Reps invite NNPC, FIRS others over NEITI report 

The House of Representatives Ad Hoc Committee on the Recovery of Outstanding Debts Owned by Federal Government Gas Companies in Nigeria has invited the Nigerian National Petroleum Company (NNPC), Federal Revenue Agency (FIRS) and many others to investigate.

Other guests include the Niger Delta Development Commission (NDDC), Upstream Regulatory Commission, Midstream, Downstream Regulatory Authority, among others.

This is based on the National Extractive Industries Extraction Initiative (NEITI) report that 77 oil and gas companies operating in Nigeria owe the federal government more than N2.6 trillion.

Mr Eric Makwe, secretary of the committee, said this in a statement on Monday in Abuja, in the context of the NEITI 2020 report.

He said the invitation was based on the motion in plenary on November 30, 2021, which cited the NEITI report that 77 oil and gas companies operating in Nigeria owe the federal government more than N2.6 trillion.

The secretary said that the Chamber had urged NEITI, the National Oil Spill Detection Agency (NOSDRA) and the Federal Internal Revenue Service (FIRS) to provide the necessary data to facilitate the recovery of the debts.

However, he said Rep. Nkeiruka Onyejeocha, who heads the 18-member ad hoc committee investigating the matter, said he would thoroughly investigate all issues raised in the report.

According to him, the investigation refers to unpaid gas liabilities that include payments of royalties, levies, rents, concessions, rents and fines.

Others are taxes, including the oil profit tax, the corporate income tax, the education tax, the value-added tax, the source tax, among others.

Makwe said lawmakers’ main concern is the current poor revenue structure and rising debt profile facing the government.

He said the committee had sprung into action and is already making interesting discoveries.