Nigeria’s House of Representatives has launched an investigation into alleged non-declaration and non-remittance of proceeds from Liquefied Natural Gas equity sales by the Nigerian National Petroleum Company Limited. The decision followed a motion by Nnamdi Ezechi, representing Ndokwa East/West and Ukwuani in Delta State, who raised concerns over opaque financial dealings involving NNPC LNG Limited — a subsidiary incorporated in the Cayman Islands in 2012.
Ezechi alleged that revenues from Equity LNG sales may have been deducted without due approval or remitted to the government, suggesting possible diversion of funds and revenue losses.
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Following deliberations, the House directed its relevant committees to investigate the transactions and present recommendations aimed at ensuring transparency and accountability in Nigeria’s LNG revenue management.
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