Showing posts with label fuel subsidy gist. Show all posts
Showing posts with label fuel subsidy gist. Show all posts

Fuel subsidy scam: We’ve enough evidence to nail suspects


The Economic and Financial Crimes Commission, EFCC, Monday, told Justice Olasumbo Goodluck of an Abuja High Court that it has gathered enough evidence to nail the trio of Helyn Aninye, Chizobam Ben-Okafor and Pon-Specialized Services Limited over their alleged involvement in the illegal diversion of about N1.4 billion through fuel subsidy scam.

The anti-graft agency is prosecuting the accused persons on an 18-count criminal charge bothering on forgery and obtaining money under false pretence.

Though EFCC made frantic moves to dock them, Monday, however, the plan was thwarted by their counsel, Chief Olisa Agbakoba, SAN, who opposed their arraignment on grounds that the proof of evidence did not disclose a prima facie case against his clients.

He said:“My lord, assuming there are offences to be disclosed, they have not in any way been linked to the applicants, and these links must have a prima facie elements to the applicants.”

It was his contention that in a case of forgery, the EFCC ought to have produced the original maker of the alleged forged document.

However, EFCC, through its counsel, Mr Steve Odiase, while seeking for leave to prefer criminal charges against the accused persons under Section 185 (b) of the Criminal Procedure Code, maintained that the proof of evidence contained enough prima facie evidence capable of nailing them to the fraud.

He told the court that the prosecution had formulated three issues for determination in granting the application which, according to him, included whether the proof of evidence discloses an offence known to law and whether there is a linking of the charge to the applicants.

“My lord, the statement of one (name withheld) of Quality Marine Services Limited is enough link to the accused persons. Besides, it has been established that in a case of forgery, the accused must not be the maker of the said document before being liable,” Odiase said.

The judge who advised counsel not to jump the gun by addressing issues in the substantive case, adjourned to February 21, 2013 for ruling on both applications.

The accused persons were said to have on or about March 3, 2011 atAbujawithin the jurisdiction of the High Court of theFederalCapitalTerritory,Abujawith intent to defraud, conspired to obtain N1.413,507,951.50 under false pretence from the Federal Government of Nigeria as subsidy for the importation Premium Motor Spirit under the Petroleum Support Fund.

The offence according to the charge sheet was contrary to Section 8(a) and punishable under Section 1 (3) of the Advance Fee Fraud and Other Related Offences Act. 2006.
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President Goodluck says subsidy protest was staged

 President Goodluck Jonathan has said that the January nationwide protest over the total removal of subsidy from petroleum was stage managed by a class of Nigerians who wanted the status quo of corruption in that sector to remain.

He said it was not carried out by ordinary Nigerians who wanted to communicate their grievances to their government.Jonathan, who spoke at the 52nd Independence anniversary lecture with the title, Nigeria: Security, Development and National Transformation, said it was the responsibility of Government to provide the enabling environment for development but it was left for the citizens to ensure enforcement.

Reacting to the issue of the January protest raised by one of the discussants and the Director of Centre for Democracy and Development, Dr. Jibril Ibrahim, President Jonathan said, “Let me touch on what Prof. Ibrahim said about the January subsidy protest, yes you said the citizens were right, in a way they may be right, in a way they were also misinformed. 

If you had followed the last Earth Summit in Brazil, about two countries came out to condemn the issue of subsidizing hydro carbon all over the world. They stated that subsiding hydro carbon does not bring development.“Look at the demonstrations back home, look at the areas this demonstrations are coming from, you begin to ask, are these the ordinary citizens that are demonstrating? Or are people pushing them to demonstrate.

“Take the case of Lagos, Lagos is the critical state in the nation’s economy, it controls about 53 per cent of the economy and all tribes are there. The demonstration in Lagos, people were given bottled water that people in my village don’t have access to, people were given expensive food that the ordinary people in Lagos cannot eat. So, even going to eat free alone attracts people. 

They go and hire the best musician to come and play and the best comedian to come and entertain; is that demonstration? Are you telling me that that is a demonstration from ordinary masses in Nigeria who want to communicate something to government?

“For me, if I see somebody is manipulating anything, I don’t listen to you, but when I see people genuinely talking about issues, I listen. I am hardly intimidated by anybody who wants to push any issue he has. I believe that that protest in Lagos was manipulated by a class in Lagos and was not from the ordinary people.

“Government everywhere must create environment for development and transformation, so I agree the lead must be the government but the people must be the implementator if we must transform our country”.Jonathan also alleged that because of interest in 2015 election, the media were being used to abuse the privileges of the Freedom of Information Act to the point of overheating the system.

“The key issue we are discussing is about peace and development and of course we all know that there is no way you can talk about development when you have a lot of crisis. In fact some people make more money when there is crisis and when there are crises it’s like a country in a state of emergency, anything goes.

“Crisis is one aspect but generally if there is no peace is extremely difficult for the ordinary people to survive though big players in economy may survive. Ordinary citizens having small and medium enterprises cannot come out to do business during crisis and of course it affects the economy. So you must have peace to develop.

“Peace is one of the cardinal marks of a leader. In the monarchy in the olden days, the king had maximum power, but for your kingdom to be stable, you must have the military strength. So without stability of any state we cannot develop.

“I agree totally with President Kufour who really gave us the breakdown of the kind of security situation that we have.“When you talk of insecurity of using bombs and guns to kill people, what has been described as physical security, but in terms of social security, food security, health and the justice system all have to do with the security of individual.

“But I believe what we face in Nigeria though not peculiar to us; one of our greatest problems is what I described as political security.“Government can continue to provide physical security but also very important is the political security. When you have unending political conflicts in Nigeria, the country cannot develop.

