgence, not strategy.”
The controversy comes just days after the Senate Committee on Public Accounts issued a one-week ultimatum to NNPC to explain discrepancies in its audited statements — which include ₦103 trillion in accrued expenses and another ₦103 trillion in questionable receivables between 2017 and 2023.
The committee, led by Senator Aliyu Wadada, described the inconsistencies as “mind-boggling.” In some cases, legal fees and auditor charges were listed without proper supporting documents. Even more alarming was a last-minute submission of revised figures that contradicted the official published audit.
“How can a company finalise its audited accounts when trillions of naira are still being reconciled?” Senator Wadada asked. “Such practices risk damaging Nigeria’s credibility in the global financial market, especially as NNPC prepares for its IPO.”
In one particularly shocking revelation, the Senate also found that NNPC subsidiary NAPIMS declared profits of ₦9 trillion between 2017 and 2021 — even while the parent company posted a ₦16 billion loss in the same period.
“How can a subsidiary be raking in trillions while the parent company is losing money? The numbers just don’t add up,” Wadada said.
As millions of Nigerians grapple with inflation, fuel shortages, and declining public services, news of this elite escape by NNPC’s leadership is likely to provoke further outrage. Meanwhile, the Senate insists it will pursue the probe vigorously — promising that accountability will be enforced, no matter how high up the ladder the questions lead.
