The House of Representatives has vowed to ensure the recovery of

over 100 billion dollars unremitted oil revenue by oil companies to the Federal Government, as well as probe the abuse in the handling of fuel subsidy regime

The Chairman, House Committee PetroleumDownstream), Ikenga Ugochinyere, disclosed this at the inaugural meeting of the committee, on Friday. Ugochinyere said the committee will also probe alleged non-remittance of about 20 billion dollars royalties to the government by oil and gas companies.

The lawmaker, while expressing concern that the Federal Government was losing revenue from various loopholes, said his committee will work towards blocking every loophole, as well as recovery of unremitted revenue.

Ugochinyere said  the Committee on Petroleum Resources (Downstream) of the 10th House of Representatives is going to be a Committee with the interest of the people at heart and a Committee that will put the interest of the nation forward in all its consideration.(Daily Sun)