The House of Representatives’ Public Accounts Committee has recovered an additional ₦11.49 billion from oil and gas companies owing the Federal Government, raising total recoveries to ₦61.5 billion. Chairman Bamidele Salam stated the effort is based on findings from the Auditor-General and the Nigerian Upstream Petroleum Regulatory Commission.
Companies involved include Platform Petroleum, Midwestern Oil and Gas, Seplat Energies, Aradel Holdings, Network Exploration & Production, and Shoreline Resources.The Public Accounts Committee of the House of Representatives expressed concern over the non-compliance of several oil and gas companies that owe the Federal Government over $384 million and ₦325.7 million.
Despite repeated invitations, firms like Neconde Energy, Heirs Holdings, AITEO, and others have failed to appear. Committee Chair Bamidele Salam warned that such evasion will not be tolerated, stressing that these companies must be held accountable for their financial obligations to the Nigerian people.
The Public Accounts Committee warned that oil and gas companies failing to meet their obligations could face the revocation of their licenses. Committee Chair Bamidele Salam emphasized that no company is above the law and that withheld funds are crucial for Nigeria’s growth. He urged all companies operating in Nigeria to promptly settle their financial obligations.
