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Senate Names Fuel Subsidy Beneficiaries

THE Senate yesterday named beneficiaries of the controversial excess figure on the 2011 oil subsidy as at August, 2001. The veil was lifted  at  the public hearing on the operations of the fuel subsidy scheme in the country.
Among the bene…

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David_Mark-1THE Senate yesterday named beneficiaries of the controversial excess figure on the 2011 oil subsidy as at August, 2001. The veil was lifted  at  the public hearing on the operations of the fuel subsidy scheme in the country.

Among the beneficiaries are Oando Nigeria Plc, N228.506billion; Integrated Oil and Gas Plc, N30billion; MRS, 224.818billion; Con Oil, N37.96billion; Enak Oil & Gas, N19.684billion; Bovas & Co. Nig Ltd, N5.685billion; Obat, N85billion and AP, N104.5billion.

Others are Folawiyo Oil, N113.3billion; IPMAN Investment Limited,

N10.9billion; ACON, N24.1billion;  Atio Oil, N64.4billion; AMP, N11.4billion; Honey Well, N12.2billion; Emac Oil, N19.2billion; D.Jones Oil, N14.8billion and Capital Oil, N22.4billion; AZ Oil, 18.613billion.

The rest are Eternal oil, N5.57 billion; Dozil oil, N3.375 billion; Fort oil, N8.582 billion.                                 Some construction companies were also on the list, but the committee said the companies had shut down their web sites when the probe began.

The Chairman, Senate Committee on Petroleum Downstream, Senator Magnus Abe, who took time to call the marketers and how much they have benefited from the subsidy, however differed on the amount earlier given by the Executive Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA), Reginald Elijah Stanley. Instead of N1.346trillion earlier presented, the Senator pegged his findings at N1.426trillion.                         .

The PPPRA boss also gave the gross amount spent on oil subsidy from 2006 till date at N3.655trillion.

Senator Abe in his response questioned the number of petroleum marketers totalling over 100. He stressed that some of them are construction companies and “have no business importing petroleum products.”  He added that even the process that brought them on board was faulty as they did not follow proper guideline.

Also, the claim that N450 billion kerosene subsidies was owed the Nigerian National Petroleum Corporation (NNPC) by the Federal Government was debunked by the PPPRA. According to the latter, there was no such record in its books.

Earlier, the Senate had demanded from the NNPC Group Managing Director, Austin Oniwon, the cost of locally refined petroleum products as against those imported and whether there was subsidy on locally refined products.                     .

In his response, the GMD stressed that it cost between four and five dollars, depending on the exchange rate, to refine a barrel of oil, which is equivalent to 159 litres. According to him, the locally refined products equally attract subsidy but at a reduced rate compared to imported products.

“We collect subsidy on locally refined product, but it is less than what we collect on imported product. But since we do not include traders marking and other charges on imported products, it costs N11.87 less on locally refined products and N11.87 more on imported ones. An indication that NNPC makes more money on imported products than from the locally produced ones.”

On the allegation of round tripping – a situation, where importers return the locally produced product at the cost of imported, the GMD denied any knowledge of such sharp practice. “I am already under oath and it will not be in my interest to say what I don’t know about. I have not cut anybody round tripping and I would not want to speculate”, he said.                                 Among questions which did not get satisfactory answers from GMD, NNPC and Executive Secretary, PPPRA are evidence of payment of dividend accruing from the country’s joint venture with Nigeria National Liquidities (NNLG), Shell Petroleum and other companies as well as the reason the nation is not in a hurry to resuscitate existing refineries.

The only answer they managed to extract from the GMD, NNPC was that the sum of N71million was spent on turnaround maintenance for Kaduna Refinery in 2008. He also stressed that the dividend from the joint venture was expended on construction works on Brass NLG. “The data would be provided later,” he said.

He however admitted that if fully resuscitated (which is expected in the next two years), Nigerian refineries would be producing at optimum capacity of 22milion litres daily.

“In two years’ time, Nigeria would be producing at the capacity of 22million litres daily at the completion of the turnaround maintenance.”

The Committee adjourned sitting till Monday, December 12.

