Nigeria’s House of Representatives, through its Committee on Public Accounts, is commencing investigative hearings to address significant outstanding debts owed by some oil companies to the Federation Account.
The debts amount to N9.4 trillion.
House of Representatives spokesperson, Akin Rotimi, disclosed this in a statement on Sunday.
The statement noted that the investigative hearing is in compliance with the committee’s constitutional mandate under sections 85, 88, and 89 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), as well as Order XX—Rule 6 of the House of Representatives Standing Orders (eleventh edition).
According to the statement, the debt covers unpaid royalties, concession rentals, and gas flare penalties, in addition to obligations arising from production sharing contracts, repayment agreements, and modified carry arrangements.
Despite the clear provisions of the Petroleum Industry Act — which require such debts to be settled within 30 days —many of these liabilities have remained unsettled since 2021.
The hearing is scheduled to be held from Monday to Friday, March 3rd to 7th, 2025.
“In light of these findings, the Public Accounts Committee hereby invites the oil companies listed below to submit the previously requested documents and appear before the Committee in Meeting Room 446, Fourth Floor, House of Representatives, National Assembly Complex, Abuja at 10:00 am prompt on the dates indicated,” the statement reads.
Recall that the report from the Auditor General of the Federation revealed that in the last quarter of 2024, several oil companies owe a combined total of approximately N9.4 trillion.
Full List:
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
Chevron Nigeria Ltd. (OML 90, 95, 49)
Chorus Energy
Conoil Plc
Continental Oil & Gas Company Ltd.
Dubri Oil Company Limited
Engaged Resources Limited
Shell Nigeria Exploration and Production Company
Energia Limited
Eroton Exploration & Production Company Limited
Dubri Oil Company Limited
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)
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
Millennium Oil and Gas Company Limited
Seplat Energy (OML 4, 38 & 41)
Oriental Energy Resources Limited
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 and
Mobil Producing Nigeria Unlimited (OML 67 & 70)
