The Nigerian House of Representatives has issued a three-day ultimatum to oil companies that failed to appear for an investigative hearing into 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 honored the invitation, though its representatives were asked to return on Tuesday due to the late submission of documents.
The ad hoc committee conducting the investigation disclosed this after the companies failed to attend Monday’s hearing. The probe stems from a report by the Auditor General of the Federation (OAuGF), which detailed unpaid royalties, concession rentals, gas flare penalties, and other outstanding obligations arising from production-sharing contracts and repayment agreements.
Lawmakers have mandated that the oil firms appear before the House from March 3 to March 7, 2025, or face further legislative action.
