The House of Representatives Public Accounts Committee (PAC) has launched an investigation into outstanding financial obligations owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and oil companies, with the total liabilities now put at about ₦432 billion.

The probe was triggered by findings in the Auditor-General’s annual audit reports detailing billions of naira in unpaid regulatory and petroleum-related obligations.

The Auditor-General’s 2023 Annual Audit Report revealed that NNPCL and oil companies operating under the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Major Marketers Association of Nigeria (MOMAN) and Major Energy Marketers Association of Nigeria (MEMAN) owed NMDPRA more than ₦392 billion.

The debts, according to the report, arose from Balancing Allowance, National Transport Average, the one per cent Midstream and Downstream Gas Infrastructure Fund, as well as legacy obligations linked to import, coastal and credit transactions.

The 2023 breakdown showed that NNPCL owed more than ₦162 billion, while the affected oil companies accounted for about ₦230 billion.

However, the Auditor-General’s 2024 report indicated that the outstanding liabilities had risen to ₦432 billion, excluding NNPCL’s indebtedness.

Submissions by NMDPRA to the committee further showed that 146 oil companies under DAPPMAN, MOMAN and MEMAN owed the regulatory authority approximately ₦327 billion as of 2025.

The committee noted that the outstanding obligations covered the period from 2017 to 2023 and had largely remained unpaid at the time of the review.

Chairman of the Public Accounts Committee, Rep. Bamidele Salam, said the committee would compel all relevant entities to account for their obligations and provide the documents required to establish how the debts accumulated.

Salam also warned companies and institutions summoned by the committee against ignoring parliamentary invitations, insisting that they must appear with appropriate representatives and relevant records.

“Any company invited by this Committee must respect the people’s Parliament of the Federal Republic of Nigeria by honouring the summons with appropriate representation and all relevant documents,” he said.

“We are not here to witch-hunt anybody; our responsibility is to establish the facts, protect public revenue and ensure that every naira due to government is properly accounted for.”

He said the committee would examine the basis of the liabilities, the periods covered, payments already made, outstanding balances and measures taken by NMDPRA to recover the funds.

According to him, the investigation is intended to strengthen accountability in the management of public revenue and ensure that statutory debts owed to government agencies do not continue to accumulate unchecked.

The committee reaffirmed its commitment to exercising its constitutional oversight mandate and ensuring that government revenue is fully accounted for, while agencies take effective steps to recover outstanding liabilities.