Nembe Exploration and Production Company Limited has pushed back against recent media reports about funds recovered by the Economic and Financial Crimes Commission, saying the money represents unpaid pipeline transportation fees owed to its joint venture with the Nigerian National Petroleum Company Limited rather than debts incurred by Nembe itself. The company, which changed its corporate name in the second quarter of 2025, operates the Nembe Creek Trunkline on behalf of the JV and provided crude oil transportation services to third-party operators, including Newcross Exploration and Production Limited, according to a statement the company made available.
The accumulated debts arose over several years as the Nigerian oil and gas sector grappled with severe operational challenges, including widespread crude oil theft, pipeline vandalism, insecurity and disruptions linked to the COVID-19 pandemic. These pressures made volume reconciliations increasingly difficult and led to mounting unpaid transportation charges. Before the EFCC became involved, Nembe said it had made repeated attempts through direct correspondence and engagements to recover the debts from pipeline users on behalf of the JV.
The company stressed that it was the operating entity responsible for pursuing the payments on behalf of the JV, not a party that had defaulted on its obligations. Nembe suggested that changes in EFCC leadership over time may have contributed to public misunderstandings about the roles of different parties involved. It reiterated that it holds no debt to the JV concerning the transportation fees.
In a separate matter, Nembe addressed stamp duty issues arising from the historic acquisition of Oil Mining Lease 29 and the NCTL. The company said this matter remains under an ongoing reconciliation process with relevant statutory authorities and is entirely distinct from the recovery of pipeline transportation fees.
For businesses operating in Nigeria's oil and gas sector, the clarification highlights the distinction between operational debts owed by service providers and liabilities of asset operators, which can affect how companies are viewed by regulators and creditors.