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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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2027: Makinde’s Successor Must Be Muslim, Aare Musulumi Declares

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The Aare Musulumi of Yorubaland, Edo and Delta States, Alhaji Dahud Makanjuola Akinola, has insisted that Governor Seyi Makinde’s successor in 2027 should be a Muslim, throwing his weight behind the All Progressives Congress governorship candidate, Senator Sharafadeen Abiodun Alli.

Akinola said the governorship ticket should go to a popular Muslim candidate, citing an alleged understanding reached between Muslim and Christian leaders in Oyo State ahead of the 2023 governorship election.

He stated this on Thursday at a special empowerment programme organised by the Asiwaju Musulumi of Oyo State, Alhaji Mutiu Oladejo Azeez Onimalu, at his residence in Egbeda, Ibadan.

According to him, the understanding was that Muslim and Christian leaders would support Makinde’s second-term ambition in 2023, with the expectation that a popular Muslim candidate acceptable to both religious groups would receive their backing in 2027.

The Islamic leader described Alli’s emergence as the APC governorship candidate as divinely ordained, claiming that the senator had secured the support of Muslims and Christians across the state.

He urged residents to rally behind Alli, expressing confidence that those involved in the reported agreement would honour their commitment.

Akinola also commended Onimalu for his contributions to the growth of Islam and his philanthropic activities, noting that his humanitarian efforts had continued to make a positive impact on the lives of the people.

In his welcome address, Onimalu disclosed that his foundation planned to empower at least 10,000 people, particularly unemployed graduates and widows, to cushion the effects of the prevailing economic hardship.

He said the initiative was designed to make beneficiaries financially independent and reduce their dependence on relatives and acquaintances for survival.

The Asiwaju Musulumi also declared support for Alli’s governorship ambition, expressing confidence in his victory at the 2027 election.

He maintained that the reported understanding between Muslim and Christian leaders in the state should be respected, urging the Christian Association of Nigeria (CAN) and other Christian organisations reportedly involved in the arrangement to honour their commitment.

Onimalu consequently called on residents to support Alli and vote for him in the February 2027 governorship election.

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Oyo APC Senate Candidate, Oseni, Gifts Cars to Party Leaders, Sarkin Hausawa {Photos}

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has presented three Toyota Camry cars to two party leaders and the Sarkin Hausawa of Ibadanland, Alhaji Muhammad Shuaibu Dikko, in recognition of their loyalty, support and contributions to his political journey.

The beneficiaries are Alhaji Muftau Adisa Gbayawu of Ibadan South-East Local Government Area, Pa Dayo Adeola of Ibarapa East Local Government Area and Alhaji Dikko. The presentations were made on Tuesday and Thursday at the lawmaker’s residence in Ibadan.

Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives and chairs the House Committee on the Federal Roads Maintenance Agency (FERMA), said the gesture reflected his belief that leadership should be anchored on gratitude and recognition of those who contribute to collective progress.

 

In a statement issued by his media aide, Idowu Ayodele, and made available to journalists in Ibadan on Thursday, the lawmaker described the presentations as a personal expression of gratitude to individuals whose commitment and encouragement had remained invaluable over the years.

The statement also explained that the latest gesture was part of Oseni’s longstanding personal tradition of expressing gratitude to God Almighty and appreciating people who had contributed to his journey.  It further stressed that the gesture was not an isolated one, but complemented several other ways through which he had consistently recognised and rewarded loyalty, commitment and support.

“This is not just a gesture; it is part of my personal commitment to showing gratitude to God Almighty and appreciating people whose support, loyalty and encouragement I never take for granted,” Oseni said.

He noted that the beneficiaries had remained steadfast in their support for his political vision, stressing that their contributions and sacrifices deserved recognition.

The APC candidate also reaffirmed his commitment to inclusive representation, maintaining that his vision for Oyo South transcended religious, ethnic and gender differences.

“My vision for Oyo South is bigger than religion, ethnicity or gender. It is about bringing people together, respecting our diversity and building a representation in which every community and every constituent matters,” he said.

Oseni assured party leaders, supporters and constituents that he would continue to acknowledge their trust, sacrifices and dedication, describing their contributions as vital to the collective effort to advance the senatorial district. He added that more party leaders would receive similar gestures in the coming days.

The beneficiaries, in their separate remarks, expressed appreciation to the lawmaker for what they described as an unexpected but deeply touching gesture. They commended his thoughtfulness and regard for those who had stood by him, offered prayers for God’s continued guidance and protection, and reaffirmed their support for his political journey.

Describing Oseni as a rare breed of politician with a genuine commitment to the welfare of the people and grassroots development, they pledged to continue supporting him as he discharges his legislative responsibilities at the National Assembly.

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Oyo South APC Candidate, Oseni, Takes Delivery of 20 New Transformers for Distribution

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Oseni, has taken delivery of 20 additional transformers for distribution to communities across the district as part of efforts to address electricity challenges and strengthen local infrastructure.

The latest consignment is expected to provide relief to communities grappling with inadequate power supply, particularly households, traders, artisans and small-scale business owners whose economic activities are often hampered by unreliable electricity.

In a statement issued by his media aide, Idowu Ayodele, and made available to journalists in Ibadan on Saturday, Oseni, who currently represents Ibarapa East/Ido Federal Constituency in the House of Representatives and chairs the House Committee on the Federal Roads Maintenance Agency (FERMA), described electricity as a critical driver of economic growth, community development and improved living standards.

He said the intervention was informed by the need to respond to the everyday challenges confronting residents, noting that access to reliable electricity remained essential to both domestic and commercial activities.

“We recognise the difficulties our people face as a result of inadequate electricity supply. For traders, artisans, small business owners and families, reliable power is not a luxury but an important part of their daily lives. The arrival of these 20 additional transformers is another practical step towards responding to those concerns and supporting our communities,” he said.

The lawmaker explained that the transformers would be distributed to identified communities based on their electricity needs, adding that care would be taken to ensure the equipment served its intended purpose and delivered tangible benefits to residents.

He further stressed that effective representation should go beyond political promises and public pronouncements, noting that elected leaders must demonstrate their commitment through practical interventions that address the needs of their constituents.

“Our people deserve more than promises. They deserve leadership that pays attention to their challenges and is committed to finding practical ways to address them. We will continue to support initiatives that improve living conditions, strengthen local businesses and bring development closer to our communities,” he added.

The latest delivery adds to Oseni’s infrastructure support efforts across Oyo South, with electricity supply remaining a major concern for many communities in the senatorial district.

The intervention is also expected to complement his earlier efforts to improve electricity distribution and service delivery across the affected communities.

Oseni reaffirmed his commitment to supporting initiatives aimed at improving the welfare of residents and promoting sustainable development across Oyo South.

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