Subsidy thieves latest: Two Subsidy Reports, reaching a denouement
- Details
- Category: GENERAL
- Published on Sunday, 15 July 2012 12:15
- Written by elombah.com
The Aig-Imoukhuede fuel subsidy report has revealed gaps in Farouk Lawan-led House of Representatives probe. The presidential committee set up by President Goodluck Jonathan to verify and reconcile all fuel subsidy claims and payments made between 2009 and 2011 submitted its report on Friday with the revelation of significant gaps
in the report of the House of Representatives ad hoc committee on fuel subsidy.
The technical committee was constituted by the Federal Ministry of Finance after the outbreak of the bribery scandal that tended to taint the earlier probe of the subsidy regime by an eight-man ad hoc committee of the House of Representatives headed by Mr. Farouk Lawan.
Lawan, who initially alleged to have come under severe pressure from the indicted oil marketers, was later to be embroiled in the bribery scandal that exposed his committee’s report to public ridicule and angst.
It was the mountain of misgivings that trailed the report by the Lawan committee and the subsequent complaints by oil marketers that prompted the setting up of the presidential committee to confirm all the claims. That decision has seemed to pay off with the discovery of about 50 companies that allegedly abused the fuel subsidy regime but which were given a clean bill of health by the House committee.
One of the most startling details that emerged from the Lawan committee’s probe was how in 2011 the country paid subsidy on 59 million litres of petrol per day when in fact the daily consumption was 35 million litres.
The Lawan committee submitted its report to the House on April 19, after sitting for three months. The House adopted the report on April 24 for onward transmission to the executive for implementation.
The Federal Ministry of Finance set up another committee in May to scrutinise the fuel subsidy payments to marketers during the 2011 financial year. The ministry had been surprised that despite paying N1.7 trillion in subsidy by December 2011 and another N450 billion this year to clear the 2011 backlog, outstanding claims still remained from 2011.
In addition to its members, the technical committee also sought the support of CBN examiners and other financial experts and consultants, including Lloyd’s List Intelligence, which was also consulted by the House committee.
Whilst the House committee comprised lawmakers, the technical committee was made up of experts.
The committee submitted its report to the Minister of Finance, Dr. Ngozi Okonjo-Iweala, and the presidency six weeks after it was set up.
However, a fresh twist was introduced into the fuel probe with businessman and chairman of Zenon Oil, Femi Otedola, staging a sting operation, allegedly with the support of the State Security Services, to nail Lawan in a damning $3million bribery scandal. Lawan later admitted collecting $620, 000 from Otedola.
Interestingly, the report of the Aig-Imoukhuede committee was not spared from criticisms by fuel importers who, in apparent reaction to the public angst resulting from the revelations of the committee, described the technical committee’s report as a hasty job.
The companies flayed the report largely on the grounds that the Aig-Imoukhuede committee did not invite them to make clarifications with regard to some conclusions reached.
However, the Federal Ministry of Finance, in a response to the complaints of the affected companies decided to set up the technical committee, which was also headed by Aig-Imoukhuede, to verify and reconcile the findings of the Technical Committee on Payment of Fuel Subsidies that he had earlier led.
The essence of the committee was apparently to give marketers indicted in the first report an opportunity to provide documentary evidence to clarify the findings of the technical committee, given that most of them had complained they were not given a fair hearing. The committee, which submitted its findings on Friday, upheld the earlier verdict of the Technical Committee on Payment of Fuel Subsidy.
With the conclusion of this technical verification, Nigerians now expect President Goodluck Jonathan to swing to action and prosecute all indicted subsidy thieves immediately
Names missing in farouk lawan's report
1. Valviza Petroleum Ltd
2. MRS Oil and Gas Co. Ltd
3. Aiteco Energy Ltd
4. Eterna Plc
5. Forte Oil Plc
6. Rahamaniya
7. Sahara Energy Ltd
8. Oando Plc
9. Folawiyo Energy Ltd
10. Geacon Energy Ltd
11. Northwest Petroleum and Gas Ltd
12. Venro Energy Ltd
13. Brittania-U Nigeria Ltd
14. Lloyds Energy Ltd
15. Majope Investment Ltd
16. African Petroleum Plc
17. Masters Energy Oil and Gas Ltd
18. Pvn Capital Ltd
19. Sirius Taglient Ltd
20. Tempo Energy Ltd
21. Bodej Investment Ltd
22. Practoil Ltd
23. Avidor Oil and Gas Company Ltd
24. Colbert Energy Ltd
25. July Seventh Oil and Gas Ltd
26. Mecuria Global Energy
27. Momats Oil and Gas Ltd
28. Rainoil Ltd
29. Xalon Petroleum Ltd
30. Xavier Energy Nig Ltd
31. KMCL
32. First Independent Nig Ltd
33. Tahill and Tahill Nig Ltd
34. Aquitane Oil and Gass
35. Quagga Oils Ltd
36. Reliance Petroleum Ltd
37. Crustream Nig Ltd
38. Dan Oil and Petrochemical Ltd
39. Midas Oil and Gas Ltd
40. Nupeng Venturers Ltd
41. Vita Cam Services
42. Viva Energy Ltd
43. Tamil and Tamil Nig Ltd
44. Fargo Int. Ltd
45. Mezcor Sa
46. Absaf Petroleum and Company Ltd
47. Delmar Petroleum Company Ltd
48. Tamzila Petroleum Company Ltd
49. A.A Rano Nig Ltd
50. Fatgems Pet Co. Ltd
With additional reports from THISDAY Newspapers