“I believe political security is a big issue. There is this axiom that the pen is mightier than the sword. The sword is used to kill and destroy, but what we use the pen to do is also very critical. When you have society with these unending political conflicts, it is there on the media whether print, electronic or social media, it brings a lot of insecurity to the system and sometimes people begin to doubt your government.

“For example, when we were contesting election, we promised it will be free and fair, I was convinced I must do that even if I will lose the election. After our election in 2007, even the presidents in our neighbouring West African states were finding it difficult to congratulate us because the observers felt the election was not properly done.

 That hounded us even when we travelled out and I promised myself that if I have the opportunity to preside over election, I will do something different even at my expense at least for the sake of the country. And we did that but unfortunately, even though there were crisis in some parts of the country, observers felt the election was reasonably free and fair compared to others. But immediately after that election, not quite six months, the kind of media hype that started hitting us made us to stop and ask where this coming from?

“I said, I did not just come out from the blues to contest the election, I was deputy governor for six and half years, I was a governor for one and half years, I was a vice president, and before election, I was the president up to April when the elections were conducted, people knew me. So, within this period, including when I even acted, if I was that bad, will people have voted for me? So for Nigerians to have voted for me overwhelmingly, that means there must have been something they were expecting and definitely six months would have been too short to pass any valid judgement. But the media condemned me.

“And I believe is not just the media, like when we talk about the Boko Haram, we have political Boko Haram, religious Boko Haram and criminal Boko Haram. So also in the media, you have the professional media and the political media. That is why I talk about the political media, because of the interest of 2015, whatever you do is immaterial, the government must be brought down. And that mentality cuts across most African countries and even outside Africa.

“So addressing insecurity is critical in developing African state. When you have this ending political conflict especially in a country like Nigeria that is highly religious and with high ethno-tribal sentiments, it becomes very potent to even create a lot of problems for government.

“So I will plead with us as Nigerians that whenever we elect government into power at whatever level, at least for the sake of the country, allow the government to work before going into unnecessary overheating the system.

“When you talk of providing infrastructure, whether power, water, there is nothing you can use the magic wand to provide for the people, it takes time. To build your personal house, there must take a good number of days not to talk of infrastructure like power in a country like Nigeria and with the challenges we have and so on and so forth.

“I believe our great problem is political conflict, for a typical politician, the day you win election is the day you start the next election.

“So as government, we are committed to creating the environment. I’m quite pleased with the way President Kufour spoke on the issue of transformation. I agree that the leader must be the key actor for transformation, but those who will implement are the citizens. For instance, during the election, we advocated one man one vote, we were totally committed and I said it that nobody should rig election for me.

 But Nigerians believed that we were sincere and because they knew we were sincere, that took the life of its own. No, I don’t need to go and preach again. We have monitored elections in Edo and other places, nobody wants to compromise with his vote. It’s government that created that environment, but it’s not government that will enforce it, it is the citizen.


“That is why we are a bit worried that sometimes when government create the environment, whether economic, social or even the media, but how the citizens use those privileges matters so much.

“Take the media environment for instance, we signed the Freedom of Information Bill into law, it became the Freedom of Information Act, but are we using it in the way we are suppose to use it? Are some of us not abusing the privileges? The media environment that should have helped our transformation agenda are being used negatively, these are some of the issues we need to address.

“The way Nigerians challenge and abuse me, yes the President has enormous power, but if you use that enormous power to some extent, you will look like a dictator. In a democratic setting, you want to create an environment where people can create their opinion and that is why people are allowed to talk freely and demonstrate. But are we doing so properly”.

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Subsidy Thieves: 'My Son Must Pay For His Crimes If Found Guilty'

“He is my son, never disowned. My son is an adult; I can assure you it is only the court of justice that will determine it. It is not justice by public opinion; it is justice by the court, that is it. 

As I have said, we must follow justice and whoever is found guilty will be so dealt.” National Chairman of the Peoples Democratic Party (PDP), Alhaji Bamanga Tukur, has said that the law should take its course in the trial of his son, Mahmud, for the alleged fuel subsidy mismanagement, stressing that if the court finds him guilty, he should face the music.

 Alhaji Tukur spoke at the State House in Abuja on Sunday, shortly after a visit of the Muslims community in the FCT, led by Vice-President Namadi Sambo to President Goodluck Jonathan. Answering questions from journalists, Tukur said his son was old enough to bear responsibilities for his actions. 

He, however, said that he is not bothered by the opinions and criticisms expressed on the issue by the public, but would wait for the outcome of the court decision. 

 The PDP Chairman’s son is facing trial with others for alleged involvement in fraudulent management of oil subsidy fund and defrauding the federal government of Billions of Naira.
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Revealed! Names Of Fuel Subsidy Thieves To Be Prosecuted

The Economic and Financial Crimes Commission, EFCC, is finally ready to prosecute the first batch of 20 suspects implicated in the oil subsidy fraud. The suspects, comprising oil companies and 11 individuals, will be docked in Lagos courts. Below are the names of the companies and individuals.... The companies involved in the scam are: Nasaman Oil Services; Eternal Oil and Gas Plc; Ontario Oil & Gas Plc; Nadabo Energy Limited; Pacific Silver Line Limited; Axenergy Limited; Fago Petroleum and Gas Limited. 

 The 11 individuals involved in the scam are: Mamman Nasir Ali; Christian Taylor; Mahmud Tukur; Ochonogor Alex; Walter Wagbatsoma; Adaoha Ugo-Ngadi; Fakuade Babafemi Ebenezer; Ezekiel Olaleye Ejidele; Abubakar Ali Peters; Jude Agube Abalaka, Abdulahi Alao and Oluwaseun Ogunbanbo. 

