The House of Representatives has charged the Federal Government to recover about N2.6 trillion allegedly owed by 77 oil and gas companies operating in that country.
The House equally set up an Ad Hoc committee to reconcile what the federal government and oil companies owe each other as joint venture cash calls.
Additionally, 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 then instructed the Nigeria Extractive Industries Transparency Initiative (NEITI), the National Oil Spill Detection and Response Agency (NOSDRA), and the Federal Inland Revenue Service (FIRS) to present the data needed to facilitate the recovery of the debts from the oil firms.
The requests were made during debates on two separate motions on notice by Ahmed Munir and. Ibrahim Isiaka.
