Representatives give oil companies 7 days to put $ 23.2 million – Blueprint Newspapers Limited

The public finance committee of the House of Representatives has again recovered the sum of $ 14.2 million (about N21.4 billion) by four oil companies and gas as part of its investigations underway on the discrepancies of revenue in the sector.

The Committee had announced on March 16, 2025 by the defection of the oil companies about N28.7 billion (about $ 19.24 million), bringing the total of these funds recovered incessant to $ 33.44 million (about ₦ 50.1 billion).

The breakdown of the latest recoveries showed that from Platform Petroleum Ltd., the sum of $ 1.9 million (N2.9 billion) was recovered, while $ 1,578 (N2.3 billion were recovered from Midwestern Oil and Gas Ltd, Universal Energy: $ 523,845 (N785.7 million) and Aradel Energy Ltd: $ 10.3 billion (N15.5 billion).

A declaration of the spokesman for the House of Representatives, Akin Rotimi, on Sunday cited the president of the Committee, Bamidele Salam, while crediting the successful success to the constant support and leadership of the speaker Tajudeen Abbas.

According to him, the company’s commitment company against legislative supervision and responsibility ensured that the committees work effectively, free from undue interference and with a clear mandate to safeguard public resources.

He said: “Under the guidance of the rabbed, the Chamber of Representatives has strengthened its commitment to tax transparency and good government. The independence granted to committees such as ours has allowed us to diligently carry out our mandate, ensuring that public funds are adequately taken into account.

“This approach has been decisive in our ability to recover these substantial sums and remain still in our mission to strengthen financial responsibility in Nigeria.

“The Committee has, however, issued the ultimatum to four companies to put a total of $ 23.2 million (N34.8 billion), underlining that the inability to respect the scheduled times would involve the application of appropriate sanctions, including the public name of defaulting in national newspapers.

“Companies include total energies: $ 2 million within seven days, Seplat Energies (SPDC): $ 6,036 million and n1.5 billion within seven days, Aradel Energy Ltd: $ 12.1 million within seven days and exploration of the network: $ 3.1 million within seven days.”

He also warned those who snub his invitation to have a rethinking, saying: “The era of impunity and financial inconsciousness in the oil and gas sector is about to end. We are determined to recover every Kobo due to the Nigerian people …”.