House of representatives set to recover $9b gas flaring fines.
Written by AIGBOKHAEBHO OKHUELEIGBE on July 25, 2023
Nigeria’s House of Representatives Adhoc Committee on Gas Flaring is expected to meet the Chief Executive Officers of 19 oil and gas companies operating in Nigeria this Tuesday.
Chairman of the adhoc Committee, Ahmed Mohammed Munir summoned the oil and gas companies following a revelation by the Revenue Mobilisation Allocation and Fiscal Commission that 44 companies had shortchanged the Federal Government to the tune of about 277 million dollars in gas flaring between 2020 and 2022.
The adhoc committee after taking presentations from various MDAs at its inaugural sitting, vowed to recover the over 9 billion dollars gas flaring fines imposed by the federal government on erring local and foreign companies operating in the oil and gas sector.
The committee chairman promised to ensure that the affected companies account for their lapses.