Nigeria’s House of Representatives has issued a three-day ultimatum to oil companies that failed to attend an investigative hearing regarding a N9.4 trillion debt owed to the Federal Government.
The companies summoned include Waltersmith Petroman Limited, Addax Petroleum Exploration Nigeria Ltd, AITEO Group, Britannia-U, and two others. However, only Belema Oil Producing Ltd responded to the invitation. Its team, led by Managing Director Ahmad Sambo, was asked to return on Tuesday due to the late submission of relevant documents.
This ultimatum follows an earlier notice from lawmakers, issued on Sunday, summoning several oil firms—Addax Petroleum, AITEO Group, All Grace Energy, Amalgamated Oil Company Nigeria Limited, Amni International Petroleum Development Company Limited, Belema Oil Producing Ltd, Bilton Energy Limited, Britannia-U, and Waltersmith Petroman Limited—to appear before the House on Monday.
The investigation is based on a report from the Auditor General of the Federation (OAuGF) submitted to the Public Accounts Committee (PAC). According to the report, the N9.4 trillion debt stems from unpaid royalties, concession rentals, gas flare penalties, and other financial obligations linked to production-sharing contracts, repayment agreements, and modified carry arrangements.
NEWS BULLETIN reports that the summoned oil companies are expected to appear before the House between Monday, March 3, and Friday, March 7, 2025.
