The House of Representatives on Monday set up Technical Sub-Committees to investigate the debt status of the Nigerian National Petroleum Company Limited (NNPCL) and other oil and gas entities to the Federation Account.
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The inquiry, led by Representative Bamidele Salam, follows issues raised in the Auditor-General’s 2021 report on the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
The report highlighted significant unpaid royalties and unjustified deductions by NNPC, with outstanding amounts of $253.9 million and over N48 billion among others.
NUPRC Chief Executive Engineer Gbenga Komolafe noted that while $224.3 million had been paid by NNPC, $29.6 million remains outstanding.
He emphasized that the NUPRC is implementing a revenue collection strategy but faces challenges due to industry volatility and Nigeria’s dependence on oil revenue.
In the investigative hearing, lawmakers requested documentary proof of payments made post-2021 and resolved to report findings in two weeks.
Committee Chairman Hon. Salam assured all parties of a fair and transparent process, stating that the sub-committees, led by Deputy Chairman Hon. Jeremiah Umaru and Hon. Olusola Fatoba, will provide ample opportunity for defense.
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