Mr. Nuhu Ribadu, the pioneer chairman of the Economic and Financial Crimes Commission (EFCC) has been named at the head of a Petroleum Revenue Special Task Force set up by the Minister of Petroleum Resources, Mrs. Dieziani Alison-Madueke.
A government statement today said that the new task force is “Consistent with the policies and promises of President Goodluck Ebele Jonathan's Administration, and underpinned by the yearnings of the people of Nigeria for transparency in the Petroleum Industry.”
_(Reportedly delivered at The Latter Rain Assembly)
To subsidise is to sell a product below the cost of production. Since the federal government has been secretive about the state of our refineries and their production capacity, we will focus on importation rather than production. So, in essence, within the Nigerian Fuel Subsidy context, to subsidise is to sell petrol below the cost of importation.
2) THE UNSUBSTANTIATED CLAIMS OF THE FEDERAL GOVERNMENT
The Nigerian government claims that Nigerians consume 34 million litres of petrol per day. The government has also said publicly that N141 per litre is the unsubsidised pump price of petrol imported into Nigeria. (N131.70 kobo being the landing price and N9.30 kobo being profit.)
____ Chimamanda Ngozi Adichie
ON New Year’s Day, in my ancestral hometown of Abba in Anambra State in eastern Nigeria, my family and I woke up to unbelievable news: the price of petrol had doubled. Overnight, the government had removed what it called the subsidy on fuel, and almost immediately, transport fares exploded and food prices rose astronomically. It used to cost 4,000 naira — about $25 — to fill my petrol tank. Then it cost 10,000 naira. When I stopped to buy okpa, a steam-cooked bean dish, from a street hawker, she said it was no longer 50 naira; it was now 100.
“Why?” I asked.
When I read about Pastor Tunde Bakare’s call for the impeachment of President Goddluck Jonathan, my first impulse was to say: Oh yes! About time! Why, let us remove the bubblehead president, revert the ill-conceived subsidy removal scam, and live in peace and prosperity as we have been doing hitherto. Except that, I will not be acting on my first impulse, or any such impulse, and neither should Tunde Bakare, or any other subscriber to the notion of impeachment. The reason is; it is a dangerously combustible and deadly substance . I will explain anon.
__Below are just a few of the demands made in a draft charter written at the weekend by Civil Society groups, including Occupy Nigeria which has been at the forefront of protests, demanding more comprehensive reform:
A return to the pump price for petrol of N65.
Independent investigation, publication and prosecution of the N1.6 trillion ($992bn) payment for petroleum subsidy in 2011, and recovery of at least N1 trillion suspected to be fraud.
Negotiate with all stakeholders a roadmap for the full deregulation of the downstream oil and gas sector with clear timelines.
Enact the original, undiluted version of the Petroleum Industry Bill into law within 3 months.
Explain how the N1.1 trillion deficit in the budget will be financed.
Reduce the National Assembly budget of N159 billion to not more than N50 billion
Eliminate or reduce wasteful spending proposals on various security votes, welfare packages, food, vehicles, furniture, software, research and development, travel, etc.
Reduce recurrent portion of the overall budget to not more than 60%.
The voluntary donation of 50% of the salaries and allowances of all political office holders in the executive and legislative branches of the government
Reduction in the number of ministers to 37 – one for each state and the FCT.
Read the entire article, here.
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_ In the middle of a mass resistance that has virtually shut down Nigeria in response to the government’s abrupt January 1 withdrawal of a subsidy on oil, a previously-unreleased United States 2009 Wikileaks cable has emerged which indicates official manipulation that may have cost Nigeria billions of dollars.
According to the cable [C O N F I D E N T I A L SECTION 01 OF 02 LAGOS 000767 SIPDIS NOFORN E.O. 12958], the scandal concerns prices paid by the government for imported fuel, as international fuel traders, taking advantage of massive corruption loopholes in Nigeria, engaged in falsifying the dates of bills of lading to reflect particularly high market prices. By so doing, they overcharged the Nigerian National Petroleum Corporation (NNPC) by over $300 million.
WHY ARE WE DOING THIS NOW?
Let us remind ourselves the reason for this showdown. It is not about subsidy, I keep repeating this fact. It is about the following indices that make our government big, wasteful and ineffective:
Big and overblown governments at all levels.
Over twenty Special Advisers (on what?).
Every minister is entitled to 4 Special Assistants.
_Forwarded via e-mail by Akanmidot
Dr Levi Ajuonuma resigns as NNPC's Group General Manager, Corporate Affiars. His words: "I have followed the subsidy debate/protest and must confess that we at NNPC have not helped in the fight against corruption. I can authoritatively say that the N1.3trillion is not the true figure but given as a result of the corrupt tendencies of the cabal. This astronomical increase in 2011 was purely political. Also, our local consumption figure as published is absolutely incorrect.
For the sake of my children and children's children, we must investigate this fraud. From PPPRA, to NNPC, Independent Marketers, Port Authorities, retired Generals and Other top government officials. Although, the whole fraud existed before 2007, the reasonable take off should be 2007 to date.
Consequently, I have decided to resign my appointment as the Group General Manager, Corporate Affairs of NNPC."
_Forwarded via e-mail by Akanmidot
Oando Oil, CONOIL, African Petroleum and MRS Oil are among the powerful players in the petroleum sector that have shared over N3.655 trillion between 2006 and September 2011 in pursuit of importation of refined petroleum products.
This was revealed today in Abuja by the Nigerian Senate joint Committee on Petroleum (Downstream), Appropriation and Finance.
Senator Magnus Ibe, the chairman of the committee, also disclosed that some 100 companies in the downstream sector and in construction, shared over N1.426 trillion between January and August 2011 alone.