Reps Demand Action from Oil Firms Over $5.5m Debt

Oil Companies Given Two Weeks to Settle $5.5m Owed

The House of Representatives Committee on Public Accounts has issued a 14-day ultimatum to three oil companies—Chorus Energy, Dubril Oil Company Limited, and Belema Oil—to remit a combined debt of over $5.5 million owed to Nigeria’s Federation Account.

Debt Breakdown:

• Chorus Energy: $814,680.06 and ₦181,954,238.43, comprising $396,907.76 for crude oil by price and $417,772.13 for crude oil by production.
• Dubril Oil Company: $3,025,193.71, including $1,058,000 for crude oil by price and $1,967,193.71 for crude oil by production.
• Belema Oil: $1,703,617.68, comprising $1,058,000 for crude oil by price and $645,617.68 for crude oil by production.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed these outstanding debts.

The committee has also summoned the chief executives of eight other oil firms over alleged debts totaling $506.5 million. Despite public summons, only one company appeared before the committee on Monday.