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Reps Issue Two Weeks Ultimatum For Oil Companies To Pay N5.5m Accrued To Federation Account

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By Gloria Ikibah
The Hosue of Representatives Committee on Public Accounts has given two weeks ultimatum to three major oil companies to pay the sum of $5,543,491.45 million to federation account.
The companies are Chorus Energy, Dubril Oil Company Limited, and Belema Oil, had admitted to owing the said amount.
This admission came during a probe by the Committee, caused by the Auditor General’s report.
The committee received detailed testimonies from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), presented by Balarabe Haruna, which outlined the outstanding debts of the companies.
According to NUPRC, the debts are as follows: Chorus Energy owes a total of $814,680.06 and N181,954,238.43, comprising $396,907.76 for crude oil by price and $417,772.13 for crude oil by production.
Dubri Oil owes $3,025,193.71, which includes $646,605.55 for crude oil by production and $2,378,588.15 for gas flare.
Eroton Exploration & Production owes $78,486,333.27, made up of $45,094,125.31 for crude oil by production, $33,392,207.96 for gas flare, and $916,027.00 for concession rentals.
Belema Oil owes $1,703,617.68, including $977,793.54 for crude oil by price, $511,870.14 for gas flare, and $213,954.00 for concession rentals.
In response, the Chief Financial Officer of Chorus Energy, Oluseyi Simon, explained that the company’s debt arose after an increase in the crude oil price rate from 0.5% to $3.5.
He noted that the company has consistently paid its liabilities and had already paid $5.3 million in 2024.
Simon further assured the committee that the remaining balance would be cleared before the end of the month.
Meanwhile, Acting Managing Director of Dubri Oil, Mr. Clement acknowledged the debt, but said that the company’s financial difficulties stemmed from a decline in production during the first quarter of 2024.
He emphasised that the company had been trying to mitigate the situation through workovers on its wells, but the efforts were unsuccessful.
However, Clement assured the committee that Dubri Oil planned to begin drilling new wells would settle the outstanding debt as production increased, .
He further revealed that Dubri Oil had been in discussions with the Economic and Financial Crimes Commission (EFCC) and had agreed to a payment schedule, with an expected resolution by the third quarter of 2025.
Belema Oil also confirmed the debt, citing operational challenges as the cause of the indebtedness.
According to the Managing Director, Ahmad Sambk, Belema Oil had been unable to meet its production targets since August 2022 due to issues with the evacuation pipeline system, which had experienced significant leakages, leading to the loss of nearly 5 million barrels of crude oil.
These challenges he said had resulted in a complete shutdown of operations, preventing the company from fulfilling its financial obligations.
Chairman of the investigation sub-committee, Rep. Akinlade Isaq, expressed displeasure over the failure of oil companies to meet their financial obligations and stressed the urgency of retrieving the owed funds.
“Paying off these outstanding debts is not just a matter of financial responsibility, it is a critical step toward improving governance in Nigeria,” Isaq stated.
The committee then unanimously gave the oil companies a strict two-week ultimatum to settle their debts.
The committee also issued a warning to any oil companies that failed to respond to invitations for hearings, stressing that non-compliance would lead to severe repercussions.
In addition to the aforementioned companies, the committee also disclosed the indebtedness of other oil operators that failed to appear today as follows;
“For Conoil Producing, the company owes $3,884,308.56 for crude oil by production and $708,600.06 for Gas flare and $475,785.40, bringing the total to $4,592,908.62.
Continental Oil has a total debt of $57,053,842.22, which includes $44,519,936.05 for crude oil by production, $12,533,906.17 for gas flare and $250,650.00 for concession rentals.
Enageed Resources owes a total of $15,001,089.91, consisting of $11,647,300.01 for crude oil by production, $3,353,789.90 for gas flare and $469,552.00 for concession rentals.
Energia limited owes a total of $19,260,982.13, made up of $6,675,524.25 for crude oil by price, $9,768,926.81 for crude oil by production,$10,208.89 for gas sales, $2,806,322.19 for Gas flare and $305,995.40 for concession rentals.