 This investigation is massive and extensive; and the EFCC wishes to reassure Nigerians that every effort will be made to bring all those who defrauded the country in the guise of subsidy for imported fuel to book. The 20 suspects are among the over 140 individuals and organisations involved in the on-going investigations into the subsidy payments by the EFCC. More suspects will be arraigned periodically as the investigation progresses. 

YOU CAN READ BRIEF DETAILS OF THEIR OFFENCES BELOW: 

Ezekiel Olaleye Ejidele is director of the accounting firm, Akintola Williams Deloitte while Fakuade Babafemi Ebenezer is a staff of the Petroleum Products Pricing and Regulating Agency, PPPRA. Nasaman Oil Services; Mamman Nasir and Christian Taylor are to face charges bordering on obtaining N4, 460, 130, 797. 94 (Four Billion, Four Hundred and Sixty Million, One Hundred and Thirty Thousand, Seven Hundred and Ninety Seven Naira, Ninety Four Kobo) from the Federal Government of Nigeria under false pretence. 

The sum is alleged to have been fraudulently obtained as subsidy payments from the Petroleum Support Fund for the purported importation of 30.5million litres of Premium Motor Spirit from SEATAC Petroleum Limited of British Virgin Islands. 

 In the same vein, the anti-graft agency will equally prosecute Abdulahi Alao and Axenergy Limited for allegedly obtaining the sum of N2, 640, 141, 707.75 (Two Billion, Six Hundred and Forty Million; One Hundred and Forty One Thousand; Seven Hundred and Seven Naira, Seventy Five Kobo) being payments received from the Petroleum Support Fund for the purported importation of 33.3 million litres of Premium Motor Spirit. 

 Others include Mahmud Tukur, Ochonogor Alex; Abdulahi Alao and Eternal Oil And Gas Plc who will be docked for fraudulently obtaining the sum of N1, 899, 238, 946. 02 (One Billion, Eight Hundred and Ninety Nine Million, Two Hundred and Thirty Eight Thousand, Nine Hundred and Forty Six Naira, Two Kobo) from the Petroleum support Fund for a purported importation of 80.3million litres of Premium Motor Spirit. 

 Also, Nadabo Energy Limited, Abubakar Ali Peters, Jude Agube Abalaka and Pacific Silver Line Limited are to be prosecuted for allegedly obtaining the sum of N1, 464, 961, 978.24 (One Billion, Four Hundred and Sixty Four Million, Nine Hundred and Sixty One Thousand, Nine Hundred and Seventy Eight Naira, Twenty- Four Kobo ), being payments fraudulently received from the Petroleum Support Fund for a purported importation of 19.4million litres of Premium Motor Spirit. 

 Walter Wagbatsoma; Adaoha Ugo -Ngadi; Fakuade Babafemi Ebenezer; Ezekiel Olaleye Ejidele and Ontario Oil & Gas Nigeria Limited will be arraigned for fraudulently obtaining the sum of N1, 959, 377, 542, .63 (One Billion, Nine Hundred and Fifty Nine Million, Three Hundred and Seventy Seven Thousand, Five Hundred and Forty Two Naira, Sixty Three Kobo) from the Petroleum Support Fund for a purported importation of 39.2 litres of Premium Motor Spirit. 

 Lastly, Fago Petroleum and Gas Limited and Oluwaseun Ogunbanbo are to be docked for fraudulently obtaining the sum of N979,653,110.20 ( Nine Hundred and Seventy Nine Million, Six Hundred and Fifty Three Thousand, One Hundred and Ten Thousand Naira, Twenty Eight Kobo), from the Petroleum Support Fund for a purported importation of 33, 627, 84 litres of Premium Motor Spirit. You might also like:
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FG deducts N304bn for subsidy in 2 months


The Federal Government is overdrawing subsidy deductions by N85 billion monthly since January, calculations from the Forum of Commissioners of Finance of Nigeria showed. Instead of the N74 billion monthly deductions provided for in the 2012 budget, the Federal Government has deducted a total of N304 billion from January to February, the Commissioners said in a memo sent to the Governors’ Forum.

If the trend continues, government is likely to spend N1.9 trillion on subsidy by the end of this year. In a memo to the governors’ signed by chairman of the Forum of Commissioners of Finance of Nigeria Eze R. Echesi, the commissioners said that in the three months between December 2011 and February 2012, the Federal Government had already deducted N477.233 billion from the states. 

The memo read: “If this trend continues for the next 12 months, this will amount to N1.909 Billion thereby making the 2011 figure a child’s play. “It is equally noteworthy that total subsidy deductions for the first two months of 2012 is N304.003 billion which amount is already higher than 2011 approved Federal budget of about N240 billion. “We have also been informed that the approved budget for 2012 fuel subsidy is N888 Billion and this translates to N74.000 billion monthly.

What is still not clear yet is whether this figure is meant to take care of both NNPC and PPPRA.” They said they had previously noted that subsidy deductions were far in excess of the 2011 Federal Government budget approval of about N1.2 trillion without any convincing justification, estimating that by the end of December 2011, Nigeria would have spent a whopping N1.5 trillion instead. 

The commissioners informed the governors that the next month or two could prove pivotal, in view of the events of January, despite what appeared to be a downward trend in the subsidy figures, noting that some measure of fuel subsidy withdrawal appeared to have either been achieved or indeed had been achieved for now. Sources in the Commissioners of Finance Forum confirmed the authenticity of the memo and said that government should come out plainly on what it wants to do about the subsidy.

