The Senate Public Accounts Committee (PAC) has given Seplat Energy, Network E and P Nigeria Limited and two other oil companies 48 hours to appear before it and respond to queries arising from the 2021, 2022 and 2023 audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI).
The other companies summoned by the committee are All Grace Energy Limited and Aradel Energy Limited.
The committee, chaired by Ibrahim Dankwambo, issued the ultimatum on Tuesday after expressing displeasure over the repeated failure of the affected companies to honour its invitations.
The committee warned that failure by the companies’ managing directors to appear within the stipulated 48-hour period could trigger the invocation of the National Assembly’s constitutional powers.
The development followed a motion by Abdul Ningi (Bauchi Central), who took exception to a letter written by Network E and P Nigeria Limited stating that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was the regulatory body to which it was accountable.
Ningi described the position of the company as ‘disturbing and provocative,’ insisting that the National Assembly had the constitutional authority to summon any individual, company or government agency in connection with matters under its investigation.
‘The Senate and by extension, the National Assembly, is the custodian of Nigeria law that has power to invite anybody or agency for explanations on issues raised against them,’ he said.
Supporting Ningi’s position, Shehu Kaka (Borno Central) called for the invocation of the constitutional powers of the National Assembly against the managements of the companies that had failed to honour the committee’s invitations.
The committee subsequently directed the Managing Director of Network E and P Nigeria Limited to appear before it within 48 hours.
‘Having failed to honour the invitation of this committee two consecutive times, the Managing Director of Network E and P Nigeria Limited should appear before us unfailingly on Thursday this week or risk full invocation of legislative powers against him,’ Lawan said.
The committee also issued similar 48-hour ultimatums to the Managing Directors of All Grace Energy Limited, Aradel Energy Limited and Seplat Energy after their absence was noted during the proceedings.
The committee’s action is coming amid heightened scrutiny of the financial obligations of companies operating in Nigeria’s oil and gas sector, particularly discrepancies and outstanding liabilities identified in NEITI’s audit reports.
Meanwhile, Dubri Oil Company Limited, which appeared before the committee, disputed a $3.025 million royalty and gas flare liability attributed to it in the NEITI audit report.
According to the report, the NUPRC had submitted in 2025 that Dubri Oil owed $3.025 million, comprising $2.378 million in gas flare liabilities and $646,605.55 relating to oil production.
However, Soyode Olusoji, the company’s representative, rejected the liability, explaining that the figure reflected an earlier reconciliation dispute between Dubri Oil and the NUPRC.
According to him, the issue had subsequently been resolved following reconciliation between the company and the regulator, leaving no outstanding debt against Dubri Oil.
Clement presented documents to the committee to support the company’s position and demonstrate that the liability contained in the NEITI report no longer reflected the company’s current position with the regulator.
The committee said it would subject the documents to detailed scrutiny before determining whether to clear Dubri Oil of the liability.
The development means that while the four companies that failed to appear now face a fresh deadline backed by the threat of legislative sanctions, Dubri Oil’s case will depend on the committee’s verification of the documents presented and its reconciliation with the records of the NUPRC.