By Ade Iyamoye
The House of Representatives Committee on Public Accounts has launched an investigation into oil companies allegedly owing the Federal Government a staggering N9.4 trillion in unpaid royalties, concession rentals, and gas flare penalties.
The probe follows findings from the Auditor-General’s report on Nigeria’s Consolidated Financial Statement for 2021, revealing that despite the Petroleum Industry Act (PIA) mandating payment within 30 days, several oil firms failed to meet their obligations.
Committee Chairman, Bamidele Salam, has summoned 38 defaulting oil companies, including Addax Petroleum, Shell, Chevron, Total, Seplat, and AITEO Group, to account for the infractions.
House spokesperson, Akin Rotimi Jr., warned that failure to appear could lead to severe consequences.
The investigation underscores lawmakers’ commitment to enforcing accountability in Nigeria’s oil sector and ensuring that government revenues are duly remitted.
