Public Accounts Committee Demands Records as Unpaid Regulatory Liabilities Rise
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 oil companies and the Nigerian National Petroleum Company Limited (NNPCL).
The liabilities have risen to N432 billion, according to findings contained in the Auditor-General’s annual audit reports.
The Auditor-General’s 2023 Annual Audit Report showed that NNPCL and oil companies operating under DAPPMAN, MOMAN and MEMAN owed NMDPRA more than N392 billion.
The debts arose from obligations including Balancing Allowance, National Transport Average, the 1% Midstream and Downstream Gas Infrastructure Fund, as well as legacy debts from imports, coastal and credit transactions.
The 2023 figures showed that NNPCL owed more than N162 billion, while oil companies owed about N230 billion.
The Auditor-General’s 2024 report put the outstanding debt at N432 billion, excluding NNPCL’s indebtedness.
Submissions by NMDPRA to the committee further showed that 146 oil companies under DAPPMAN, MEMAN and MOMAN owed the authority N327 billion as of 2025, covering obligations from 2017 to 2023.
PAC Chairman, Representative Bamidele Salam, said the committee would scrutinise the records to establish the basis of the debts, payments made, outstanding amounts and recovery efforts by the regulatory authorities.
He urged summoned companies and institutions to honour parliamentary invitations and provide 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,” Salam said.
The committee said the investigation would strengthen accountability in public revenue management and ensure that statutory obligations owed to government agencies do not continue to accumulate without appropriate recovery measures.