NEITI Report: Reps Committee Invites NNPC, Others For Investigation

Related stories

Alleged N6.9Billion Fraud: Drama as Ex-Governor Fayose Wins in Court

• Court Dismisses EFCC’s Money Laundering Charges By Abiola Olawale The...

Natasha vs Akpabio: Senate President Heads to Court, Challenges Court Order to Reinstate Senator

By Abiola Olawale President of the Senate, Senator Godswill Akpabio...

Nigeria Surpasses OPEC’s 1.5 Million Barrel Oil Quota in June 2025

By Abiola Olawale In a major achievement for Africa’s largest...

“Nigeria’s challenges not about the constitution, but its operators”, says Obasanjo

By Yanju Uwala A former Nigerian President and military Head...

The House of Representatives ad-hoc Committee on the recovery of outstanding debts owned the Federal Government by Oil and Gas companies in Nigeria, has invited the Nigeria National Petroleum Corporation (NNPC) and many others for investigation.

Others invited include the Niger Delta Development Commission (NDDC), Federal Inland Revenue (FIRS), Upstream Regulatory Commission, Midstream, Downstream Regulatory Authority, among others.

This is based on the report of the National Extractive Industries Extractive Initiative (NEITI) that 77 Oil and Gas companies operating in Nigeria are owing the Federal Government over N2.6 trillion.
Mr Eric Makwe, the Clerk of the Committee, said this in a statement on Monday in Abuja, against the backdrop of the 2020 NEITI report.

He said that the invitation was based on the motion at plenary on Nov. 30, 2021, which cited the NEITI report that 77 Oil and Gas companies operating in Nigeria are owing the Federal Government over N2.6 trillion.

The clerk said the House had urged NEITI, the National Oil Spill Detection Agency (NOSDRA) and the Federal Inland Revenue Service (FIRS) to provide necessary data needed to facilitate recovery of the debts.
He, however, said that Rep. Nkeiruka Onyejeocha, who is heading the 18-member ad hoc committee investigating the matter, assured that it would thoroughly investigate all issues raised in the report.

According to him, the probe is in respect of outstanding liabilities owed by oil and gas which include payments of royalties, levies, rents, concessions, rentals, and penalties.
Others are taxes, including petroleum profit tax, company income tax, education tax, Value Added Tax, withholding tax, among others.

Makwe said that the major concern of the lawmakers is on the current poor revenue structure and rising debt profile which the government is contending with.
He said that the committee had gone into action and is already making interesting discoveries. (NAN)

Agency Report
Agency Report
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
Natasha vs Akpabio: Senate President Heads to Court, Challenges Court Order to Reinstate SenatorNigeria Surpasses OPEC’s 1.5 Million Barrel Oil Quota in June 2025"Nigeria's challenges not about the constitution, but its operators", says ObasanjoElderstatesman, Emeka Anyaoku, Speaks Again , Urges Nigeria to Adopt a "People’s Democratic Constitution"Breaking! Atiku Abubakar Quits PDP, Signals Major Political Shift Ahead of 2027 ElectionsNational Grid Crisis: Six Universities, MTN, NDA, 16 Others Exit Grid, Resort to Own Power GenerationAs the US, UAE Close its Doors, FG Pledges Diplomatic ResolutionWhat NATO Countries Spend on Military, Health, and EducationNigeria: Flying Blind In The Global SpaceIs the world shutting its door on Nigeria?, By Dakuku Peterside[VIDEO] End of an Era!Tears as Buhari is Laid to Rest in DauraEnd of an Era: Massive Security Presence in Katsina as Nigerians Prepare for Buhari’s FarewellFemi Adesina Counters Critics, Says Buhari Would 've Died Before Now if He Used local HospitalsTribute To The Late Former President, Muhammadu Buhari GCFR[PHOTOS]Buhari: Tinubu Arrives Katsina for State Burial
X whatsapp