Reps Probe ₦432bn Oil Debt, Summon NNPCL, Marketers Over Unpaid Revenue

The House of Representatives Public Accounts Committee (PAC) has commenced an investigation into outstanding debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and oil companies, with the liabilities put at ₦432.07 billion.

The probe followed findings contained in the Auditor-General’s annual audit reports on unpaid regulatory and petroleum-related obligations owed to the Authority.

According to the Auditor-General’s 2023 Annual Audit Report, NNPCL and oil companies operating under the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Major Marketers Association of Nigeria (MOMAN) and Major Energy Marketers Association of Nigeria (MEMAN) were indebted to NMDPRA to the tune of ₦392.73 billion.

The debt comprised obligations relating to Balancing Allowance, National Transport Average, the one per cent Midstream and Downstream Gas Infrastructure Fund, as well as legacy debts arising from imports, coastal and credit transactions.

A breakdown of the 2023 figures showed that NNPCL accounted for ₦162.46 billion, while the affected oil companies owed ₦230.27 billion.

However, the Auditor-General’s 2024 report showed that the outstanding liabilities had risen to ₦432.07 billion, excluding NNPCL’s indebtedness.

Further submissions by NMDPRA to the PAC revealed that 146 oil companies operating under DAPPMAN, MEMAN and MOMAN owed the Authority ₦327.53 billion as of 2025.

The Committee noted that the debts covered obligations accumulated between 2017 and 2023, with a substantial portion remaining unpaid at the time of the review.

Speaking during the investigation, Chairman of the PAC, Rep. Bamidele Salam, said the Committee would ensure that all affected entities account for their obligations and provide relevant records to enable Parliament determine how the debts accumulated.

Salam also warned companies and institutions invited by the Committee against disregarding parliamentary summons.

> “Any company invited by this Committee must respect the people’s Parliament of the Federal Republic of Nigeria by honouring the summons with appropriate representation and all relevant documents. We are not here to witch-hunt anybody; our responsibility is to establish the facts, protect public revenue and ensure that every naira due to government is properly accounted for,” he said.

The lawmaker said the Committee would examine records detailing the basis of the liabilities, the period covered, payments made, outstanding balances and measures taken by NMDPRA to recover the debts.

He explained that the investigation was aimed at strengthening accountability in the management of public revenue and preventing statutory obligations owed to government agencies from accumulating unchecked.

The PAC reaffirmed its commitment to exercising its constitutional oversight powers to ensure that public funds and revenues are properly accounted for, while government agencies take effective steps to recover outstanding liabilities.