Expect better economic relief, committee assures Ogoni people
The House of Representatives Public Accounts Committee (PAC) has recovered $19,241,109.35 (N28.7 billion) from two oil companies indebted to the Federation Account.
The panel has also successfully recovered N199.3 million out of an outstanding N6.8 billion, comprising excessive charges levied between March and October 2015 and unremitted Value Added Tax (VAT) on transactions processed via the Remita platform from 2015 to 2022.
Spokesman of the House, Akin Rotimi, who disclosed this in a statement yesterday, said the panel’s investigation, which is based on findings from the 2021 audit report, focused on 45 oil companies collectively owing $1.7 billion in outstanding liabilities to the federation.
According to the statement, Chorus Energy Limited settled its outstanding liability with a payment of $847,623 (N1.2 billion) on March 11, 2025.
Seplat Production Development Limited fully discharged its obligation by remitting $18.39 million (N27.6 billion) between March 10 and March 14, 2025.
Rotimi said the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had been furnished with evidence of these payments for final verification. Additionally, he noted that Shoreline Natural Resources Ltd had made a $30 million payment towards its $100.28 million debt before the investigation commenced and has requested a structured repayment plan for the outstanding balance.
During the committee’s proceedings, a representative of the NUPRC, Balarabe Haruna, reported that following recent reconciliations, Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing) now holds a credit balance of $211,911.09 for crude oil royalty, $33.01 million for gas flare penalties, and $163,046.40 for concession rentals, with no outstanding liabilities.
The panel commended Seplat Energy for its prompt compliance with its financial obligations. The committee reaffirmed its commitment to deploying all constitutionally sanctioned measures to recover outstanding debts from the remaining 38 oil companies under investigation.
The report further highlighted that Amalgamated Oil Company Nigeria Ltd, Seplat Energy, Shell Exploration and Production and Shell Petroleum Development Company have fully settled their obligations and are no longer financially liable.
On recovery from the Remita investigation, the Green Chamber had, in 2024, mandated the committee to investigate revenue leakages and non-remittance of funds by Ministries, Departments, and Agencies (MDAs) through Remita. This directive followed a motion sponsored by Jeremiah Umaru, which was subsequently referred to the committee.
MEANWHILE, the Ogoni Dialogue Committee on oil resumption has assured the Ogoni people to expect better economic relief that will address the long-standing neglect and injustices as it concluded its grassroots consultations with communities in four local council areas in Ogoni, Rivers State.
After its recent inauguration by the Federal Government, the committee embarked on grassroots consultations to get inputs from the people, ensuring their involvement in the planned oil resumption processes in Ogoni land.
Sequel to this, communities across the four local councils (Eleme, Tai, Gokana and Khana) have all participated in the meetings and have submitted their concerns and demands as a memorandum to the committee.
