Muhammad Musa Fika, PhD

Economist and @NileUni Alumnus.

[Muhammad Musa Fika, PhD @Dranze_]

People would not like to associate with you when you find yourself in difficult situation. Hold tight those who still value and help you no matter how life turn out.

[Muhammad Musa Fika, PhD @Dranze_]

@Muhammad_Bell0 @WorldBankGroup Congrats

[Mele Kyari, OFR @MKKyari]

MY APPEARANCE BEFORE THE SENATE COMMITTEE ON PUBLIC ACCOUNTS

Today, I appeared before the Senate Committee on Public Accounts to address issues arising from the audit of the Nigerian National Petroleum Company Limited (NNPC Ltd) and provide clarifications on matters relating to my tenure as Group Managing Director of NNPC and subsequently Group Chief Executive Officer of NNPC Limited.

I appreciate the opportunity provided by the Senate to present my explanations, respond to concerns raised in the audit report and place certain issues in their proper context.

At the heart of my presentation was the need to correct certain misconceptions and misinformation surrounding the financial records of the company, particularly the allegation that N210 trillion was lost under my leadership.

I stated unequivocally before the committee that no such funds were lost. The figure arose from accounting entries and bookkeeping descriptions, not the disappearance or loss of money. I provided explanations on the relevant entries and reaffirmed my readiness to offer any additional clarification the committee may require.

I also addressed the N2.99 billion expenditure relating to the incorporation of NNPC Limited. I explained that the amount represented statutory payments to the Federal Inland Revenue Service and the Corporate Affairs Commission in connection with the company's incorporation. The issue, as I clarified, relates to the accounting treatment and responsibility for the payment under the provisions of the Petroleum Industry Act, rather than any improper expenditure.

Beyond these specific issues, I considered it important to reflect on the institutional reforms undertaken during my tenure.

When I assumed leadership of NNPC in 2019, one of my foremost priorities was to establish a stronger framework for transparency, accountability and institutional responsibility. I firmly believed that a public institution entrusted with the nation's resources must be accountable to the people, who are its ultimate stakeholders.

In pursuit of this objective, we took the unprecedented decision to publish the company's financial statements, making its financial records publicly accessible for the first time in its 43-year history.

We understood that transparency would expose the company to greater scrutiny, criticism and public debate. However, we believed that public scrutiny was essential to building a stronger institution. Indeed, the disclosures generated constructive discussions, recommendations and internal reforms that helped improve operational efficiency, strengthen accountability and drive cost-saving measures.

These efforts contributed to a significant improvement in the company's financial performance, moving from a loss position to sustained profitability. I am particularly pleased that the accountability structures established during our tenure have been sustained by the current management, with encouraging financial results.

The reforms also took place within the broader transformation of Nigeria's petroleum industry following the enactment of the Petroleum Industry Act and further galvanized by Mr President’s policy interventions. We worked to implement the policy decisions of the Federal Government and the National Assembly, including the transition towards a market-based petroleum products regime.

During this period, we also witnessed increased investment in the oil and gas sector, the advancement of strategic gas infrastructure projects and the deepening of the downstream petroleum industry. These developments are important to the country's energy security, economic growth and long-term investment prospects.

I remain proud of the opportunity to have served NNPC and contributed to the transformation of an institution that is central to Nigeria's economic development.

[Professor Ahmed Adamu @AhmedAdamu]

Achieving more with less: The magic behind @nnpclimited’s higher profit despite declining revenue.

[Gimba Kakanda @gimbakakanda]

One thing I wish to leave behind for my kids is a habit of reading and a study full of books. That’s what my father did. I grew up in a house with a room full of books, and I became obsessed with them, stealing books to read. When he was ill and mostly away, I spent my days in his study, reading all types of books. At some point, I began to imitate what I read by writing down my own thoughts and ideas.

Even though I grew up with my native language as the primary language in our household, the books were my escape, and I never had to struggle with basic grammar. I have never struggled with an English language test or exam even as a science student. By the time I was reading Brighter Grammar, I had already absorbed the rules from the books I had read.

So, reading is your surest bet. The AI age may seem to have rendered these skills obsolete, but in-person exams, whether IELTS or exams in any subject taught in English, will always be there to expose you.

[Pat Utomi @UtomiPat]

You may not be interested in politics, but politics will always be interested in you.

[boyjim @boyjimgram]

We really are poor people, and it’s not even about money

We are poor in conscience. Poor in morals. Poor in honor.

The country cannot change if the masses don’t change. Period!

[Muhammad Musa Fika, PhD @Dranze_]

@Dot_E_Fresh Human laws are not subject to amendments. This Popinjay of a minister should know better.

