News
Senate Begins Oil Sector Probe, Summons NNPCL, CBN, Major IOCs
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2026/07/Senate-1000x600.jpg&description=Senate Begins Oil Sector Probe, Summons NNPCL, CBN, Major IOCs', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2026/07/Senate-1000x600.jpg&description=Senate Begins Oil Sector Probe, Summons NNPCL, CBN, Major IOCs', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The Senate has initiated a far-reaching investigation into Nigeria’s oil and gas industry, summoning the Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN), key regulatory agencies, and more than 60 multinational and indigenous oil companies to respond to issues arising from the Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Industry Audit Reports for 2021, 2022, and 2023.
The investigation, to be conducted by the Senate Committee on Public Accounts chaired by Senator Ibrahim Hassan Dankwambo, will examine revenue leakages, statutory remittances, royalties, taxes, and compliance with financial obligations across the extractive sector.
In a statement, the committee said the public hearing is conducted pursuant to Sections 88, 89, and 85(5) of the 1999 Constitution (as amended), the NEITI Act, and Order 95(5)(d) of the Senate Standing Orders, 2026.
According to the committee, the hearings will assess the level of compliance by Ministries, Departments and Agencies (MDAs), government-owned enterprises, regulatory bodies, and oil companies with the Constitution, the NEITI Act, the Fiscal Responsibility Act, Financial Regulations, and other applicable laws governing the extractive industry.
The exercise is aimed at strengthening transparency, improving revenue assurance, enhancing institutional accountability, and ensuring full remittance of all revenues due to the Federation.
The hearings are scheduled to commence on August 3 at the National Assembly Complex, Abuja, with appearances expected from NEITI, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Central Bank of Nigeria (CBN), and the Niger Delta Development Commission (NDDC).
Also invited are the Office of the National Security Adviser, the Nigerian Investment Promotion Commission (NIPC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the Office of the Accountant-General of the Federation, the Office of the Auditor-General for the Federation, the Ministry of Petroleum Resources, the Federal Ministry of Finance, and the Federation Account Allocation Committee (FAAC).
The committee has also summoned the Nigerian National Petroleum Company Limited (NNPCL) alongside major oil producers, including Seplat Energy, Aradel Energy, Famfa Oil, TotalEnergies EP Nigeria, Oando, Chevron Nigeria, Shell Nigeria Exploration and Production Company, Mobil Producing Nigeria Unlimited, CNOOC Exploration and Production Nigeria Limited, Aiteo Eastern E&P, and several other operators.
The Senate directed all invited organisations to appear through their chief accounting officers, accompanied by relevant technical personnel and all documentation relating to issues raised in the audit reports, warning that requests for postponement will only be considered under exceptional circumstances.
The committee also invited memoranda from civil society organisations, host communities, professional bodies, development partners, and industry experts to support the investigation.
Lawmakers stated that the exercise is expected to address longstanding concerns over revenue leakages, under-remittances, and compliance with statutory financial obligations in the oil and gas sector. Its outcome is expected to inform future legislative reforms and strengthen governance within Nigeria’s extractive industry.
With nearly all major regulators, revenue agencies, and leading oil producers scheduled to appear, the Senate’s initiative represents one of the most comprehensive parliamentary reviews of the petroleum sector in recent years, underscoring lawmakers’ resolve to ensure full accountability of revenues due to the Federation.
News
Human Trafficking: Remi Tinubu calls for vigilance, support for survivors
The First Lady, Oluremi Tinubu, on Thursday called on Nigerians to be more vigilant in the protection of vulnerable persons from human trafficking and traffickers.
Tinubu, in a statement she personally signed as part of the celebration of the “World Day Against Trafficking in Persons”, appealed to the global community to strengthen commitment to ending human trafficking in all its forms and protecting the dignity, freedom, and rights of every individual.
She noted that this year’s theme, “Trapped Behind the Scam,” draws attention to the growing threat of human trafficking.
Human trafficking now forms part of modern-day slavery, which is usually perpetrated through online scams, forced criminality, and transnational organised crime.
According to her, the theme also highlights the need to increase public awareness, prevention, enforcement of our laws, and support for survivors.
“Let us remain vigilant, protect the vulnerable, and ensure that no one falls victim to exploitation. Through collective action, we can build a safer society where every person can live in freedom, dignity, and hope.
“We say “No” to human trafficking today”
Also as part of the International Day of Friendship, the First Lady also drew global attention to the power of friendship to unite people, strengthen communities, foster peace, understanding, and mutual respect.
She noted that no matter how far technology advances, man was never created to be alone, adding that ” As we become more connected digitally, human isolation is increasing by the day. We are emotional beings, and we should never underestimate the power of genuine human connection.
“Friendship reminds us to be our brother’s keeper, to show kindness, and to reject unhealthy behaviours that divide us. A simple act of kindness can heal a broken heart and help in making our world a better place”.
She therefore charged Nigerians to ” Go out there, give someone a smile, reach out with compassion, and be a friend”.
News
Oriire: Makinde sets up judicial panel to probe children, teachers’ abduction
Governor Seyi Makinde of Oyo State has set up a Judicial Commission of Inquiry to investigate the abduction of pupils and teachers from Esinele and Yawota communities in Oriire Local Government Area.
