Key Points
- Senate orders Seplat Energy, Network E&P and others to appear before its Public Accounts Committee.
- Firms were absent from a hearing on NEITI audit queries.
- Committee threatens to invoke its constitutional powers if companies fail to appear.
- Dubri Oil disputes a reported $3.25m debt, citing reconciliation with NUPRC.
Main Story
The Senate has given Seplat Energy, Network E&P Nigeria Ltd. and other oil companies 48 hours to appear before its Public Accounts Committee over unresolved audit queries contained in reports by the Nigeria Extractive Industries Transparency Initiative (NEITI).
The affected companies failed to attend the committee’s investigative hearing in Abuja on Tuesday, prompting lawmakers to issue the ultimatum.
Other companies listed by the committee are All Grace Energy Ltd. and Aradel Energy. The queries relate to NEITI’s 2021, 2022 and 2023 audit reports.
Chairman of the committee, Sen. Abdul Ningi, expressed concern over the companies’ failure to honour the invitation, describing their absence as unacceptable.
Ningi also criticised the position reportedly taken by one of the companies that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was its only regulator.
He said such a position did not override the constitutional oversight authority of the National Assembly.
Ningi cited Sections 88 and 89 of the 1999 Constitution, which empower the legislature to summon individuals, organisations and government agencies to provide information on matters of public interest.
Sen. Shehu Kaka also urged the committee to use its constitutional powers against companies that continued to disregard its invitations.
He specifically directed the Managing Director of Network E&P Nigeria Ltd. and other affected executives to appear before the committee on Thursday or face legislative action.
Meanwhile, Dubri Oil Company Ltd. appeared before the committee to respond to a reported $3.25 million liability relating to royalties and gas flaring.
Representing the company, Mr Soyode Olusoji said the amount arose from reconciliation issues between Dubri Oil and NUPRC.
He explained that the audit findings were compiled while discussions between the company and the regulator were still ongoing.
According to the NEITI report, information supplied by NUPRC in 2025 showed that Dubri Oil had liabilities of $3.25 million.
The reported amount comprised $2.378 million in gas flare liabilities and $646,605.55 linked to oil production activities.
Olusoji told lawmakers that the reconciliation had subsequently been completed and that Dubri Oil no longer had an outstanding liability.
He submitted documents supporting the company’s position and asked the committee to examine them before reaching a conclusion.
The committee said it would review the documents as part of its investigation into the audit findings.
The Issues
The Senate’s action centres on companies’ responses to audit queries contained in NEITI reports. The committee is asserting its constitutional oversight powers while some companies have raised questions about the scope of legislative invitations and their regulatory obligations.
What’s Being Said
“The Senate and, by extension, the National Assembly, is the custodian of Nigerian law and has power to invite anybody or agency.” – Sen. Abdul Ningi, Chairman, Senate Public Accounts Committee
“They should appear before us unfailingly on Thursday this week or risk full invocation of legislative powers against them.” – Sen. Shehu Kaka
What’s Next
The affected oil companies are expected to appear before the Senate committee within the 48-hour deadline and respond to the outstanding audit queries. The committee will also review documents submitted by Dubri Oil concerning its reported liabilities.
Bottom Line
The Senate is escalating its scrutiny of oil companies named in NEITI audit findings, with non-compliant firms facing possible legislative action.
