Nigeria’s House of Representatives, through its Committee on Public Accounts, is commencing investigative hearings aimed at addressing 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)