The Nigerian House of Representatives’ ad-hoc committee on the recovery of outstanding debts owed to the federal government by oil and gas firms, has invited the Nigerian National Petroleum Company (NNPC) Limited, the Niger Delta Development Commission (NDDC), the Federal Inland Revenue Service (FIRS), the Upstream Regulatory Commission (URC) and the Midstream and Downstream Petroleum Regulatory Authority (MDPRA) to appear before the House.
The invitation is not unconnected with the ongoing investigation over the N2.6trillion allegedly owed by oil companies in Nigeria.
Clerk of the House committee, Mr. Eric Makwe, who made this known in a statement on Monday in Abuja stated that the invitation is sequel to the motion at the House plenary on November 30, 2021.
The motion according to Mr. Makwe cited a 2020 report by the National Extractive Industries Transparency Initiatives (NEITI) which revealed that 77 oil and gas companies in Nigeria were owing the Nigerian government over N2.6 trillion.
The clerk also noted that the House directed NEITI, the National Oil Spill Detection Agency, and the FIRS to provide necessary data that was needed in the investigation that would help to facilitate recovery of the debts.
“The probe is in respect of outstanding liabilities owed by oil and gas which include payments of royalties, levies, rents, concessions, rentals, and penalties,” Mr. Makwe stated.
Other areas of focus for the investigation according to the statement are taxes, including petroleum profit tax, company income tax, education tax, Value Added Tax, withholding tax, among others.
The clerk further stated that the head of the 18-member of the House ad-hoc committee investigating the debt, Rep Nkeiruka Onyejeocha, had assured that the committee would thoroughly investigate all issues raised in the NEITI report.
According to Makwe, lawmakers’ major concern was on the current poor revenue structure and rising debt profile which the government was battling.
Meanwhile, Orient Energy Review learnt that the committee had already begun the investigation and was already making positive findings.
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