Senate Issues 48-Hour Ultimatum to Oil Firms

On Tuesday, the Senate Public Accounts Committee (SPAC), chaired by Senator Ibrahim Dankwambo (Gombe North), mandated Seplat Energy (NGX: SEPLAT), Network E&P Nigeria Limited, All Grace Energy Limited, and Aradel Energy Limited to appear within 48 hours to address queries from the Nigeria Extractive Industries Transparency Initiative (NEITI) audit reports for 2021, 2022, and 2023. The committee's decision followed concerns over the companies' repeated absences from proceedings.

Senator Abdul Ningi (Bauchi Central), representing Bauchi-Central, criticized Network E&P Nigeria Limited's letter claiming that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was its reporting body, calling it disturbing. He emphasized the National Assembly's constitutional authority to summon any organization for inquiries.

Senator Shehu Kaka Lawan (Borno Central) supported calls for sanctions against the firms. Dankwambo specifically warned the Managing Director of Network E&P Nigeria Limited to appear by Thursday or face legislative action, with similar ultimatums issued to the other companies for their absence.