Falana Gives Senate 14 Days to Recover $123.17bn, N66.4bn Unremitted Oil Revenues from NNPC, IOCs, Others
– Says $62bn worth of royalties not collected from companies for 18 years – Alleges $23.1bn NLNG dividends withheld by state oil firm; threatens legal suit on non-compliance Peter Uzoho
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has urged the Senate President, Senator Godswill Akpabio, to swiftly recover $123.17 billion and N66.4 billion owed to the Nigerian government by various entities, including the Nigerian National Petroleum Company Limited (NNPC), international oil companies (IOCs), and indigenous producing firms.
In a letter addressed to the Senate President and Speaker of the House of Representatives, Falana cited court judgments and federal agency reports establishing the debt. Falana gave the National Assembly 14 days to initiate the recovery process, warning that legal action may be taken if no action is taken within that time frame.
The uncollected funds include $62 billion in unpaid royalties from IOCs for 18 years, $23.1 billion in withheld NLNG dividends, and $17 billion in undeclared crude oil exports. Falana emphasized that the government must comply with court rulings or face legal consequences.
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