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Reps Secure $37.4m Oil Debt Repayment as Probe Uncovers $1.7bn in Unpaid Royalties

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The House of Representatives has announced that seven oil companies have pledged to settle a cumulative debt of $37.4 million owed to the Federation Account before August 2025.

Akin Rotimi, the spokesperson for the House, disclosed this in a statement on Sunday, highlighting the commitment as part of an ongoing investigation by the Public Accounts Committee (PAC).

“This commitment follows the Committee’s scrutiny of financial records from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which flagged significant lapses in royalty payments and reconciliation processes across the sector,” Rotimi stated.

The pledged repayment is a fraction of the ₦9 trillion outstanding liability flagged by the Auditor General for the Federation in the 2021 report submitted to the National Assembly. The debts, some of which have accrued over four years, underscore persistent revenue leakages in Nigeria’s oil and gas industry.

$1.7 Billion Still Unpaid by 45 Companies

Beyond the seven firms that have agreed to settle their debts, the Committee’s probe has uncovered an additional $1.7 billion (₦2.5 trillion) in unpaid royalty payments by 45 oil and gas companies as of December 31, 2024.

The seven companies that acknowledged their outstanding liabilities and pledged to clear them before August 2025 are:

Belema Oil

Panocean Oil Nigeria Ltd

Newcross Exploration & Production Ltd

Dubri Oil Company Ltd

Chorus Energy

Amni International

Network Exploration

Nine Companies Contest $429.2 Million Debt Figures

Meanwhile, nine companies with a combined outstanding balance of $429.2 million have contested the figures provided by the NUPRC, requesting a reconciliation process to verify their actual liabilities. These companies include:

Aradel/Niger Delta

Chevron

STAR DEEP

Shore Line

Seplat Producing Unlimited

Esso Erha

Esso Usan

Eroton Exploration

Seplat Energy

The committee has mandated that the reconciliation process be concluded within two weeks, after which companies must settle their confirmed debts without delay.

28 Companies Fail to Honour House Invitation

In a more concerning development, 28 oil companies collectively owing $1,230,708,293.14 have failed to appear before the Committee or respond to public notices. The House has granted them a final grace period of one week to submit relevant documentation and appear before the PAC.

The affected companies include:

Addax Petroleum Exploration Nigeria Ltd

AITEO Group

All Grace Energy

Amalgamated Oil Company Nigeria Limited

Total E&P Nigeria (OML 100, 102, 52 & 99)

Bilton Energy Limited

Enageed Resources Limited

Waltersmith Petroman Limited

Conoil Plc

Continental Oil & Gas Company Ltd

Energia Limited

First E&P Ltd

Frontier Oil Limited

General Hydrocarbons Limited

Green Energy International Ltd

Nigeria Agip Exploration Ltd (NAE)

Neconde Energy Limited

Nigeria Petroleum Development Company (NPDC) – OML 60, 61 & 63

Lekoil Oil and Gas Investments Limited

Midwestern Oil and Gas Limited

Millennium Oil and Gas Company Limited

Oando Oil Ltd (OML 60, 61 & 62)

Heirs Holding

Pillar Oil Limited

Platform Petroleum Limited

Universal Energy Limited / Sinpec

Sahara Field Production Limited

Oriental Energy Resources Limited

Failure to comply within the stipulated timeframe, the House warned, would attract firm legislative and regulatory sanctions to enforce accountability and compliance.

Two Companies Found Compliant

On a positive note, only two companies—Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration & Production—were found to have fully met their royalty obligations.

The House of Representatives reaffirmed its commitment to enforcing financial discipline in the oil and gas sector to plug revenue leakages and ensure all outstanding debts to the Federation Account are settled.

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Ago-Iwoye Comes Alive as Community Celebrates Cultural Heritage

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Traditional rites, medical outreach, sporting events and youth competitions feature in weeklong celebration

AGO-IWOYE came alive with cultural displays, sporting activities and community development initiatives as indigenes and residents gathered for the 2026 Ago-Iwoye Day celebration.

The weeklong programme, which began on Monday, October 5, brought together indigenes from across Nigeria and the diaspora to celebrate the town’s cultural heritage and promote unity and grassroots development.

The celebration opened with the traditional Woro Plucking Programme at Ojuade Olooto at 7am on Monday. This was followed by intellectual and strategy games at the Ebumawe Palace, where participants competed in chess, draughts, Scrabble and Ayo Olopon.

Health and sports featured prominently on Tuesday, October 6, as residents took part in a medical check-up and eye screening exercise at the Ago-Iwoye City Hall.

At the Ago-Iwoye Stadium, sports enthusiasts watched the table tennis finals and the final of the Quarters Football Competition.

 

The activities continued on Wednesday, October 7, with the finals of the secondary school football competition for male and female categories at the stadium.

