The House of Representatives Public Accounts Committee has launched an investigation into outstanding regulatory debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and several oil companies.
The liabilities under investigation have risen to approximately ₦432.07 billion, according to findings contained in the Auditor-General’s reports.
The Auditor-General’s 2023 Annual Audit Report put the combined debt at ₦392.73 billion. NNPCL was responsible for about ₦162.46 billion, while oil companies operating under major petroleum marketers’ associations owed approximately ₦230.27 billion.
The debts are linked to various regulatory obligations, including balancing allowances, National Transport Average charges, the one per cent Midstream and Downstream Gas Infrastructure Fund, as well as outstanding obligations from petroleum imports, coastal transactions and credit arrangements.
The Auditor-General’s 2024 report later increased the outstanding liabilities to ₦432.07 billion, excluding certain obligations attributed to NNPCL.
Further information submitted by the NMDPRA to the committee indicated that 146 oil companies operating under DAPPMAN, MEMAN and MOMAN owed the authority ₦327.53 billion as of 2025.
The committee expressed concern that some of the debts had remained unpaid for several years, with certain liabilities dating back to 2017. Lawmakers said this raised questions about the effectiveness of the mechanisms used by the regulatory authority to assess, collect and recover government revenue.
The committee’s Chairman, Bamidele Salam, said the investigation was aimed at determining the facts surrounding the outstanding debts and ensuring that all government revenue owed by the affected companies was properly accounted for and recovered.
Salam warned companies and institutions summoned by the committee to appear with the appropriate representatives and relevant documents.
He said the investigation was not intended to witch-hunt any company but was part of the National Assembly’s constitutional responsibility to protect public funds.
The committee is expected to examine how the debts were assessed, the periods covered, payments already made, outstanding balances and the steps taken by the NMDPRA to recover the money.
It will also investigate why some liabilities accumulated over several years remained unpaid and whether adequate enforcement measures were taken against defaulting companies.
The probe comes amid increased scrutiny of revenue collection and remittance in Nigeria’s petroleum sector following the implementation of the Petroleum Industry Act, which introduced major reforms to the industry’s regulatory framework.
The NMDPRA, established under the Petroleum Industry Act, is responsible for regulating Nigeria’s midstream and downstream petroleum sectors, including petroleum processing, transportation, distribution, domestic gas operations and related infrastructure.
The committee said its investigation was part of its constitutional oversight duties and was not targeted at any particular company or institution.
Lawmakers said the affected companies and the regulatory authority would be required to provide documents showing how the debts arose, how much had been recovered and the amount still outstanding.
Tags
National News