Reps probe NNPCL, oil firms over ₦432bn NMDPRA debt
The House of Reps is investigating a massive ₦432bn NNPCL debt and liabilities from other oil firms owed to the NMDPRA. Read the latest on the probe. Read More: https://punchng.com/reps-probe-nnpcl-oil-firms-over-%e2%82%a6432bn-nmdpra-debt/
The House of Representatives Public Accounts Committee has launched an investigation into unpaid regulatory debts owed by the Nigerian National Petroleum Company Limited (NNPCL) and various oil companies to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) amounting to ₦432.07bn. The investigation was prompted by findings in the Auditor-General's annual audit reports, which revealed liabilities totaling ₦392.73bn in 2023 and ₦432.07bn in 2024, with NNPCL accounting for ₦162.46bn and oil companies under DAPPMAN, MEMAN, and MOMAN owing ₦327.53bn.
The committee aims to establish the facts behind the outstanding liabilities, ensuring that all government revenue due from these entities is accounted for and recovered.
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