Students returned to the spotlight on Thursday, October 8, for a quiz and debate competition at the City Hall. The academic activities were complemented by a public lecture on sustainable community development and youth empowerment.

On Friday, October 9, the Ebumawe of Ago-Iwoye led a health walk from the Omoedumare Roundabout at 7am, drawing residents into another activity designed to promote healthy living and community participation.

The day ended with Ebiripo Night at the Imososi Primary School Field, where music, dance and folklore accompanied celebrations around the town’s popular local delicacy.

The grand finale is scheduled for today, Saturday, October 10, at the Imososi Primary School Field, with traditional performances, civic honours and fundraising activities on the programme.

A thanksgiving service at the Methodist Cathedral, Imere, Ago-Iwoye, is expected to bring the celebration to a close on Sunday, October 11.

Speaking on the significance of the event, the Secretary of the Planning Committee, Dr Samuel O. Awobona, said the turnout demonstrated the commitment of indigenes and residents to preserving the town’s identity and advancing its development.

He said, “This weeklong celebration underscores our collective resolve to preserve our identity while driving grassroots development. The massive turnout across all generations reflects the enduring spirit of Ago-Iwoye.”

The annual celebration provides an opportunity for the community to showcase its traditions while bringing residents, young people and indigenes in the diaspora together around shared cultural and developmental goals.

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2027: INEC begins distribution of 77,015 PVCs in Oyo Friday

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The Independent National Electoral Commission will on Friday begin the distribution and collection of 77,015 newly printed Permanent Voter Cards across Oyo State ahead of the 2027 general elections.

The exercise, which will run from October 9 to 15, will be conducted at the 351 registration areas and wards across the state.

The Resident Electoral Commissioner in Oyo State, Prof. Adeniran Tella, disclosed this in a statement issued on Tuesday.

Tella said the exercise would hold daily, including weekends, between 9am and 3pm.

He explained that the exercise would cover newly printed PVCs as well as unclaimed cards printed ahead of the 2023 general elections.

The REC urged eligible voters to visit their respective registration areas during the seven-day exercise to collect their cards.

He also appealed to members of the public to disregard information circulating online suggesting that the Continuous Voter Registration exercise was still ongoing.

According to him, the CVR exercise ended on July 26, 2026.

Tella said those expected to benefit from the current exercise included newly registered voters, persons who had lost their PVCs, voters who requested transfers from one polling unit to another, and those whose cards were damaged or defaced during the last CVR exercise.

He said the collection of PVCs would continue at INEC offices in the 33 local government areas of the state after the seven-day exercise at the registration areas and wards.

The same collection hours of 9am to 3pm would apply at the local government offices, he added.

Tella further assured residents that the commission would receive additional batches of newly printed PVCs for distribution in the state.

He therefore urged eligible voters and other stakeholders to take advantage of the exercise and ensure that their PVCs were collected ahead of the 2027 elections.

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Alli Campaign Warns Against Fraudsters Collecting NIN, Bank Details

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The campaign organisation of the All Progressives Congress governorship candidate in Oyo State, Senator Sharafadeen Alli, has warned members of the public against fraudsters allegedly impersonating the senator and members of his campaign team to obtain sensitive personal information.

The organisation said the suspected fraudsters had been contacting unsuspecting members of the public by telephone and requesting their National Identification Numbers, bank account details and other confidential information.

The warning was contained in a statement issued on Saturday by the Director of Media and Publicity of the campaign organisation, Bisi Oladele.

Oladele described the development as an attempt to deceive members of the public and expose their personal and financial information to possible abuse.

He said, “Neither Senator Sharafadeen Alli nor his campaign organisation has authorised anyone to solicit NINs, bank details, passwords, PINs, One-Time Passwords or any other confidential information from members of the public.”

The campaign organisation urged anyone who receives such calls or messages to disregard them and avoid disclosing personal, banking or identification details until the identity of the caller has been properly verified.

It also cautioned members of the public against transferring money or responding to requests for financial assistance made through unverified telephone numbers, social media accounts or other unofficial communication channels purportedly linked to the campaign.

The organisation warned that sensitive information could be exploited for identity theft, financial fraud and other criminal activities.

It urged victims or members of the public who encounter suspicious calls or messages to report them promptly to the appropriate security agencies.

The campaign organisation said it was taking the allegations seriously and would cooperate with relevant authorities to identify and prosecute anyone found to be involved in impersonation, fraud or other criminal activities using Alli’s name.

It further advised the public to remain vigilant and verify unsolicited requests before responding to them, stressing that information about Alli and his campaign should be obtained only through officially verified communication channels.

The organisation reaffirmed Alli’s commitment to lawful and transparent engagement with the people of Oyo State, maintaining that legitimate political engagement does not require anyone to surrender confidential banking or identity information to unidentified callers.

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