Oil companies that did not show up for the House of Representatives of Nigeria’s investigation into a N9.4 trillion debt owed to the Federal Government were given a three-day ultimatum.
Among the oil corporations are Britain U, AITEO Group, Addax Petroleum Exploration Nigeria Ltd, Waltersmith Petroman Limited, and two more.
This was revealed by the investigation’s ad hoc committee on Monday, following the businesses’ rejection of its previous invitation.
The committee claims that only Belema Oil Producing Ltd. accepted the invitation out of the nine oil companies that were called.
However, due to the delayed delivery of their documents to the committee, the delegation from Belema Oil Producing Ltd., headed by Ahmad Sambo, Managing Director, was instructed to return on Tuesday.
The Nigerian lawmakers invited Addax Petroleum Exploration Nigeria Ltd., 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 them on Monday, as you may remember from a notice they sent out on Sunday.
The Auditor General of the Federation’s (OAuGF) report to the Public Accounts Committee (PAC) served as the foundation for the inquiry.
According to the report, unpaid royalties, concession rentals, gas flare penalties, and other debts resulting from production-sharing agreements, repayment agreements, and modified carry arrangements made up the amount owed to the Nigerian government.
According to reports, the oil firms who were named in the debt are scheduled to testify before the House from March 3rd to March 7th, 2025, Monday through Friday.
