N9.4tr Debt: Reps Summon Shell, Oando, Seplat, Total, 44 Other Oil Companies

The House of Representatives has summoned 48 oil companies operating in Nigeria to appear before its Committee on Public Accounts, in a series of investigative hearings probing a combined debt of N9.4 trillion.

In a statement issued by the office of the House Spokesperson on Monday, it was disclosed that several oil companies owe the federation approximately N9.4 trillion.

Companies summoned include major industry players such as Shell Nigeria Exploration and Production Company, Chevron Nigeria Ltd, Total E&P Nigeria, Seplat Energy, Oando Oil Ltd, and Mobil Producing Nigeria Unlimited, among others.

The committee’s probe follows findings in the Auditor-General’s Annual Report on the Consolidated Financial Statement for the year ending December 31, 2021.

The debt, which has accumulated as of the last quarter of 2024, comprises unpaid royalties, concession rentals, gas flare penalties, and obligations from Production Sharing Contracts, Repayment Agreements, and Modified Carry Arrangements.

It was noted that the oil companies violated provisions of the Petroleum Industry Act, which mandates that such payments must be settled within 30 days. However, many of these liabilities have remained outstanding for years.

The investigative hearings, scheduled between March 3 and March 7, 2025, require the Chief Executive Officers of the affected oil firms to appear before the committee at the National Assembly Complex in Abuja.

The Chairman of the Public Accounts Committee, Rep. Bamidele Salam, said the probe is in line with the committee’s constitutional mandate under Sections 85, 88, and 89 of the 1999 Constitution (as amended) and the House of Representatives Standing Orders.

“Oil companies must fulfill their statutory obligations to maintain the integrity and accountability of our nation’s resources. We welcome a collaborative approach with all stakeholders as we work together to address these discrepancies in an effective and efficient manner,” Salam stated.

The committee has warned that it would take actions against oil companies that fail to appear before it on the designated dates.

“This notice supersedes all previous communications regarding the dates for appearance. Every company is required to be represented by its Chief Executive Officer, in person, and any other officer(s) well-versed in the issues under investigation.

“The Committee cautions that failure to appear on the designated date may result in further action being taken against the defaulting organization,” the statement noted.

As contained in the release, the following is the list of the affected oil companies, and the dates of their hearings:

 Monday, March 3, 2025

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

 

Tuesday, March 4, 2025

Chevron Nig Ltd (OML 90, 95, 49)

Chorus Energy

Conoil Plc

Continental Oil & Gas Company Ltd.

Dubri Oil Company Limited

Enageed Resources Limited

Shell Nigeria Exploration and Production Company

Energia Limited

Eroton Exploration & Production Company Limited

Dubri Oil Company Limited

 

Wednesday, March 5, 2025

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)

 

Thursday, March 6, 2025

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

Millenium Oil and Gas Company Limited

Seplat Energy (OML 4, 38 & 41)

Oriental Energy Resources Limited

 

Friday, March 7, 2025

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

Mobil Producing Nig. Unlimited (OML 67 & 70)

The House spokesperson noted that the affected companies have been duly notified, adding that the House made the notice public in its commitment to transparency and accountability.