The House of Representatives has summoned 48 oil companies over their alleged failure to remit approximately N9.4 trillion in outstanding debts to the federation account.
These debts, related to unpaid royalties, concession rentals, gas flare penalties, and obligations from production sharing contracts, have remained unresolved despite being mandated for settlement under the Petroleum Industry Act (PIA).
In a statement released on Sunday, Akin Rotimi, the spokesperson for the house, explained that the debts were uncovered during a review of the Auditor-General’s Annual Report on the Consolidated Financial Statement for the year ending December 31, 2021. Further investigations revealed that the outstanding debts had not been settled as of the last quarter of 2024, despite the PIA requiring payment within 30 days.
The House Committee on Public Accounts, chaired by Bamidele Salam, issued the summons following a review of the Auditor-General’s report. Investigations indicated that the total sum owed by the oil companies covers unpaid royalties, concession rentals, gas flare penalties, and obligations from production sharing contracts, repayment agreements, and modified carry arrangements.
The House emphasized the importance of ensuring oil companies fulfill their statutory obligations to safeguard the nation’s resources and maintain accountability. Salam reiterated the need for a collaborative approach to address these discrepancies.
The investigative hearings are scheduled to take place from March 3 to March 7 at the National Assembly complex in Abuja.
Companies Summoned to Appear Before the Committee:
On March 3, the companies expected to appear include:
- Addax Petroleum Exploration Nigeria Ltd
- AITEO Group
- All Grace Energy
- Amalgamated Oil Company Nigeria Limited
- Amni International Petroleum Development Company Limited
- Belemaoil Producing Ltd
- Bilton Energy Limited
- Britannia-U
- Waltersmith Petroman Limited
On March 4, the following companies are expected:
- Chevron Nig Ltd (OML 90, 95, 49)
- Chorus Energy
- Conoil Plc
- Continental Oil & Gas Company Ltd.
- Dubri Oil Company Limited
- Enageed Resources Limited
- Shell Nigeria Exploration and Production Company
- Energia Limited
- Eroton Exploration & Production Company Limited
On March 5, the companies to appear include:
- Esso E & P. Ltd (Usan, Erha)
- First E & P. Ltd
- Frontier Oil Limited
- General Hydrocarbons Limited
- Green Energy International Ltd
- Nigeria Agip Expl. Ltd (NAE)
- Panocean Oil Nigeria Limited (OML 147)
- Neconde Energy Limited
- Newcross Exploration and Production Limited
- Newcross Petroleum (OML 152)
On March 6, the following companies are scheduled:
- Network Exploration & Production Limited
- Total E and P Nigeria (OML 100, 102, 52 & 99)
- Niger Delta Petroleum
- Nigeria Petroleum Development Company (NPDC) (OML 60, 61 & 63)
- Lekoil Oil and Gas Investments Limited
- Midwestern Oil and Gas Limited
- Millenium Oil and Gas Company Limited
- Seplat Energy (OML 4, 38 & 41)
- Oriental Energy Resources Limited
On March 7, the companies expected to appear are:
- Oando Oil Ltd (OML 60, 61 & 62)
- Heirs Holdings
- Pillar Oil Limited
- Platform Petroleum Limited
- Shell Petroleum Development Company (OML 27)
- Universal Energy Limited/Sinpec
- Shoreline Natural Resources
- Star Deep Water Petroleum Limited
- Sahara Field Production Limited
- Mobil Producing Nig. Unlimited (OML 67 & 70)
Each company is required to send their chief executive officer or a representative well-versed in the issues under investigation. The House warned that failure to appear would result in further actions against the defaulting companies.
This summons is part of the House’s commitment to transparency and accountability in managing the nation’s resources. This investigation follows earlier efforts by the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Economic and Financial Crimes Commission (EFCC) to recover billions owed by oil and gas companies to the federal government.