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Mbah mourns ,says Christian Chukwu was a ‘football icon’

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By Kayode Sanni-Arewa

Enugu Governor Peter Mbah has expressed deep grief over the passing away of former Super Eagles skipper and coach, Christian Chukwu, describing him as a football icon, titan, and phenomenon.

Reacting to the development on Saturday Mbah said: “I received with a deep sense of loss the passing away of Chairman Christian Chukwu. It is a personal loss to us as Ndi Enugu, his home state, and indeed to Nigeria as a nation and Africa as a continent.

“Christian Chukwu was a national icon, a football titan, field marshal, and phenomenon. His exploits as a footballer united the country across ethnic divides and creed.

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He was patriotism personified, serving the nation and Africa unreservedly both as a player and coach of the highly successful Rangers International Football Club of Enugu and Super Eagles of Nigeria, which he captained to victory as Green Eagles at the 1980 Africa Cup of Nations, AFCON. He also coached the Harambee Stars, Kenya’s senior male national team, among others.

“Chairman, as he was fondly called, gave his all not only to the nation but to the rest of Africa. He wrote his name in gold in the annals of the history of Nigerian and African football.

Our dear legend has gone the way of all mortals, but the fond memories and the pride he gave Ndi Igbo and Nigeria as a whole will be cherished forever.

“My heart goes out to his family, Ndi Enugu, the Nigerian sports community and the entire nation over this irreplaceable loss. May the good Lord grant his soul eternal repose.”

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Just in: Boko Haram IED Blast Kills Seven Along Maiduguri-Damboa Road

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By Kayode Sanni-Arewa

No fewer than seven people lost their lives on Saturday following the detonation of an Improvised Explosive Device (IED) planted by Boko Haram terrorists in Borno State.

The deadly incident occurred along the Maiduguri-Damboa Road, a notorious route that cuts through the Sambisa Forest—an area long plagued by insurgent activities.

The victims were part of a convoy of vehicles being escorted by the military from Damboa to Maiduguri.

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According to eyewitness accounts and local sources, the explosion struck as the convoy—organized to provide safe passage through the volatile region—was underway. Several other passengers sustained varying degrees of injuries and were rushed to a hospital in Maiduguri for urgent treatment.

The Maiduguri-Damboa Road serves as a vital link between the state capital and several local government areas in southern Borno, including Chibok and Gwoza.

For years, the route remained closed to civilian traffic due to persistent terrorist threats. However, under the administration of Governor Babagana Zulum, the road was reopened, with military escorts deployed to accompany travelers twice weekly after clearing the area for explosives.

Saturday’s attack raises fresh concerns about the safety of the corridor, despite consistent military presence. The blast also comes just days after Governor Zulum publicly raised alarm over renewed Boko Haram activity in the state, highlighting the persistent threat the group poses to peace and development in the region.

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Authorities are yet to release an official statement on the incident, while investigations and security operations in the area continue.

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Insecurity: Criminals Cart Away NSA Ribadu’s Office Hilux During Juma’at Prayer In Abuja

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By Kayode Sanni-Arewa

The Federal Capital Territory (FCT) Police Command has initiated a search following the theft of a black Toyota Hilux vehicle belonging to the Office of the National Security Adviser (ONSA), Nuhu Ribadu, which was stolen during Friday’s Juma’at prayers in Abuja.

It was gathered that the vehicle was parked around 1:05pm opposite the Abuja Municipal Area Council (AMAC) complex in Area 10, while the official attended prayers at a nearby mosque.

Security source, Zagazola Makama, disclosed the incident via his X (formerly Twitter) handle, revealing that the ONSA official returned from the mosque only to find the vehicle missing.

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According to him, a sources said the theft was immediately reported to the Garki Police Division at approximately 2:00 p.m., leading to a swift response by law enforcement.

Meanwhile, the FCT Police Command promptly activated a stop-and-search operation at various checkpoints and across all entry and exit points in the capital city.

Police authorities confirmed that investigations are ongoing and all efforts are being made to apprehend the culprits and recover the vehicle.

The Command said it had intensified efforts to track down the fleeing suspects and recover the stolen Hilux.

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