 “If you are removing fuel subsidy remove it. Right now it is not very clear what we are doing. Those who should talk about this should come out and do it,” one of the sources said. Last week, the thirty-six state governors met in Abuja warned that Federal Government was overspending in the name of subsidy deduction. In January when government announced the total subsidy removal and hiked fuel pump price from N65 per litre to N143, Nigerians went on strike for days and government later reduced the price to the current N97 per litre.
Source:Dailytrust
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"Subsidy Reinvestment and Empowerment programme not possible again"-Jonathan

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PRESIDENT Goodluck Jonathan on Monday said the Subsidy Reinvestment and Empowerment programme promised by his administration was no longer realistic. The President said SURE was hurriedly conceptualised in January on the heels of the nationwide protest against the removal of the fuel subsidy. Jonathan added that the implementation was no longer feasible since the zero-subsidy policy planned by his administration was not being implemented.

Jonathan spoke at the 58th National Executive Committee meeting of the Peoples Democratic Party where he ordered his party men to retrieve copies of a SURE publication that had been advertised. The PDP members had distributed the publication to attendees at the meeting, but on sighting the document the President expressed surprise and ordered that it should be withdrawn.

The President said, “As I came in, I saw this SURE book being distributed, we are withdrawing it. This is the old one. We developed this with the expectation that we were going to completely deregulate the downstream sector of the oil industry, (after) the 100 per cent removal of subsidy.

“You know we could not achieve that though there was an increase in the pump price. I don’t want this thing to be distributed; it will give a wrong impression.

“We are working on a new document based on the reality, but we don’t want to promise what we will not achieve. Those who have it please withdraw it, we cannot realise the money that is stated therein, but we will still come up with a document based on what we get.”

Curiously, Jonathan had inaugurated a board for the implementation of the SURE programme barely a week ago, on February 13. The board is headed by a former High Commissioner to the United Kingdom, Dr. Christopher Kolade.

Critics of the government and opposition parties had earlier predicted that the government could not be trusted to implement SURE which some of the critics had described as a “fraud”.

In the SURE document, which was distributed on Monday, government has put the total subsidy reinvestible funds at N1.134tn based on an average of $90 per barrel of crude oil.

According to the document, out of the total, N478.49bn would accrue to the Federal Government, while state governments and local governments would get N411.03bn and N203.23bn respectively.

The document adds that N9.86bn would go to the Federal Capital Territory while N31.37bn would be transferred to the Derivation and Ecology, Development of Natural Resources and Stabilisation Fund.

Among the items the Federal Government promised to spend money on were the construction of the East–West Road; construction of some roads and bridges in the six geo-political zones of the country; and the completion of rail routes.

The government also listed some of the irrigation projects it planned to embark on, promising that the revitalisation of the irrigation projects would increase the local production of rice by over 400,000 tonnes per year.

The withdrawn document further adds that government will contribute to the power sector reforms by improving generation capacity through hydro and coal power plants.

“The current subsidy regime in which fixed price is maintained irrespective of market realities has resulted in huge unsustainable subsidy burden,” the document says.

The government had on January 1, 2012 announced a total removal of subsidy on petrol but the consequent jump in the pump price of the product from N65 per litre to N141 had attracted nationwide protests and a strike action championed by organised labour and civil society groups.

Following a week of paralysis in the socio-economic sector, the government on January 16 agreed to revert the price of petroleum to N97 per litre.

The Federal Government, however, on February 15 proposed additional N656.3bn to the 2012 budget to cater for its subsidy on petrol.

Jonathan’s coordinating minister, Dr. Ngozi Okonjo-Iweala, had in a statement explained that the 2012 Fiscal Framework earlier submitted to the National Assembly assumed 100 per cent subsidy removal and that only N155bn was provided for the carry-over of 2011 subsidy payments.

Okonjo-Iweala explained that the estimated total figure for subsidy in 2012 was N888bn, made up of N656.30bn for 2012 and N155bn as carry-over from 2011.

Shedding light on the subsidy budget for 2012, the minister stated that the amount was arrived at after extensive consultations with the Nigerian National Petroleum Corporation and the Petroleum Products Pricing Regulatory Agency.
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Fuel protests memorial: Gani’s wife,son, 18 activists arrested

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WIFE of Late legal luminary, Chief Gani Fawehinmi, Mrs.Bukola Fawehinmi, his son, Mohammed Fawehinmi, former Chairman of theAcademic Staff Union University and Chairman of Joint Action Front, JAF, Dr. Dipo Fashina, Secretary of JAF, Comrade Abiodun Aremu and 16other activists were yesterday arrested by police inLagos while on their way to Gani Fawehinmi Freedom Square, Ojota tohold a memorial service for killed victims of the fuel subsidyprotests.

The 20 activists were taken to the Police Command while Gani Fawehinmi’s wife and son who after being tear gassed came to the police commissioner to secure their bail and were also arrested as part of the group.

Among those arrested included Lagos State Chairman, National Conscience Party (NCP), Mr. Tunde Agunbiade, his gubernatorial candidate for the 2011 election in the state, Comrade Ayodele Akele, Shola Olatunde, Adedeji Akintunde, KazeemAkinrinade, Akeem Keshinro, Popoola Ajayi, Kunle Oladejo, IsmailOlawale, Agolade Musubau. Four others were arrested and taken to Alausa Police Station.

The memorial was organised by JAF in conjunction with Nigerian Bar Assoiation, NBA, Lagos state and other allies.

However, Lagos Lawyer and activist, Femi Falana secured their bail after being made to write a statement.
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When You Marry An Illiterate Woman as a Wife, You Make Stupid Decisions Like Jonathan – Wole Soyinka

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An analytical piece by Tobi Akiode. He has obliged to sharing this with as many Nigerians as possible. Please share this with friends and the general public.

It’s No More about Subsidy Alone.

The American President has only TWO aircraft, our president has 9[Nine] in his fleet and was voted money recently to buy ONE more! Making it TEN!

