The House of Representatives Public Accounts Committee has begun an investigation into more than ₦432bn in outstanding debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority by the Nigerian National Petroleum Company Limited and oil companies.
The probe follows findings contained in the Auditor-General’s annual audit reports concerning unpaid petroleum-related obligations owed to the regulatory agency.
The Auditor-General’s 2023 report put the combined debt at ₦392.73bn. Of that amount, NNPCL was responsible for ₦162.46bn, while oil companies operating under DAPPMAN, MOMAN and MEMAN accounted for ₦230.27bn.
The debts were linked to various obligations, including Balancing Allowance, National Transport Average, the one per cent Midstream and Downstream Gas Infrastructure Fund, as well as legacy debts connected to importation, coastal and credit transactions.
The figure later rose. The Auditor-General’s 2024 report put the outstanding liabilities at ₦432.07bn, excluding liabilities attributed to NNPCL.
Further information submitted by the NMDPRA to the committee showed that 146 oil companies under DAPPMAN, MEMAN and MOMAN owed the authority ₦327.53bn as of 2025.
Some of the outstanding debts date back to 2017, prompting lawmakers to question how the liabilities accumulated and why efforts to recover the money had not yielded sufficient results.
Chairman of the committee, Bamidele Salam, said the investigation was not designed to witch-hunt any company but to establish what happened to the money owed to the government.
“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,” Salam said.
He added, “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 said it would examine how the debts were calculated, the period covered, payments already made, outstanding balances and steps taken by the NMDPRA to recover the funds.
Lawmakers will also seek explanations on why some of the liabilities have remained unpaid for years and whether the regulator took enforcement action against companies that defaulted.
The committee said the investigation falls within the National Assembly’s constitutional oversight role and is not targeted at any particular company or institution.
The NMDPRA, established under the Petroleum Industry Act, is responsible for regulating Nigeria’s midstream and downstream petroleum operations, including petroleum product processing, transportation, distribution and domestic gas activities.
The committee said it would require the affected companies and the regulator to provide relevant records to determine how the debts arose, what has been recoveredand what remains outstanding.