Post by Arise News (@arisenews)

The Senate has announced a far-reaching investigation into Nigeria’s oil and gas sector, with public hearings set to begin on August 3. The probe will examine revenues, remittances, statutory obligations and operational activities based on NEITI’s 2021–2023 audit reports. NNPCL, the CBN, regulators, government agencies and major international and indigenous oil companies have been summoned to explain issues relating to financial compliance and revenue accountability. Lawmakers say the exercise is aimed at strengthening transparency, ensuring compliance with existing laws and safeguarding revenues due to the federation. The hearings are expected to shape ongoing efforts to improve accountability in Nigeria’s most strategic economic sector.

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