The British prime Minister has only TWO official cars, our president has 23 in his pool and only recently voted 300Million Naira to buy TWO more bullet/bomb proof ones!

Senators in the US earn about $6,000 dollars monthly and that’s about what a university professor, or a director in a state department, or a doctor with 20years experience, or a teacher with 25years experience earn too, but Here in Nigeria a senator earns 245 million Naira per annum! That’s the salary of 25 vice chancellors, or 50 medical doctors, or 60 directors, or 500 school teachers!

The US, almost the size of Africa with about 500million people have 24 ministers, and 32 government parastatals and commisions, Nigeria has a whooping 42 cabinet ministers, and over 50[Fifty] government parastatals!

America with about 500million people and more mileage to drive consumes 39million litres of petrol daily, Nigeria with 150million people 60% out of which live in remote areas, yet our government tells us we consume about 35million litres of petrol daily!

2. Is Subsidy Really the Problem of Nigeria?

‘When you marry an illiterate woman as a wife, you will definitely make stupid decisions like jonathan’: wole soyinka spoke!

Our Dear President GoodLuck Jonathan has become a tyrant, a shandel, a shame, he has become the No.1 Enemy of Nigeria. Is this because we, Nigeria are yet to adopt to CHANGE? Change that only Jonathan can see? The End will justify everything. Pray for Nigeria! Pray for our Beloved Country!
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Fuel subsidy scam: EFCC summons oil marketers

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Chief executive officers of all major and independent companies in the downstream sector of the petroleum industry have been summoned by the Economic and Financial Crimes Commission (EFCC), as the ongoing probe into the alleged multi-million naira scam in the fuel subsidy regime gathers momentum.

The oil magnates have been asked to report at the commission’s head office in Abuja as from today, to explain transactions of their respective companies in the importation and supply of petroleum products, and payments received as subsidy.

They are to appear in batches before a crack team of anti-fraud detectives specially empanelled by the Acting Chairman of the EFCC, Mr. Ibrahim Lamorde and have been requested to make available necessary documents and other supporting evidence in respect of all transactions.

Acting spokesman of the commission, Mr. Wilson Uwujaren, confirmed the development but did not give further details. It was, however, learnt that the invitation to the marketers, which came sooner than expected, was sequel to the recovery of stunning documents during a recent raid by operatives of the EFCC of the Petroleum Products Pricing and Regulatory Agency (PPPRA) offices in Abuja.

President Goodluck Jonathan had directed a probe into the subsidy regime following public outcry, which trailed the Senate revelation of names of the beneficiaries of fuel subsidy totalling N3.655 trillion between 2006 and 2011. An alarming sum of N1.426 trillion was also said to have been spent on subsidy between January and August last year alone.

The Senator Magnus Abe-led Senate ad-hoc committee probing the management of fuel subsidy regime had last month, listed the beneficiary companies and amount of money received last year.

These included Oando Nigeria Plc, N228.506 billion; Integrated Oil and Gas Plc, N30 billion; MRS, N224.818 billion; A. A. Rano, N1.14 billion; A-Z Petroleum, N18.61 billion; A.S.B, N3.16 billion; Arcon Plc, N24.116 billion; African Petroleum, N104.58 billion; Aminu Resources, N2.3 billion; Capital Oil, N22.4 billion; Con Oil, N37.96 billion; Avante Guard, N1.14 billion; Avido, N3.64 billion; Boffas and Company, N3.67 billion; and Brilla Energy, N960.3 million.

Others were D. Jones Petroleum, N14.86 billion; DownStream Energy, N789.648 million; Dosil Oil and Gas, N3.375 billion; Inco Ray, N1.988 billion; Eternal, N5.574 billion; Folawiyo Energy, N113.32 billion; Frado International, N2.63 billion; First Deepwater Oil, N257.396 million; Heden Petrol, N693 million; Honeywell Petrol, N12.2 billion; AMP, N11.417 billion; Ascon, N5.271 billion; Channel Oil, N1.308 billion; Fort Oil, N8.582 billion; Enak Oil & Gas, N19.684 billion; Bovas & Co. Nig Ltd, N5.685 billion; and Obat Oil N85 billion. Also named were AP, N104.5 billion; IPMAN Investment Limited, N10.9 billion; ACON, N24.1 billion; Atio Oil, N64.4 billion; AMP, N11.4 billion; and Emac Oil, N19.2 billion.

The Senate committee’s probe further showed that in 2006, only MRS, Total and Oando were listed as beneficiaries of the fuel subsidy recognised by the Federal Government. The three companies were said to have been listed as “major marketers”, but were joined in 2007 by AP and Mobil in that category.

In the same year, NIPCO was introduced and listed under the category of petrol depot owners, with the introduction of a new category of independent marketers, which included some of those without depots. AITEO Energy Resources and Triquest Energy were added in 2007, bringing the total to eight beneficiaries of the fuel subsidy. The list of subsidy beneficiaries rose to 23 in 2008, including six major marketers.
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Why govs called for fuel subsidy removal

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Delta State Governor, Dr. Emmanuel Uduaghan, yesterday defended the position of the state governors in backing the removal of fuel subsidy, pointing out that the governors were the ones that raised alarm, calling for the stoppage of the subsidy as it was about affecting the earnings of the states adversely.

He stated this while addressing Christian leaders at Government House, Asaba, yesterday, on the need to restrain their followers from taking laws into their hands over the killings perpetrated by the Boko Haram sect in the North.

He said he had suggested to the Federal Government, the need to improve on the technology used by illegal bunkerers to enable the nation refine petrol at cheaper cost.

He said: “From what is happening, everybody seems to agree that the removal of fuel subsidy is necessary. This subsidy has been on for several years but in the last two years it has become an issue. Before then the Federal Government was deducting about N200 billion to N300 billion per year for fuel subsidy.

