House of Reps Recovers ₦28.7 Billion from Oil Firms in One Week, Vows to Pursue Remaining ₦1.3 Trillion Debt

The Nigerian House of Representatives, through its Public Accounts Committee (PAC), has recovered a staggering $19,241,109.35 (approximately ₦28.7 billion) from two oil companies within just one week. This forms part of an intensified effort to reclaim outstanding revenues owed to the Federation Account, following damning revelations from the 2021 Audit Report.

According to Rep. Akin Rotimi Jr., the House Spokesman, the audit uncovered a total liability of $1.7 billion (over ₦1.3 trillion) owed by 45 oil companies. The PAC has since ramped up investigations, compelling some defaulting firms to settle their debts.

Breakdown of Recent Recoveries

Chorus Energy Limited remitted $847,623 (₦1.2 billion) on March 11, 2025, clearing its outstanding liabilities.

Seplat Production Development Limited fully settled its debt by paying $18.39 million (₦27.6 billion) in tranches between March 10 and March 14, 2025.


The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been furnished with evidence of these payments for final verification.

Rotimi further revealed that Shoreline Natural Resources Ltd. had made a $30 million payment towards its $100.28 million debt before the probe commenced. The company has since requested a structured repayment plan for its outstanding balance.

During a recent PAC hearing, NUPRC representative Balarabe Haruna disclosed that Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing Nigeria) now holds a credit balance for various financial obligations, including:

$211,911.09 for crude oil royalties

$33.01 million for gas flare penalties

$163,046.40 for concession rentals

As a result, Seplat Energy has no outstanding liabilities. The PAC commended the company for its swift compliance and urged others to follow suit.

Full Debt Settlement by Some Oil Giants

The Committee confirmed that the following oil firms have fully discharged their obligations and are no longer indebted to the government:

Amalgamated Oil Company Nigeria Ltd

Seplat Energy

Shell Exploration and Production

Shell Petroleum Development Company


Unwavering Commitment to Accountability

The Public Accounts Committee reaffirmed its resolve to recover every outstanding kobo from defaulting oil companies, emphasizing that all constitutionally sanctioned measures would be deployed to ensure compliance.

With over ₦1.3 trillion still outstanding, the House of Representatives is set to intensify its crackdown, leaving no room for financial misconduct in Nigeria’s oil and gas sector.