Secrets Reporters
Nigerians will be witnessing series of financial misappropriation investigation and public hearings of those heading government sectors of the oil and gas industries, if information available to SecretsReporters is anything to go by.
Documents seen and reviewed by this online medium which has also been sent to the National Assembly since July 2026 but kept hidden by the leadership of the red and green chambers has indicted the Executive Director of Midstream and Downstream Gas Infrastructure (MDGIF), Oluwole Adama of not helping the government to raise funds but caused it to lose billions of dollars.
One of such is the findings that revealed how Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported actual 2024 gas-flare-penalty revenue of N391,264,227,593.46; after a 4% collection cost.
The net amount due to MDGIF was N375,613,658,489.31 but only N337,003,553,818.41 was collected and accounted for by Oluwole Adama, leading to an under-collection of N38,610,104,671.31.
This action by Adama breached the PIA 2021 ss.52(7)(d) and (8). Investigation by SecretsReporters confirmed that the risk effect of such grave financial act is shortage of funds for environmental remediation; civil-crisis risk from non-remediation.
When queried on why such was carried out, MDGIF Executive Director explained that NUPRC remits gross revenue to the Federation Account, and OAGF nets off the 4% collection cost post-FAAC before transferring the balance to MDGIF, and its own reconciliation put the true variance with NUPRC’s reported figure at just 43 kobo (a rounding matter to be reconciled with OAGF).
Despite the explanation, the Federal Government explicitly disputed the correctness of Adama’s own reconciliation calculation and directed that he should account for N38,610,104,671.31, recover it from NUPRC and remit it to the MDGIF, while sanctions under paragraph 3112(i) of the FR (2009) should apply to him.
When SecretsReporters contacted a member of the NMDPRA National Assembly committee if they are aware of the various infractions committed by MDGIF management, he noted that they are yet to be given any report but will make efforts to get a copy of it, so that appropriate actions can be taken.
Speaking under anonymity, the long-standing lawmaker said “A colleague forwarded a report by SecretsReporters two days ago to me on how monies were paid for common advisers to me on WhatsApp. I called the Chairman’s attention to it and he assured me that we will look into it. But if you have further facts, you can share with us so that we can study it before we meet”, a request we rejected, as we are still working on the series.
Attempt to reach Oluwole Adama to get his comments on our running series was not successful as they have no website that would have listed phone numbers or E-mail.
Source: Secretsreporter