The House of Representatives has given a three-day deadline to oil companies that failed to appear for an investigative hearing on the N9.4 trillion debt owed to the Federal Government.
The ultimatum was issued by the ad hoc committee investigating the debt on Monday after several oil companies shunned its invitation.
Only Belema Oil Producing Ltd, out of the nine companies summoned, honoured the invitation. However, the company’s team, led by Managing Director Ahmad Sambo, was asked to return on Tuesday due to the late submission of documents.
The affected companies include Waltersmith Petroman Limited, Addax Petroleum Exploration Nigeria Ltd, AITEO Group, Britannia-U, All Grace Energy, Amalgamated Oil Company Nigeria Limited, Amni International Petroleum Development Company Limited, and Bilton Energy Limited.
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The investigation follows a report by the Office of the Auditor General of the Federation (OAuGF), which detailed the debt arising from unpaid royalties, gas flare penalties, concession rentals, and obligations from production sharing contracts and other agreements.
The committee warned that failure to appear within the three-day ultimatum would attract necessary sanctions.