The Home of Representatives has summoned 48 oil firms working in Nigeria to look earlier than its Committee on Public Accounts, in a collection of investigative hearings probing a mixed debt of N9.4 trillion.
In a Press Launch issued by the workplace of the Home Spokesperson on Monday, it was disclosed that a number of oil firms owe the federation roughly N9.4 trillion.
Corporations summoned embrace main trade gamers equivalent to Shell Nigeria Exploration and Manufacturing Firm, Chevron Nigeria Ltd, Complete E&P Nigeria, Seplat Power, Oando Oil Ltd, and Mobil Producing Nigeria Limitless, amongst others.
The committee’s probe follows findings within the Auditor-Normal’s Annual Report on the Consolidated Monetary Assertion for the yr ending December 31, 2021.
The debt, which has accrued as of the final quarter of 2024, includes unpaid royalties, concession leases, fuel flare penalties, and obligations from Manufacturing Sharing Contracts, Compensation Agreements, and Modified Carry Preparations.
It was famous that the oil firms violated provisions of the Petroleum Business Act, which mandates that such funds have to be settled inside 30 days. Nevertheless, many of those liabilities have remained excellent for years.
The investigative hearings, scheduled between March 3 and March 7, 2025, require the Chief Government Officers of the affected oil companies to look earlier than the committee on the Nationwide Meeting Complicated in Abuja.
The Chairman of the Public Accounts Committee, Rep. Bamidele Salam, stated the probe is in step with the committee’s constitutional mandate underneath Sections 85, 88, and 89 of the 1999 Structure (as amended) and the Home of Representatives Standing Orders.
“Oil firms should fulfill their statutory obligations to take care of the integrity and accountability of our nation’s assets. We welcome a collaborative strategy with all stakeholders as we work collectively to deal with these discrepancies in an efficient and environment friendly method,” Salam said.
Committee to take motion towards oil firms that fail to look
The committee has warned that it will take actions towards oil firms that fail to look earlier than it on the designated dates.
“This discover supersedes all earlier communications relating to the dates for look. Each firm is required to be represented by its Chief Government Officer, in individual, and every other officer(s) well-versed within the points underneath investigation.
“The Committee cautions that failure to look on the designated date might lead to additional motion being taken towards the defaulting group,” the assertion famous.
As contained within the launch, the next is the checklist of the affected oil firms, and the dates of their hearings:
Monday, March 3, 2025
- Addax Petroleum Exploration Nigeria Ltd
- AITEO Group
- All Grace Power
- Amalgamated Oil Firm Nigeria Restricted
- Amni Worldwide Petroleum Improvement Firm Restricted
- Belemaoil Producing Ltd
- Bilton Power Restricted
- Britannia-U
- Waltersmith Petroman Restricted
Tuesday, March 4, 2025
- Chevron Nig Ltd (OML 90, 95, 49)
- Refrain Power
- Conoil Plc
- Continental Oil & Gasoline Firm Ltd.
- Dubri Oil Firm Restricted
- Enageed Assets Restricted
- Shell Nigeria Exploration and Manufacturing Firm
- Energia Restricted
- Eroton Exploration & Manufacturing Firm Restricted
- Dubri Oil Firm Restricted
Wednesday, March 5, 2025
- Esso E & P. Ltd (Usan, Erha)
- First E & P. Ltd
- Frontier Oil Restricted
- Normal Hydrocarbons Restricted
- Inexperienced Power Worldwide Ltd
- Nigeria Agip Expl. Ltd (NAE)
- Panocean Oil Nigeria Restricted (OML 147)
- Neconde Power Restricted
- Newcross Exploration and Manufacturing Restricted
- Newcross Petroleum (OML 152)
Thursday, March 6, 2025
- Community Exploration & Manufacturing Restricted
- Complete E and P Nigeria (OML 100, 102, 52 & 99)
- Niger Delta Petroleum
- Nigeria Petroleum Improvement Firm (NPDC) (OML 60, 61 & 63)
- Lekoil Oil and Gasoline Investments Restricted
- Midwestern Oil and Gasoline Restricted
- Millenium Oil and Gasoline Firm Restricted
- Seplat Power (OML 4, 38 & 41)
- Oriental Power Assets Restricted
Friday, March 7, 2025
- Oando Oil Ltd (OML 60, 61 & 62)
- Heirs Holdings
- Pillar Oil Restricted
- Platform Petroleum Restricted
- Shell Petroleum Improvement Firm (OML 27)
- Common Power Restricted/Sinpec
- Shoreline Pure Assets
- Star Deep Water Petroleum Restricted
- Sahara Discipline Manufacturing Restricted
- Mobil Producing Nig. Limitless (OML 67 & 70)
The Home spokesperson famous that the affected firms have been duly notified, including that the Home made the discover public in its dedication to transparency and accountability.
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