The House of Representatives Public Accounts Committee has opened an investigation into ₦432.07bn in outstanding regulatory liabilities owed the Nigerian Midstream and Downstream Petroleum Regulatory Authority by oil companies and the Nigerian National Petroleum Company Limited.
PAC Chairman, Bamidele Salam, announced the probe in a statement on Wednesday, September 9, 2026, following findings in the Auditor-General of the Federation’s annual audit reports.
The 2023 audit report put the combined liabilities of NNPCL and affected oil companies at ₦392.73bn, comprising ₦162.46bn owed by NNPCL and ₦230.27bn owed by companies under the Depot and Petroleum Products Marketers Association of Nigeria, Major Oil Marketers Association of Nigeria and Major Energy Marketers Association of Nigeria.
The obligations include Balancing Allowance, National Transport Average, the one per cent Midstream and Downstream Gas Infrastructure Fund, and legacy liabilities from importation, coastal and credit transactions.
The 2024 audit report subsequently placed outstanding liabilities at ₦432.07bn, excluding NNPCL’s obligations.
NMDPRA told the committee that 146 companies under DAPPMAN, MEMAN and MOMAN owed the regulator ₦327.53bn as of 2025, with some liabilities dating back to 2017.
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The committee will examine how the debts accumulated, the basis of the assessments, payments already made, balances outstanding and measures taken by the regulator to recover the funds.
Salam directed all summoned companies and institutions to appear with appropriate representatives and relevant records, stressing that the inquiry was aimed at establishing the facts and safeguarding public revenue.
The latest investigation follows a February 18, 2025, PAC probe into about $1.6bn in outstanding petroleum royalties allegedly owed to the Federation Account by NNPCL and other oil companies.
That inquiry centred on royalties outstanding as of the end of 2021 and payable to the Nigerian Upstream Petroleum Regulatory Commission under Production Sharing Contracts, Repayment Agreements and Modified Carry Arrangements.
The latest probe underscores continued legislative scrutiny of revenue collection, accountability and remittance across Nigeria’s petroleum sector.
NMDPRA, established under the Petroleum Industry Act, regulates Nigeria’s midstream and downstream petroleum operations.