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Reps demand recovery of N2.6tr debt by oil firms
Dec. 2, 2021
Source: The Nation

Reps demand recovery of N2.6tr debt by oil firms

The House of Representatives yesterday asked the Federal Government to recover about N2.6 trillion allegedly owed it by 77 oil and gas companies operating in the country. The House also set up an Adhoc committee headed by its Deputy Chief Whip,. Nkiruka Onyejeocha, to reconcile what the federal government and oil companies owe each other as joint venture cash calls. Besides, it called for a proper inventory of the assets and liabilities of the Nigerian National Petroleum Corporation and its subsidies before their transfer to the newly incorporated NNPC Limited. The House, therefore, directed the Nigeria Extractive Industries Transparency Initiative (NEITI), the National Oil Spill Detection and Response Agency (NOSDRA), and the Federal Inland Revenue Service (FIRS) to provide the data needed to facilitate the recovery of the debts from the oil firms. The requests were made during debates on two separate motions

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