But in 2010 it rose to about N600 billion and the plan was to remove it by March last year. So, the Federal Government budgeted N240 billion but we noticed, as governors, that as at July they were still deducting and by September they had deducted N1.3 trillion. And they usually deducted it at source even before they brought it for sharing.

“So we (governors) raised an alarm that the way the Federal Government was going about it, the states might not even have money to share and we needed an explanation on the way the money was being taken.”
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Govt agencies deny okaying payment of subsidy

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Government agencies involved in management of petroleum subsidy yesterday denied before the House Adhoc Committee on Fuel Subsidy Regime Monitoring, knowing the body responsible for the authorization of subsidy payment.

The Minister of Petroleum Resources, Diezani Allison-Madueke had told the Adhoc Committee Tuesday that she could not say anything about who authorized the payment of subsidy since she was under oath.

Also the Minister of Finance, Dr Ngozi Okonjo-Iweala, had spoken in the same vein, claiming that as at the time she resumed in August, she could not certainly point at the body that authorized payment of subsidy.

Appearing before the committee yesterday, Constitutional lawyer, Olisa Agbakoba, attributed the deteriorating state of the economy to the failure of successive governments to implement various laws made to govern the system.

The Minister of Finance appearing again yesterday,, when asked by the Chairman of the Investigative Committee, Farouk Lawan, to explain the manner the NNPC made the subsidy deductions and who made the authorization, she gave same response given on Tuesday that she did not know .

The Chairman had also asked her why KPMG audit report was not being implemented, the Minister had told the committee that henceforth all leakages observed would be plugged by the Ministry of Finance.

Asked who registers importers that bring petrol into the country, Dr Okonjo-Iweala answered in the negative, saying her ministry was not in an way involved in the registration of importers or issued license to any company.

On Wednesday, the Executive Secretary of Petroleum Pricing Regulatory Agency, PPPRA, Mr Reginald Stanley, also said he was not in the know of who authorized subsidy deductions.

Group Managing Director of NNPC, Mr Austen Oniwon, had spoken in the same vein when he faced the panel.

The Director General, Budget, Mr Bright Okogwu, also evaded the question of who makes authorization for subsidy deductions as he simply said all leakages would be plugged henceforth.

Agbakoba blames failure of economy on successive govts

Agbakoba in his presentation, also alleged that the lacuna created by non-enforcement of existing laws exposed Nigeria to invasion and exploitation by some advanced nations of the world, which came to do business in the country.

The legal practitioner, in reacting to fuel subsidy removal, expressed doubts about the existence of any subsidy as being claimed by the Federal Government, insisting that there had not been any convincing evidences that subsidy existed.

Agbakoba, who was former President of Nigerian Bar Association, NBA, made these assertions yesterday while presenting a paper at the Farouk Lawan-led House Ad-hoc Committee set up to investigate the subsidy regime in Nigeria.

He also argued that while deregulation was a welcome global economic phenomenon, implementing the policy in isolation without taking care of other basic salient but very relevant issues in the system would be an effort in futility.

He expressed disappointment that the Nigerian government formed the habit of not patronising indigenous businessmen and professionals, lamenting that while government patronised multinational companies, they used the country’s money to develop their economies.

Noting the negative impact of allowing foreigners to dominate the nation’s business, Agbakoba observed that thousands of foreign ships come to Nigerian ports to do oil business, while the indigenous ship owners remained without serious economic activities.

This trend, he warned, must be reversed in the current effort to transform the economy; else, no meaningful achievement would be made in this direction.

He explained that the economy could not grow by mere rolling out economic policies by government that would not be judiciously implemented, but by empowering the people economically.

He said: “If we want to change our country, let us implement our laws. The economy will not grow by budgeting so much money. It will grow by government empowering our people.

“Why does our government still bank in foreign banks? Is anything wrong with our banks? Government has to promote Nigerian businesses. We have to love ourselves first.

“Mobil Oil Ltd is still importing foreign lawyers to write simple agreements. They still bring in foreign engineers while our people are here without jobs. Can you go to the United States or Britain and do that. Of course they will not allow you to do that.”

Consequently, the legal luminary implored the lawmakers to pass a law that would protect Nigerians by giving them preferential treatment in business transactions with Nigerian government over their foreign competitors doing business in the country..

He also urged the Federal Government to implement the Cabotage Act, which was put to abeyance since its passage by the National Assembly and assented to by President Olusegun Obasanjo.

Agbakoba pointed out that when implemented, the law would transform the maritime sector and make it contribute substantial revenue to the economy.
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Fuel subsidy removal: Oshiomhole rolls out paliatives to Edo people

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Governor Adams Oshiomhole of Edo State , yesterday, rolled out palliatives that would cushion the effects of the removal of fuel subsidy by the Federal Government in the state and admonished political leaders in the country learn to set aside personal political calculations in the larger interest of the polity.

The Governor in a state Broadcast, abolished all fees and levies including PTA in all public secondary schools, reduced school fees by N15,000 for under graduate students of the state-owned Ambrose Alli University Ekpoma both for indigenes and noen indigens, adding that te total value of this reduction will be paid to the University by the Edo State Government en bloc in addition to the N210 monthly subvention.

Other palliatives put in place includes,free medical treatment for pensioners and senior citizens at the age of 70 and above, 50 per cent reduction in transport fare to pupils and students, purchase of more buses and others.

Oshiomhole who noted that Nigerians rejected the removal of fuel subsidy because the public does not trust that the proceeds will be utilized judiciously, assured the people of the state that We are determined to ensure that the pains arising from the partial removal of subsidy translate to concrete gains for the generality of our people.

