NewsExpress advert FCMB banner
10 firms in trouble over $250m oil money

By Raji Rasak on 14/12/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 991

•Reps Committee Chairman Jerigbe Agom
•Reps Committee Chairman Jerigbe Agom

The House of Representatives Committee on Oil and Gas is investigating 10 oil companies for alleged failure to remit $250 million to the Federal Government.

The committee has threatened to issue warrant of arrest on the Managing Directors of the companies of they fail to appear before it on Thursday.

Mr Jerigbe Agom, the Chairman of the Committee, issued the warning at its sitting in Lagos on Wednesday.

The Chairman berated the companies, including, Aiteo Energy, Neconde Energy, Frontier Energy and seven indigenous oil companies for allegedly not showing interest to remit the fund.

Agom also ordered the Managing Director of the Nigerian Petroleum Development Company (NPDC) to appear before the committee in Abuja on Dec. 19 over Operating Mining Lease (OML) 119.

The company is to explain why the block was producing 5,000 barrels in spite of its capacity to deliver beyond.

He said the subsidiary arm of the Nigerian National Petroleum Company (NNPC) failed to remit $10 million accrued debt in line with the agreement it reached with the Department of Petroleum Resources (DPR).

The Chairman said that NNPC had, on many occasions, shunned the committee’s invitations to explain the infraction.

He wondered why the NNPC, which efforts should be instrumental to government drive to block revenue leakage in the oil and gas sector, turn down his committee’s sitting for no reason.

He also spoke on ExxonMobil Nigeria’s Gas-To-Liquid project, saying that same was illegal because it had no licence from the Department of Petroleum Resources (DPR).

Agom added that the committee observed the infraction and would not allow the illegality to linger without addressing the situation.

The committee, in the meantime, gave the IOCs two weeks to tidy their grey arrears in the remittance of fund to the Federal Government.

The Deputy Director, Planning, DPR, Mrs Folashade Odunuga, said International Oil Companies (IOCs) had shown deep interest to pay their debts to the government but was constrained by fiscal price disparity.

She also said though the NPDC promised to remit 10 million dollars to narrow its debt, but it failed to fulfil its pledge.

Odunuga said the agency would play its watchdog roles very well and make rigorous moves to block revenue leakages in the nation’s oil and gas sector. (NAN)

Source News Express

Posted 14/12/2017 11:53:16 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
Tension in Ekiti as Fayose knows fate today...

Benue indigenes drag FG to ECOWAS Court

Security expert charges Prison Media Network on life...

FG ready to pay for Chibok Girls’ release...

Bandits kill Benue Governor’s aide, injure wife

2015: PDP disqualifies Abia Gov’s son over alleged...

Police arrest 2 masquerades over robbery

Police dismisses reports of take-over of Cross River...

Zinox Group to partner FG on job creation...

NAFDAC drags trader to court for allegedly obstructing...

Boko Haram over-runs parts of Adamawa State

Troops spring surprise on Boko Haram terrorists, recover...


Latest News It will be a day of clouds and sunshine, with chances of localised thunderstorm — NiMet Traditional ruler, 9 others killed in fresh Kogi attack Ex-bank MD, Director remanded in prison over forgery Senator Dino Melaye charged with illegal possession of guns 9-year-old boy shoots sister dead over video game controller Orji Kalu’s trial: Abia Govt. House Accountant on the run IGP Idris orders withdrawal of policemen attached to VIPs Self-driving Uber car kills pedestrian Compensate sacked married women, Globacom told Robots to take over jobs from African workers Land Use Charge Law: Lagos lawmakers set up review committee Obiano re-appoints SSG, PS, appoints Chief Press Secretary


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (332,381 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (325,037 views) Shameless Genevieve Nnaji exposes breasts in public (260,789 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (214,337 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (197,985 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (192,380 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (167,665 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (150,390 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (143,134 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (133,212 views) Lagos plane crash: Journalist releases victims’ names (132,586 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (125,862 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business & Economy (2,972) Business Verdict (36) Columnists (814) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (455) Features (552) Global Business Monitor (238) International (1,856) Interview (146) Live Commentary (28) Love Matters (114) News (33,732) Opinion (895) Pidgin (10) Politics (4,625) Religion (701) Sports (1,457) Stock Watch (28) AMA & Al Jazeera Global Update





Football Highlight -- BARCELONA - CHELSEA 3:0


APO Group Partner




REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera