Chevron, Shell, Total, Seplat and other oil companies are to face the House Committee on Public Account in a week long probe over N9.4 trillion owed to the Federation Account
Chevron Nigeria Ltd, Shell Petroleum Development Company, Total E&P Nigeria, Oando Oil Ltd, Seplat Energy and other oil companies have been summoned to an investigative hearings by the House of Representatives, through its Committee on Public Accounts, to address outstanding debts of N9.4 trillion owed to the Federation Account.
The hearings, which begins today Monday March 3, 2025 to Friday March, are being conducted in line with the committee’s constitutional mandate as stipulated in sections 85, 88, and 89 of the 1999 constitution (as amended), as well as the House of Representatives standing orders.
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A statement by the House Spokesperson, Rep. Akin Rotimi Jr. on Sunday, said the review is sequel to the auditor-general’s annual report on the consolidated financial statement for the year ended December 31, 2021.
He noted that the report revealed that as of the last quarter of 2024, several oil companies owed a combined total of approximately ₦9.4 trillion.
He explained that the debts stem from unpaid royalties, concession rentals, gas flare penalties, Production Sharing Contracts (PSC), Repayment Agreements, and Modified Carry Arrangements.
However, Rep. Rotimi noted that despite the provisions of the Petroleum Industry Act (PIA), which mandates that such debts be settled within 30 days, many of these liabilities have remained unsettled since 2021.
To ensure compliance and accountability, the committee has summoned 49 oil companies to appear before it at the National Assembly Complex in Abuja over five days, from March 3 to March 7, 2025. Each company is expected to be represented by its Chief Executive Officer (CEO) and other knowledgeable officers.
The companies invited and date to appear before the committee are:
Monday, March 3, 2025
- 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
Tuesday, March 4, 2025
- 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
- Dubri Oil Company Limited
Wednesday, March 5, 2025
- 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)
Thursday, March 6, 2025
- 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
Friday, March 7, 2025
- 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)
The Chairman of the Public Accounts Committee, Rep. Bamidele Salam (PDP Osun), emphasized the need for the oil firms to comply, stating: “Oil companies must fulfill their statutory obligations to maintain the integrity and accountability of our nation’s resources. We welcome a collaborative approach with all stakeholders as we work together to address these discrepancies in an effective and efficient manner.”a
The committee warned that failure to honour the invitation as scheduled may lead to further legislative action against defaulting companies.
STAR Check: Nigerians, particularly, constituents of Ede North,South/Egbedero/Ejigbo federal constituency, can keep tabs on the legislative performance of Rep. Salam throughout the 10th House here