While appreciating the people of the state for their support and their unflinching trust, understanding during what he described as the challenging events of the past two weeks, I am deeply gratified by the appreciation of my position and role in the resolution of the crisis arising from the subsidy reduction.

For me, there are no easy solutions to the problems that confront our nation. However, to meet the multi-facetted challenges of good governance, I believe that leaders at all levels need to set aside personal political calculations in the larger interest of the polity.

Therefore, whereas it was convenient for me at this point to exploit the current issue to orchestrate my political interests, especially as elections are around the corner, the overriding interest of our country was utmost in my mind he said.
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Subsidy Corruption: Nigeria Pays For 24m Litres of Unaccounted Fuel Per Day

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The House of Representatives Ad Hoc Committee on fuel subsidy regime yesterday learnt that Nigerians have been paying for 24million litres of petrol that were smuggled to neighbouring countries on a daily basis.


his was revealed when the management of the Petroleum Products Pricing and Regulatory Agency (PPPRA) and the Nigerian National Petroleum Corporation (NNPC) appeared before the Farouk Lawan-led committee.

PPPRA Executive Secretary Reginald Stanley said the payment and smuggling have been going on since 2006.

According to the agency’s figures, while Nigeria imports 59 million litres of fuel on a daily basis, only 35 million litres are consumed in the country.


The Federal Government paid N649 billion subsidy on excess imported petrol in 2011, House of Representatives ad-hoc committee investigating the subsidy regime was told yesterday in Abuja.


The revelation contradicted statistics given by Petroleum Minister Diezani Alison-Madueke, who told the panel on Tuesday that the average daily consumption of petrol in Nigeria was 35 million litres.

Stanley told the MPs that records available to him showed that the total daily import of petrol was 59 million litres thereby leaving a huge difference of 24 million litres. The new figures bring the annual over importation of petrol to 8.76 billion litres.

When computed side-by-side with the regulated price of N65 per litre which obtained in 2011, Nigeria might have spent N649.3 billion as subsidies on excess petrol.

“You told us that subsidies were paid based on 59 million litres daily consumption while the actual daily consumption is 35 million litres, leaving the gap of 24 million litres which is paid for as subsidy but not utilised by Nigerians.
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Video Documentary On Everything You Need To Know About The Fuel Subsidy

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This video describes everything you need to know about the fuel subsidy stuff in Nigeria

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Lagos State Govt Grants Save Nigeria Group Permission to Protest

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The Lagos state government has granted permission to the Save Nigeria Group to stage two protests at the Gani Fawehinmi Freedom Park in Lagos. First protest is for tomorrow Thursday 19th and second one is Saturday January 21st, 2012.

Attending the protests are: Funmi Iyanda, Olisa Agbakoba, Femi Falana, Mike Ozekhome, Tunji Braithwaite, Balarabe Musa, Pat Utomi, Kalu Idika Kalu, Federick Fasheun, Dr Arthur Nwakwo, Rev Moses Iloh, Festus Keyamo, Dr Dipo Fashina, Nike Ransome Kuti, Shettimah Yerimah, NBA, NMA, NUJ and Civil Society groups and hundreds more...
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Housewives beg FG to increase workers’ salaries

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Some Housewives in Port Harcourt, Rivers, have appealed to the Federal government to increase workers’ salaries in order to cushion the effect of fuel subsidy removal on their house-keep allowance.

The housewives, on Tuesday, said that they were the most affected in the subsidy removal as the prices of commodities in the market increased.

Most of these housewives said that mere mentioning of “I want money” annoyed their husbands who actually had spent some money on school fees, fuel and other bills.

Mrs Lucy Odinka said that January had always been a difficult month having come out from Christmas spending and entered into school fees payment and school preparation expenses.

“January house-keeping allowance is never enough because of the extra expenses on stocking the children’s snacks, drinks and other school needs.

“With the increase in fuel, prices of provisions are now increased and by the time you finish buying things for the children, the allowance would not be enough for food for the month,” Odinka said.

Mrs Joy Philip said that the annoying thing was that the open market had become a supermarket where prices of commodities were not bargained for.

“At the market, any attempt for you to price things would make some sellers to abuse you while some would just snub you. It is only a little few who would explain to you on how they paid high transportation to get wares,” Philip said.

Mrs Ada Owiriwa said that some men did not know how to manage themselves well when they were cashless but would quarrel with their wives at any little provocation.

“Many housewives would suffer if government did not add any money to the workers’ salaries because they would still use the old amount to feed the family monthly even when food stuffs increased in price.

“Last week of every month is always a difficult time because the allowance remained little or nothing and you must provide food for your family.

“And, this is the time some husbands and wives quarrel because of money,” she said.

Mrs Comfort Cookey said that civil servants were always the worse hit by any policy on fuel hike because their salaries were their only source of income.

Cookey said that other professions would only increase the cost of their services to cushion the effect of such policy.

“A trader would simply build in his transportation fare in his commodity price and sell to recover the fare but the civil servants would not have anywhere to retrieve his own fare.

“The market women would buy at a high cost and would build in their transportation fare and profit before selling while the civil servant would be forced to buy.

The housewives told the government to consider the plight of the workers and the families in any harsh economic condition before making policies.

They also said that the rate of high blood pressure among the civil servants and their wives would increase because of added worries on how to make ends meet.
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Petrol still N160 in Anambra

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Apart from NNPC mega stations which sell petrol at N97 per litre, most filing stations in Anambra State were still selling at N160 per litre as of Tuesday.

Some of the station attendants said they were directed to sell at the old prize because they were old stock.

Though the queues at the mega stations were unusually long, motorists waited patiently for their turns.

Many workers also reported for duty on Tuesday and spent the greater part of the day cleaning their offices, just as the banks recorded large number of customers.