Dotun Oyelade, the Commissioner for Information and Civic Orientation, made this known in a statement on Thursday in Ibadan.
Mr Oyelade said that the commission was expected to determine the circumstances surrounding the abduction and identify the factors that led to the security breach.
He said that the panel, which would be inaugurated on Friday, was also tasked with making recommendations to prevent a recurrence.
“The commission will examine the events leading to the kidnapping, assess the response of relevant authorities, and recommend measures to improve security and safeguard schools and communities across the state,” Mr Oyelade said.
He further explained that the setting up of the panel was in line with the governor’s commitment to ensuring a thorough and independent investigation into the incident.
The abduction occurred on May 15, while the abducted pupils and teachers were rescued after 56 days in captivity.
(NAN)
News
‘Security threats record sixfold rise in Nigeria, others in two years’
The United States has warned that Nigeria and other African countries are facing a more than sixfold rise in security threats in the last two years, citing a dramatic surge in illegal narcotics trafficking and human trafficking on the continent.
This is even as it listed Nigeria, Kenya and Côte d’Ivoire as key partners for its new technical assistance programme for bankable infrastructure in Africa, which would help the countries develop projects that attract U.S. participation.
Brigadier General Paul G. Filcek, Director of Logistics at U.S. AFRICOM, disclosed this during a digital press conference with African journalists on the ongoing 2026 Africa Logistics and Communications Symposium, co-hosted with the Ethiopian Ministry of Defence.
The 4-day symposium brought together delegates from 39 African nations and 27 private-sector partners under the theme “Forging Partnerships, Driving Innovation, and Enhancing Collective Readiness”.
“Across the African continent, we face growing and converging threats on our mutual security, safety and prosperity, human trafficking and a dramatic rise in illegal narcotics trafficking, now more than six times what it was just two years ago,” Gen. Filcek said.
He stressed that defeating the threats would require cooperation, coordination, reliable and effective communications as well as the ability to move personnel, equipment and supplies quickly across difficult terrain, often over great distances and challenging conditions.
For the first time, the symposium deliberately combined logistics and communications into a single conference, which Flicek described as a decisive edge in modern military operations.
Also speaking, U.S. Deputy Assistant Secretary of Commerce for Middle East and Africa, Mark Mitchell, disclosed that the Departments of Commerce and State were working together on a project termed Technical Assistance for Bankable Infrastructure in Africa that supports African governments to develop bankable projects that can attract U.S. participation and deliver local value. “It’s a model designed to empower African partners rather than create dependency,” he said.
He cited U.S. investment partnerships with Nigeria, Kenya and Cote d’Ivoire as examples of Washington’s commitment to open, competitive and transparent markets that protect sovereignty and unlock innovation.
“Our work on commercial diplomacy, data governance and investment partnerships with countries such as Kenya, Nigeria and Cote d’Ivoire reflect a commitment to fair regulatory environments that unlock innovation and protect sovereignty,” he said.
On what sets the U.S. apart from other global partners, Mitchell said Washington brings high-quality finance, trusted standards, risk mitigation tools that help move projects from concept to bankable reality.
He added that the U.S. partnership was rooted in long-term, enterprise-driven, not one-off transactions, with U.S. companies bringing world-class technology in logistics and communications that could help African nations build the security and stability needed for growth.
Mitchell also highlighted the Strategic Infrastructure Investment Working Group launched earlier this year by the U.S. State Department and the African Union, adding that the Department of Commerce was well-positioned to support it.
Addressing questions on technology, Mitchell said Artificial Intelligence could transform African logistics through route optimisation, predictive fleet maintenance and faster customs processing.
He stressed that real AI sovereignty for African countries means “owning and using best-in-class technology for the benefit of your people and nation,” rather than trying to build entire systems in isolation.
“Keep your data yours. American companies can build large, independent AI infrastructure with secure and robust supply chains that minimise backdoor risk, plus cryptographically protect confidentiality, and world-leading security to keep sensitive logistics and trade data within your borders and under your control,” he said.
Gen. Filcek said U.S. AFRICOM was assessing partner readiness through its A3I programme, which provides targeted military engagement to address urgent operational needs and expand capacity for independence and regional interoperability.
“The most significant advances will come through the acceleration of modular expeditionary capabilities… Investments in local supply chains, infrastructure and secure trade corridors will provide the most profound impact,” he added.
-
News21 hours agoVideo: New FCT CBD Bus terminal set to begin operations in September
-
News15 hours agoPhotos: Over 10 Houses Swallowed By Erosion, Scores Dislodged In Bende, Abia State, as Deputy Speaker, Ecological Funds Officials Assess Sites
-
News20 hours agoEurope on fire: Over 300,000 dislocated from their homes
-
News15 hours agoVideo: Six months from now Abuja residents can now link Lugbe from Nile varsity
-
News14 hours agoVarsity don slams Alaafin over three-hour delay, lack of apology at event
-
News17 hours agoDeregistration order: Judge Lifu’s conduct is a serious breach of judicial hierarchy-ADC Legal Adviser, Osunbor
-
News15 hours agoKaduna Attack: How I pleaded with my slain dad to flee but he refused – Survivor narrates ordeal
-
News16 hours agoSad: Ex-Nigerian Finance Minister, Ex-High Commissioner To UK, Alhaji Abubakar Alhaji Dies
