The Public Accounts Committee of the House of Representatives says it has recovered an additional $14.2 million, representing N21.4 billion from four oil and gas companies.
The committee says the feat was recorded during its ongoing investigation into financial discrepancies in the sector.
The committee, on March 16, 2025, announced recoveries amounting to $19.24 million, which is about ₦28.7 billion.
The latest recovery brings the total so far to $33.4 million that is about ₦50.1 billion.
The Committee gives the breakdown of the latest recoveries as follows:
– Platform Petroleum Ltd: $1.9 million (N2.9 billion)
– Midwestern Oil and Gas Ltd: $1.578 million (N2.3 billion)
– Universal Energy: $523,845 (N785.7 million)
– Aradel Energy Ltd: $10.3 million (N15.5 billion)
Chairman of PAC, Bamidele Salam, credited the successes recorded to the unwavering support and leadership’s commitment to legislative oversight and accountability.