Motor parks in the state were jam packed as many people who returned home for Christmas and New Year celebrations and were trapped in the wake of the fuel subsidy strike had started returning to their various destinations.

Transport fares were still high as the commuters coughed N7000 for a journey to Lagos and Abuja by bus.
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Nigeria loses N794bn to fuel subsidy strike

Citizens’ Right Initiative Project, CRIP, has said that the nation lost about N794.65 billion during the six- day nation-wide protest over increase in the pump price of petrol, adding that what Nigerians fought against was price fixing, and not deregulation. 

CRIP queried the unilateral ‘’drawing down of the $32 billion in the excess crude account by the Federal Government, contrary to the Fiscal Responsibility Act, 2007,” adding that was the beginning of the current economic problems facing the country. 

 Acting Director of CRIP, Mr. Friday Udoh, in a statement, said: ‘’Nigerians must be ready to hold the leadership of this country accountable for all their actions, especially on who was responsible for the unwarranted action that brought about the strike, which has cost the nation dearly. ‘’We lost N794.65 billion within the last five days of the national strike, not N500 billion as announced by the Central Bank Governor, Lamido Sanusi. 

The window of opportunity opened when the Excess Crude Oil Account was at about $32 billion before the spending and eventually drying up of the account.” “This was contrary to the provisions of the Fiscal Responsibility Act, 2007.

 Someone must be held responsible for it. ‘The Act never envisaged withdrawals from that account in the manner it was handled on several occasions since 2007. No government in the federation shall have access to the savings made pursuant to 35(2) of this section, unless the reference commodity price falls below the per-determined level for a period of three consecutive months. 

 “The wording of that sub-section of the Act is unambiguous, and governments at every level are to enforce laws and regulations of the land. There had been no fluctuation of crude price in international market to warrant the squeezing of this account; not even for constructing of critical infrastructure,” he added.
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Mixed reactions trail suspension of strike/protest

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Nigerians have been reacting to the announcement made by the Nigeria Labour Congress and Trade Union Congress suspending a week-long nationwide strike/ mass protests to force the federal government to revert the price of fuel to N65 per litre.

Recall that leadership of Labour unions early on Monday, announced the suspension of the nationwide strike which practically shut down economic and commercial activities in the country, following its acceptance of N97 per litre as fixed by the federal government.

A cross section of Nigerians who reacted to Vanguard Online news were divided on their opinions as whether the actions of Labour unions and that of the federal government were at the best interest of Nigeria and Nigerians.

While some were angry and disappointed at Labour for betraying their trust by accepting the N97 new pump price as against the N65, others hailed the compromised made by both the Labour and the federal government, describing Labour’s action as best in the present situation.

Some of the aggrieved Nigerians vowed to continue with the protest/ occupy Nigeria until the price of fuel is reverted to N65.

According to Mr Olademeji, NLC/TUC did not speak the minds of Nigerian. He said; “it’s not N65 per litre yet. We must finish our protest. let’s go back to strike until fuel comes back to N65.”

For Mr Lucky, Labour’s acceptance of N97 rubbish the efforts of Nigerians who gave Labour unflinching support and made their struggle a fruitless one.

In his reaction, Mr Kano condemned NLC’s action stressing that Nigerians would never trust them again. “Initially, we appreciated the efforts of NLC but later, they started disappointing us, that is why Nigerians lost faith in you and some Nigerians will never trust NLC again.”

Meanwhile, the decision of NLC has been applauded. Adesina said; “well done NLC and TUC, federal government can now go ahead with its deregulation policy. My advice to GEJ is to ensure speedy implementation of SURE programme so as to provide jobs for the protesting youths.”

For Mr Nagberi, since N97 has been accepted by the Labour, the Federal government should immediately commence implementation of projects and plans for the removal of subsidy. “We want to see the physical and tangible benefits.”

Speaking in the same direction, Akahie said though, NLC/TUC have disappointed the masses by “compromised our collective resolve, it’s time for President Jonathan to redeem his battered image by fulfiling all his promises.”
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Transport fares still high after petrol price reduction

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Transports fares to various parts of the country remained high on Monday after President Goodluck Jonathan had announced a reduction in the pump price of petrol from N141 to N97 per litre.

The News Agency of Nigeria (NAN) reports that inter and intra-city fares, which had risen by more than 150 per cent following the January 1 increase in the pump price from N65 to N141 per litre, still subsisted.

Passengers travelling to Lagos and Ibadan from Abuja by bus from the Jabi motor park told NAN that they were paying N4,700 as against N3,200 charged before the pump price increase, while those travelling by car paid N5,000.

NAN also reports that those travelling to Owo and Akure, both in Ondo State, paid N3,500 instead of the previous fare of N2,000 by bus, while passengers travelling to Ilorin by car paid N5,000, up from N2,500.

NAN further reports that fares to the South-East jumped from N3,520 to N6,520 for passengers travelling to Abia, while those travelling to Enugu paid N3,500 instead of N1,800.

Mr Moses Alexander, the Secretary of NURTW at the Jabi park, said commuters were not travelling as much as they used to because of the strike called by organised labour, (now suspended), as well as the high transport fares.

Alexander assured travellers that the union was ready to bring down fares if the filling stations adjusted their pump price to N97 per litre as announced by government.

Intra-city fares which had increased by more than 100 per cent following the earlier increase in pump price from N65 to N141 subsisted on Monday.

Passengers commuting between Garki in Abuja and Gwagwalada, also in the FCT, were paying N400 compared to N250 while those commuting between Wuse in Abuja and Mararaba in Nasarawa State paid N200, up from N100. Those commuting between Wuse and Kubwa in the FCT paid N200 instead of N100. (NAN)
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