By Aaron Ossai
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 N432.07 billion.
The probe follows findings contained in the Auditor-General’s annual audit reports on unpaid regulatory and petroleum-related obligations involving NNPCL and operators in the downstream sector.
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) owed NMDPRA a combined N392.73 billion.
The report said the liabilities arose from Balancing Allowance, National Transport Average, the 1 per cent Midstream and Downstream Gas Infrastructure Fund, as well as legacy debts linked to import, coastal and credit transactions.
A breakdown of the 2023 figures showed that NNPCL accounted for N162.46 billion, while the oil companies owed N230.27 billion, bringing the total outstanding debt to N392.73 billion.
However, the Auditor-General’s 2024 report showed that the outstanding liabilities had risen to N432.07 billion, excluding the indebtedness attributed to NNPCL.
Further submissions by NMDPRA to the Public Accounts Committee 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 and had largely remained unpaid as of the time of its review.
Chairman of the Committee, Hon. Bamidele Salam, said the panel would ensure that all affected companies and institutions account for their obligations and provide the necessary records to enable Parliament to determine the circumstances surrounding the outstanding debts.
Salam also urged entities summoned by the Committee to respect the authority of the National Assembly by responding to invitations with appropriate representatives and relevant documents.
He said, “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.”
The Committee chairman said the investigation would examine relevant records, including the basis of the outstanding liabilities, the periods covered, payments made, amounts still unpaid and measures taken by regulatory authorities to recover the debts.
He added that the exercise was aimed at strengthening accountability in the management of public revenue and ensuring that statutory obligations owed to government agencies did not continue to accumulate without effective recovery measures.
The PAC reaffirmed its commitment to exercising its constitutional oversight mandate by ensuring that public funds are properly accounted for and that government agencies take appropriate steps to recover outstanding liabilities.
