The House of Representatives Public Accounts Committee has commenced an investigation into ₦432.07 billion in outstanding regulatory debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and oil companies.
The probe followed findings in the Auditor-General’s reports on unpaid petroleum-related obligations.
The 2023 audit report put the combined debt at ₦392.73 billion, with NNPCL owing ₦162.46 billion and oil companies owing ₦230.27 billion.
Further submissions by the NMDPRA showed that 146 oil companies owed the authority ₦327.53 billion as of 2025.
Chairman of the committee, Bamidele Salam, said the investigation would establish how the debts accumulated and ensure that all revenue due to the government is properly accounted for and recovered.
The committee is expected to examine the basis for the debts, payments already made, outstanding balances and steps taken by the NMDPRA to recover the funds.
Salam urged all companies summoned by the committee to appear with relevant representatives and documents, stressing that the probe was aimed at protecting public revenue and ensuring accountability.
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