The Senate Public Accounts Committee has issued a 48-hour ultimatum to Seplat Energy, Network E&P Nigeria Limited and two other oil companies to appear before the committee and respond to queries contained in audit reports of the Nigeria Extractive Industries Transparency Initiative.
The affected companies are required to respond to issues raised in the 2021, 2022 and 2023 NEITI reports.
The committee, chaired by Senator Ibrahim Hassan Dankwambo, warned that failure by the companies to honour the invitation could result in the National Assembly using its legislative powers against them.
The action followed concerns among lawmakers about the failure of the companies to appear before the committee and respond to questions arising from the NEITI reports.
Senator Abdul Ningi reportedly called for sanctions after expressing concern about a letter from Network E&P Nigeria Limited.
The company had reportedly argued that it was accountable to the Nigerian Upstream Petroleum Regulatory Commission, rather than the Senate committee.
Ningi, however, maintained that the National Assembly has constitutional powers to summon individuals, organisations and government agencies to provide explanations concerning matters under investigation.
He referred to Sections 88 and 89 of the 1999 Constitution as the basis for the legislature’s investigative powers.
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Other senators supported the position, with Senator Shehu Kaka Lawan urging the committee to exercise its constitutional authority against companies that failed to respond to its invitations.
Consequently, Network E&P’s managing director was directed to appear before the committee on Thursday.
Similar instructions were issued to the managing directors of All Grace Energy Limited, Aradel Energy Limited and Seplat Energy after the committee noted that representatives of the companies had not appeared before it.
The development highlights the Senate’s ongoing scrutiny of Nigeria’s oil and gas sector and the financial obligations of companies operating within the industry.
NEITI reports are designed to promote transparency and accountability in Nigeria’s extractive industries by examining revenues, payments and other transactions involving the sector.
The Senate committee’s intervention is therefore expected to provide an opportunity for the affected companies to explain issues raised in the audit reports.
The 48-hour deadline places pressure on the companies to respond promptly or face possible legislative action.
The committee has made it clear that companies operating in Nigeria’s extractive sector are expected to cooperate with constitutional oversight processes.
The development is likely to attract further attention as the companies respond to the queries and lawmakers determine whether their explanations adequately address the concerns contained in the NEITI reports.