The Senate will begin a 23-day investigative hearing into Nigeria’s oil and gas sector from August 3, as part of efforts to recover revenues, improve transparency and strengthen accountability in the extractive industry.
The investigation, to be conducted by the Senate Committee on Public Accounts, will examine issues arising from the Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Industry Audit Reports for 2021, 2022 and 2023.
Chairman of the committee, Senator Ibrahim Hassan Dankwambo, said the exercise would scrutinise revenues, remittances, statutory obligations and operational activities across the petroleum sector.
The probe is backed by Sections 88, 89 and 85(5) of the Constitution, the NEITI Act and the Senate Standing Orders. Among those summoned are the Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigeria Revenue Service, Office of the Accountant-General of the Federation, Office of the Auditor-General, the Ministry of Petroleum Resources and over 60 ministries, departments, agencies and oil companies.
Major indigenous and international oil companies expected to appear include Seplat Energy, Aradel Energy, Famfa Oil, TotalEnergies EP Nigeria, Oando, Chevron Nigeria, CNOOC Exploration and Production Nigeria Limited, Conoil Producing, Mobil Producing Nigeria Unlimited, Esso Exploration and Production, Shell Nigeria Exploration and Production Company, Aiteo Eastern E&P, Midwestern Oil and Gas, Pan Ocean, ND Western, Platform Petroleum and Neconde Energy.
The committee directed all organisations to appear with their chief accounting officers and relevant technical officials, warning that requests for postponement would only be granted under exceptional circumstances.
According to the Senate, the hearings will assess compliance with constitutional provisions, the NEITI Act, the Fiscal Responsibility Act and other financial regulations governing the extractive sector.
The lawmakers will also examine issues relating to revenue leakages, remittances and statutory financial obligations, with a view to recommending legislative reforms to improve governance and revenue generation in the petroleum industry.
Civil society organisations, host communities, professional bodies, development partners and industry experts have also been invited to submit memoranda to support the investigation.
The Senate said the exercise represents one of the most comprehensive parliamentary reviews of Nigeria’s petroleum sector in recent years.
Tinubu Dissolves Presidential Implementation Committee on Federal Properties
President Bola Tinubu has approved the dissolution of the Presidential Implementation Committee (PIC) on the Alienation of Federal Government Properties and directed the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, to take over its responsibilities.
The President also warned Bello Suleiman Dutsin-Ma to stop presenting himself as Secretary of the dissolved committee.
The directive was contained in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
According to the statement, the committee was dissolved with effect from November 5, 2025, and all matters relating to its activities will henceforth be handled by the Attorney-General.
The Presidential Implementation Committee was established during the administration of former President Olusegun Obasanjo to oversee the privatisation, sale and lease of Federal Government landed assets under the monetisation policy.
Its membership included representatives of several ministries, the Nigeria Police Force and both public and private sector stakeholders.
The Presidency explained that the committee had exceeded its original mandate, leading to multiple litigations across the country, making its continued existence unnecessary.
President Tinubu consequently directed that Dutsin-Ma should immediately cease acting on behalf of the dissolved committee or the Federal Government on matters relating to its activities.
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