Nigeria Govt Gives Oil Firms Two Weeks to Pay Royalties

The House of Representatives Committee on Oil and Gas on Thursday gave 10 indigenous oil companies in the country two weeks to remit 250 million dollars oil royalty to federal government's coffers.

Jerigbe Agom, the chairman of the committee, gave the ultimatum at the ongoing sitting over unremitted funds in the industry.

According to the chairman, Nigeria can no longer condone unbecoming acts of the operators which are capable of strangulating the nation's oil and gas industry.

He said the companies were Aiteo Group, Dubri Oil Limited, Atlas Energy, Frontier Oil Ltd., Oriental Energy Limited, Express Petroleum, WalterSmith Oil Limited and Neconde Group.

Mr. Agom said the committee would have no choice than to wield the big stick on the companies that refuse to meet the deadline as part of its mandate to ensure sanity in the nation's oil and gas industry.

Meanwhile, members of the committee said the Department of Petroleu