The House of Representatives has commenced an investigation into more than ₦432 billion in outstanding obligations owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by oil companies and the Nigerian National Petroleum Company Limited (NNPCL).
Reps Begin Probe Into Outstanding Debt
The investigation is being led by the House Committee on Public Accounts, chaired by Bamidele Salam.
The probe follows findings contained in the Auditor-General’s reports on unpaid regulatory and petroleum-related obligations.
According to the 2023 audit report, NNPCL and oil companies owed NMDPRA a combined ₦392.7 billion. The figure later rose to ₦432.07 billion in the 2024 report, excluding NNPCL’s outstanding obligations.
Oil Companies Account for Major Portion
Submissions from NMDPRA showed that 146 oil companies operating under DAPPMAN, MOMAN and MEMAN owed the authority about ₦327.5 billion as of 2025.
The outstanding liabilities reportedly cover the period from 2017 to 2023 and include obligations linked to the National Transport Average, bridging allowance and other legacy debts.
Reps Demand Accountability
Salam said the committee would examine the records surrounding the debt, including the amounts owed, payments made and steps taken by regulators to recover the outstanding funds.
He said the probe was not intended to target any company, but to establish the facts and protect government revenue.
“We are not here to witch-hunt anybody; our responsibility is to establish the facts, protect public revenue and ensure that every naira due to government is properly accounted for.”
Committee Warns Summoned Companies
The committee chairman urged companies and institutions invited to the investigation to honour parliamentary summonses and appear with relevant documents.
He said the investigation would also assess why the liabilities have remained outstanding and whether regulatory authorities have taken sufficient steps to recover the funds.
