Rising Tension in Oil Sector as Citizens Group Slams Reps Over Repeated NNPC Investigations
The Forum for Energy Accountability has raised a sharp warning over what it sees as a flood of overlapping investigations into the Nigerian National Petroleum Company Limited.
The group believes the mounting pressure from different committees of the House of Representatives is creating a tense and uncertain climate for the country’s oil and gas sector, especially at a time when Nigeria is struggling to attract new investment.
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Growing concern over “regulatory siege”
In a statement issued on Friday, the group’s president, Comrade Ebikeme Jonathan-Ogula, said the pace and volume of recent inquiries have gone far beyond normal oversight.
He described the situation as an “atmosphere of regulatory siege” around the state-owned energy company. According to him, while the legislature has a clear constitutional mandate to check public institutions, the widening scope of the probes is starting to feel disruptive rather than constructive.
He explained that accountability should serve clarity and reform but warned that it loses its purpose when it begins to resemble constant pressure on an institution already adjusting to industry-wide changes.
Investor confidence on the line
The group stressed that Nigeria’s petroleum sector is still coping with major transitions shaped by the Petroleum Industry Act, global energy trends, and ongoing economic reforms.
With foreign exchange pressures and the need for fresh capital inflows, the sector relies heavily on investor confidence. Constant summons, the group said, can easily be misinterpreted as signs of instability.
Jonathan-Ogula noted that investors already face security challenges in producing areas, frequent policy changes, and heavy infrastructure demands.
Adding a new layer of uncertainty through repetitive legislative actions, he warned, could push capital elsewhere.
Overlapping investigations and public confusion
The Forum pointed to several committees reportedly launching separate probes into issues such as crude sales, joint venture management, frontier basin activities, external borrowing, and internal corporate processes.
The group argued that these overlaps do little to strengthen transparency. Instead, they create confusion among the public and international partners who may interpret the situation as evidence of deeper institutional problems.
According to the statement, many of the matters under scrutiny are already covered by ongoing audits and statutory submissions.
Forcing NNPC officials to respond to multiple committees at once, the group added, distracts the company from its responsibilities, which include stabilising supply chains, expanding gas development, and supporting efforts toward domestic refining.
Call for more coordinated oversight
Jonathan-Ogula urged the House leadership to streamline its oversight methods by merging related investigations and setting clear timelines.
He also encouraged better alignment with regulatory agencies like the NUPRC and the NMDPRA, noting that unnecessary duplication can clash with ongoing reviews and approved industry work plans.
The group emphasised that Nigeria needs predictable oversight systems to maintain credibility during reforms aimed at improving revenue, advancing energy transition goals, and attracting long-term investments.
Striking a balance between scrutiny and stability
Concluding the statement, the Forum appealed to the House of Representatives to adopt a more strategic and evidence-driven approach.
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It warned that mixed signals could sabotage Nigeria’s broader economic reform agenda.
The group said the sector needs stability, clarity, and consistency if the country hopes to mobilize the level of capital required for growth.
NNPC shatters 36-year barrier with record 355,000bpd output
Legit.ng earlier reported that Nigeria’s upstream sector received a major boost on December 1, 2025, when NNPC E&P Limited (NEPL), the upstream arm of NNPC Limited, reached a record-breaking 355,000 barrels of oil per day.
It marks the company’s highest daily output since 1989 and signals a powerful turnaround for the country’s energy industry.
The achievement stands as a landmark moment for NEPL, reflecting years of internal reforms focused on discipline, efficiency and smarter operational delivery.
Source: Legit.ng