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew
Kwara Governor, Abdulrazaq Declares 24-hour Curfew

Governor AbdulRahman AbdulRazaq

Following the outbreak of violence in some quarters of the State, Governor Abdulrahman Abdulrazaq of Kwara State has declared a 24-hour Curfew on the state starting on Saturday.

Governor Abdulrazaq made this known in a statewide broadcast on Friday night.

Recall that on Friday some residents of Ilorin, the Kwara State capital stormed the warehouses where the government stored COVID-19 palliatives expected to be distributed to citizens.

Also Read: BREAKING: Lagos Government Relaxes Curfew

The warehouses, located at the cargo warehouse of the International airport in Ilorin as well as the agro-mall located in the Sango area of the state were totally ransacked as residents struggled to pack as much food items as they could.

Abdulrazaq said, “Lives are being threatened. Businesses are being looted. Public properties have been targeted. This is unacceptable. It is not who we are.

“To curb these acts of criminalities, I hereby declare a 24-hour curfew in Ilorin metropolis from midnight today October 23rd, 2020. This is in line with Sections 1, 2, and 4 of the Public Order Act Chapter 382 Laws of Federation of Nigeria 2004.

“People are urged to stay indoors in compliance with this curfew. This will be reviewed as we watch developments.

“Our observation is that what has happened today is not a protest, it cannot be defended under any guide, it was a pure act of criminality as some people are hiding under the guise of nationwide protest.”

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

Two PUNCH journalists, Femi Dawodu and Segun Odunayo, were on Wednesday brutalised by policemen guarding the Lagos State House of Assembly in Ikeja.

The duo had gone to cover events around the Alausa area, a major demonstration ground of the #EndSARS protesters calling for a total overhaul of the Nigeria Police Force.

According to the PUNCH, both Odunayo and Dawodu were recording a live video of activities in the area when the policemen accosted them and ordered them to stop the recording.

After showing the policemen their identity cards, indicating that they are journalists covering #EndSARS protests and monitoring compliance with the government-imposed curfew, the policemen became annoyed and pounced on them.

Odunayo said the policemen tortured them for four hours, adding that they stripped them of their clothes, laid them on the floor, beat them with a stick and guns, and took a video recording of them while torturing them at the Lagos State House of Assembly.

Odunayo said, “Femi and I were at the Secretariat in Alausa around 7 am and were doing a live video of the activities going on in the area. We were heading back to the expressway when a group of armed policemen accosted us at the Lagos State House of Assembly roundabout and immediately collected our phones. We showed them our ID cards, but they refused to let us go.

“What got the policemen annoyed was that we saw them using a stick and a rubber to beat a young man, and during the live video, they heard me saying that they were beating someone. So, after they arrested us, they tortured us and demanded that we should do another live video denying the statement, but we refused.

“Each Time we refused, they slapped us, used a stick to beat us, used the butt of their guns to hit our heads and bodies after stripping us of our clothes. All they wanted was for us to do another live broadcast to claim that we lied and we didn’t because we told the truth.”

Dawodu said it took the intervention of the state Police Public Relations Officer, Muyiwa Adejobi before they were released at the Alausa Police Station, adding that before their release, the policemen took their details, including their addresses, took a video record of them and threatened to go after them if any negative report was published about what happened.

He said, “The policemen were transferring the aggression of what is happening regarding the #EndSARS protest on us. They later took us to the Divisional Police Station in Alausa, and if not for the DPO, the policemen guarding the LSHA that arrested us would have done more grievous things to us.

“The PPRO and the DPO later spoke with them, and we were released.

“But despite his intervention, we were told to write statements. They collected our details, address, took video recordings of us making false statements during the torture, and threatened to use it to blackmail and go after us if we end up doing any bad report against them.”

Sahara Reporters

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

Lekki Concession Company in their press release has debunked the rumour that the Lekki Toll Gate CCTV camera was not removed.

Lekki, Ikoyi tolls will rise on February 1 – LCC - Ivory NG

According to the press release by the company which condemns the unlawful killings of the peaceful protesters said no one gave the order for the removal of the Closed Circuit Television System as the CCTV is still intact as of the time of this report.

Speaking further, the concession company revealed that if the CCTV was to be removed, it would require the use of machinery to reach the heights that they have been installed.

Read the release report below;

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