A brewing storm of debt and accountability is rocking Nigeria’s oil industry, as three major companies, Chorus Energy, Dubril Oil Company Limited, and Belema Oil, admitted to owing a staggering $5.5 million to the Federation Account.
Their confessions came under the intense scrutiny of the House of Representatives Public Accounts Committee on Tuesday, following revelations from the Auditor General for the Federation’s report.
The drama unfolded in a packed hearing room, where the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), represented by Mr. Balarabe Haruna, laid bare the extent of the companies’ financial obligations. The figures were damning: Chorus Energy owed $814,680.06; Dubril Oil’s debt reached $3,025,193.71, and Belema Oil admitted to an outstanding $1,703,617.68.
