The House of Representatives Public Accounts Committee (PAC) says it is investigating the sum of N432.07 billion owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The liability is contained in the auditor-general’s 2024 annual audit report and excludes the indebtedness of the Nigerian National Petroleum Company Limited (NNPC).

The probe follows findings in audit reports on outstanding obligations arising from regulatory and petroleum-related activities.

Citing the auditor-general’s 2023 annual audit report, the committee said the NNPC and oil companies operating under the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Major Marketers Association of Nigeria (MOMAN) and Major Energy Marketers Association of Nigeria (MEMAN) owed the NMDPRA about N392.73 billion.

The 2023 report put NNPC’s indebtedness at N162.46 billion and that of the oil companies at N230.27 billion, according to the panel.

The lawmakers said the 2023 liabilities comprised obligations arising from balancing allowance, national transport average, and the 1 percent midstream and downstream gas infrastructure fund.

The committee said the report also identified legacy debts associated with imports, coastal transactions, and credit transactions.

Further review of submissions made by NMDPRA to the PAC showed that 146 oil companies operating under DAPPMAN, MEMAN, and MOMAN owed the authority N327.53 billion as of 2025.

The committee noted that the indebtedness, which covered the period from 2017 to 2023, largely remains unpaid as of the date of the review.

Bamidele Salam, chairman of the PAC, said the committee would ensure that the relevant entities account for their obligations and provide records needed to establish the circumstances surrounding the outstanding debts.

“Any company invited by this committee must respect the people’s Parliament of the Federal Republic of Nigeria by honouring the summons with appropriate representation and all relevant documents,” Salam said.

“We are not here to witch-hunt anybody; our responsibility is to establish the facts, protect public revenue and ensure that every naira due to government is properly accounted for.”

Salam said the committee would scrutinise records on the basis of the outstanding liabilities, the period covered, payments made, amounts still outstanding and actions taken by regulatory authorities to recover the debts.

He said the investigation is aimed at strengthening accountability in the management of public revenue and ensuring that statutory obligations owed to government agencies are not allowed to accumulate without appropriate recovery measures.

The PAC reaffirmed its commitment to exercising its constitutional oversight mandate by ensuring that public revenue is properly accounted for and that government agencies take appropriate steps to recover outstanding liabilities.