REPS ordered an oil company to send $ 4 million to a federation account

The Public Account Committee of the House of Representatives on Wednesday ordered OML18 Resources Limited, to send $ 4,020,000 to the federation account within five days.

The company was previously known as Sahara Field Productions Limited.

The Committee, according to a statement issued by its media unit, gave directions to the investigation session on extraordinary debt ownership to the federal government by the oil company.

This exercise follows the release of the 2021 Audit Report and data by the Nigerian Upstream oil regulatory commission regarding the activities of 45 oil companies in the country.

NUPRC revealed that the company owed a federal government of $ 1.7 billion.

The statement reads: “The NUPRC representative, Balarabe Haruna, reported that the OML18 resources owed a total of $ 20.23 million, consisting of $ 17. 37 million in crude oil royalties and a gas flare of $ 2.86 million.”

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