By Gift ChapiOdekina, Abuja
ABUJA — The House of Representatives Public Accounts Committee, PAC, has commenced an investigation into outstanding debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, by the Nigerian National Petroleum Company Limited, NNPCL, and oil companies, with the liabilities put at N432.07 billion.
The investigation followed findings contained in the Auditor-General’s annual audit reports on unpaid regulatory and petroleum-related obligations.
According to the Auditor-General’s 2023 Annual Audit Report, NNPCL 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, were indebted to NMDPRA to the tune of N392.73 billion.
The report said the liabilities arose from Balancing Allowance, National Transport Average, the one per cent Midstream and Downstream Gas Infrastructure Fund, as well as legacy debts relating to imports, coastal and credit transactions.
