Abuja – Nigeria’s House of Representatives has issued a three-day ultimatum to several oil companies that failed to appear for an investigative hearing on a staggering 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 honored the invitation, though its representatives were asked to return on Tuesday due to the late submission of required documents.
The ad hoc committee conducting the probe disclosed this after the affected firms ignored its earlier invitation on Monday. The investigation stems from a report by the Auditor General of the Federation (OAuGF), which detailed unpaid royalties, concession rentals, gas flare penalties, and other financial obligations linked to production-sharing contracts, repayment agreements, and modified carry arrangements.
The lawmakers had initially invited nine oil companies, including 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 committee.
The companies are expected to present their cases before the House between March 3 and March 7, 2025.
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