The Public Accounts Committee of the House of Representatives has recovered an additional ₦21 billion from four oil firms in unpaid revenue, royalties, and taxes, bringing the total amount recovered from oil companies to over ₦50 billion.
This was disclosed in a statement on Sunday by the House spokesperson, Rep. Akin Rotimi Jr., who noted that the latest recovery of $14.2 million (₦21.4 billion) is part of the committee’s ongoing probe into financial discrepancies in the sector.
“This latest recovery follows an earlier announcement on March 16, 2025, of recoveries amounting to ₦28.7 billion ($19.24 million), bringing the total recovered so far to $33.44 million (₦50.1 billion),” the statement read.
The committee chairman, Rep. Bamidele Salam, attributed the success of these recoveries to the leadership and unwavering support of the Speaker of the House, Hon. Abbas Tajudeen.
Meanwhile, the committee has issued a 20-day ultimatum to four oil companies, mandating them to remit a total of $23.2 million (₦34.8 billion) in outstanding payments.
The Public Accounts Committee’s probe into financial irregularities in the oil and gas sector remains ongoing.
