The House of Representatives Public Accounts Committee has opened an investigation into 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 liabilities under review total ₦432.07 billion.
The probe followed findings in the Auditor-General’s annual audit reports on unpaid petroleum-related obligations accruing to the regulatory authority.
According to the Auditor-General’s 2023 report, the combined indebtedness of NNPCL and oil companies stood at ₦392.73 billion. NNPCL accounted for ₦162.46 billion, while oil companies under DAPPMAN, MOMAN and MEMAN owed ₦230.27 billion.
The liabilities cover Balancing Allowance, National Transport Average, the one per cent Midstream and Downstream Gas Infrastructure Fund, and legacy obligations from importation, coastal and credit transactions.
The 2024 Auditor-General’s report later put outstanding indebtedness at ₦432.07 billion, excluding liabilities attributed to NNPCL.
Further submissions by NMDPRA to the committee showed that 146 oil companies operating under DAPPMAN, MEMAN and MOMAN owed the authority ₦327.53 billion as of 2025.
The committee said some of the debts date back to 2017, raising concerns over the effectiveness of NMDPRA’s mechanisms for assessment, collection and recovery.
Chairman of the committee, Bamidele Salam, said in a statement on Wednesday that the probe seeks to establish the facts and ensure all government revenue due from the entities is accounted for and recovered.
