Abuja, Nigeria – The House of Representatives has launched an investigation into alleged non-declaration and non-remittance of proceeds from Liquefied Natural Gas (LNG) sales by the Nigerian National Petroleum Company Limited (NNPCL).
Mover of the motion, Hon. Nnamdi Ezechi (Delta), accused NNPC LNG Limited, registered in the Cayman Islands, of opaque operations and potential revenue diversion.
Ezechi said equity LNG sales were conducted “without due approval or remittance,” costing Nigeria billions in lost income.
In a related motion, Hon. Cyril Hart (Rivers) urged a probe into oil companies failing to remit 3 percent of their annual operating expenses to host communities as required by the Petroleum Industry Act (2021).
The House directed its Committees on Gas and Host Communities to summon key officials and report back with findings.
“Non-compliance threatens development and fuels unrest in the Niger Delta,” Hart warned.
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