The House of Representatives in Nigeria is planning to recover over $30 billion in fees and bonuses from multinational oil companies that have merged in the country. The regulatory agencies have failed to track the financial proceeds from these transactions, which has raised concerns. The oil industry has witnessed several mergers, buyouts, and takeovers in the past. The Petroleum Act of 2014 states that oil licenses can only be granted to Nigerian citizens or companies incorporated in Nigeria. However, some mergers have resulted in the formation of corporate bodies that are not indigenous to Nigeria. For example, the merger between Gulf and Chevron in 1984 brought Chevron into the country without proper approval, resulting in a loss of over $65 million. Other mergers, such as Exxon and Mobil, Elf, Total and Fina, and Chevron and Texaco, have also bypassed certain processes and obligations in Nigeria. These mergers have led to the layoff of Nigerian professionals and have cost the country billions of dollars in revenue. The House of Representatives has referred this matter to the joint Committees on Finance, Public Assets, Justice, and Petroleum Resources for further action.