[Muhammad Musa Fika, PhD @Dranze_]

@kafaraty @shariffshattima 😂

[zāād al-Ma’aād @Alghurabaaaaaa]

🚫 Don't waste your youth and let it SLIP away ..

[Pat Utomi @UtomiPat]

Politicians who believe you should be frying and selling akara and kwuli-kwuli as a university graduate are enemies of your progress. They do not want to see you grow.

[Muhammad Musa Fika, PhD @Dranze_]

@NigeriaStories Oh, so you know.

[Muhammad Musa Fika, PhD @Dranze_]

Just noise, no substance, no clear development roadmap and manifesto. Appear, make some vague statements, criticise your opponent, and spice it up with Rarara songs.

[Channels Television @channelstv]

‘There is no firm that can invest with lots of unpredictability... stabilising the macroeconomy and bringing inflation under control is crucial,’ says Stefan Dercon, Professor of Economic Policy at the University of Oxford, during the opening ceremony of the Nigeria Economic Summit in Abuja.

#CTVTweets

[Muhammad Musa Fika, PhD @Dranze_]

@Realoilsheikh @OfficialAPCNg @dayoisrael At this time, if you don't have a voter's card as a Nigerian, you are not serious about your life.

[Laura Matsue @lauramatsue]

Stop frying your brain with endless short form content. Read long, complicated, books. Especially novels. Cultivate the ability to think deeply. To focus for long periods. Stare into space and enjoy boredom. Do tasks without any media playing in the background. Resist the urge to reach for your phone every time you feel uncomfortable. Get used to being with uncomfortable emotions instead. Wonder and think about the questions you have instead of asking AI. Become deeply present with everyone around you. Your ability to focus, pay attention, to think deeply, is one of your most valuable assets. Reclaim the immense beauty of experiencing your life directly instead of living it through a screen.

[Abdulbaki Jari @Bahaushee]

Komai na duniya mai wuce wa ne. Wata rana sai labari.

[Muhammad Musa Fika, PhD @Dranze_]

@ABUJAPLUG Do you know you are not normal? someone that cares about your safety you are here mustering energy to sue him..

[Atiku Abubakar @atiku]

YOU ARE DELUSIONAL — ATIKU REPLIES TINUBU

Former Vice President and ADC presidential candidate Atiku Abubakar has described President Bola Tinubu’s claim that the opposition created hunger and poverty as a delusional, shameless attempt to dodge responsibility for the misery his own government has inflicted on Nigerians.

Atiku said a President cannot light the fire of hardship with his own policies, then blame the neighbours for the smoke.

In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku said:

“Mr President, blaming the opposition for hunger is either delusion or a staggering case of political amnesia. The APC governed Nigeria for eight years before you took office. You have added another three and a half years. Nigerians know who has been in power, and hardship did not begin when the opposition started talking about it. Stop insulting their intelligence and answer for your record.

“The hardship your administration has brought upon Nigerians is real. You cannot deny it by blaming others.

“Your decision to commission the unfinished Abuja to Kaduna Expressway from inside a stadium shows how far removed you are from the daily reality of Nigerians. A road cannot be completed with a speech or a ribbon cutting ceremony.

“Which administration removed the petrol subsidy and watched the naira fall from about ₦471 to ₦1,329 to the dollar?

“Which administration has presided over a rise in poverty that led the World Bank to estimate that 63 per cent of Nigerians will be below the national poverty line in 2026? Which administration extended the 2024 budget into 2025 while also operating a separate 2025 budget?

“Which administration recorded ₦7.13 trillion under ‘energy security’ in 2024 and faces questions over ₦11.2 trillion in NNPC pipeline related spending? Nigerians deserve to know who received these sums and what was delivered.

“Which administration must explain the $12.4 billion gap flagged in Nigeria’s external accounts for the first half of 2026? Which administration paid $22.5 million in ‘other charges’ on the Abu Dhabi financing facility?

“Which administration is responsible for the killings, kidnappings and displacement that continue to terrorise communities? These are the questions Nigerians are asking while your government blames the opposition.

“You cannot govern for three years, make life harder, and then blame others for describing the hardship. You asked who created the hunger. Nigerians are asking what you have done to end it.

“The people will judge your government by the lives they are living, not by the excuses you offer at campaign rallies.

“The 2027 presidential election will be a referendum on your record. Nigerians have felt the cost of your leadership in their homes, markets and communities. Their verdict is already clear: they have rejected your administration.”

Signed:
Phrank Shaibu
Director of Strategic Communication
ADC Presidential Campaign Council
24 October 2026

[Muhammad Musa Fika, PhD @Dranze_]

@MasterBolaji 😂😂