The House of Representatives has confirmed that Seplat Production Development Limited and Chorus Energy Limited have paid a total of N28.7 billion to Nigeria’s Federation Account as part of efforts to clear their outstanding liabilities to the nation.
This disclosure was made by the House’s Public Accounts Committee (PAC) in a statement signed by Rep. Akin Rotimi Jr, the House’s spokesman. The report detailed that Chorus Energy Limited settled its outstanding liability with a payment of $847,623 (N1.2 billion) on March 11, 2025. Similarly, Seplat Production Development Limited remitted $18.39 million (N27.6 billion) between March 10 and March 14, 2025, fully discharging its financial obligations.
The House hailed this development as a major step in the ongoing efforts to recover outstanding revenues from oil companies operating in the country. An earlier report by Nairametrics indicated that the PAC’s investigation was prompted by findings from the 2021 Audit Report, which revealed that 45 oil companies collectively owed Nigeria approximately $1.7 billion in outstanding liabilities.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been provided with evidence of these payments for verification. Shoreline Natural Resources Ltd. Also made a $30 million payment towards its $100.28 million debt before the investigation commenced and has requested a structured repayment plan for the remaining balance.
Additionally, Seplat Energy Producing Nigeria Unlimited, formerly known as Mobil Producing, was reported to hold a credit balance of $211,911.09 for crude oil royalties, $33.01 million for gas flare penalties, and $163,046.40 for concession rentals, with no outstanding liabilities.
The Committee commended Seplat Energy for complying with its financial obligations and reiterated its commitment to utilizing all legal means to recover outstanding debts from the remaining 38 oil companies under investigation.
Source: Nairametrics
