Falana Demands Akpabio Recover $123bn in Oil Revenue

Femi Falana, a renowned human rights lawyer, has given Senate President Godswill Akpabio a 14-day deadline to recover $123.17 billion and N66.4 billion allegedly owed to the Federal Government by Nigerian National Petroleum Company Limited (NNPCL) and other oil and gas entities.

The demand was outlined in a letter dated October 28, 2026, which called on Akpabio to ensure the outstanding funds are returned to the Federation Account.

Falana highlighted that the alleged debts include unpaid oil royalties, proceeds from stolen crude oil, dividends from Nigeria LNG Limited, outstanding taxes, and funds used for refinery rehabilitation. He also noted $62 billion in unpaid royalties from international oil companies due to non-compliance with the Deep Offshore and Inland Basin Production Sharing Contracts Act.