Senate Committee Issues Ultimatum to Four Oil Companies

The Senate Public Accounts Committee issued a 48-hour ultimatum to Seplat Energy, Network E&P Nigeria Limited, All Grace Energy Limited, and Aradel Energy Limited after the firms failed to attend an investigative hearing in Abuja on Tuesday. The companies must respond to queries stemming from 2021, 2022, and 2023 audit reports submitted by the Nigeria Extractive Industries Transparency Initiative.

Committee members expressed frustration over the companies' repeated failures to honor invitations. Senator Abdul Ningi rejected claims by Network E&P Nigeria Limited that it was accountable only to the Nigerian Upstream Petroleum Regulatory Commission, asserting that the National Assembly holds the constitutional power to summon any entity for investigation. Senator Shehu Kaka warned that the firms must appear by Thursday or risk the full invocation of legislative powers.

In a separate matter, Dubri Oil Company Limited appeared before the committee to contest a reported debt in royalties and gas flare liabilities. While one report cited the debt at $3.025 million and another at $3.25 million, the company asserted the liability resulted from a reconciliation issue with the regulator that has since been resolved.