AIG IMOUKHUEDE SUBSIDY REPORT PDF
Jonathan under fire for appointing Aig-Imoukhuede to subsidy verification panel in the report of a Technical Committee set up to review fuel subsidy payments. Oil Subsidy Cabal’s Plot to Rubbish Aig-Imoukhuede’s Report Uncovered!! *** Jonathan Directs EFCC to Arrest Subsidy Thieves. Aig-Imoukhuede committee submits preliminary report on fuel subsidy Jonathan on the verification of the fuel subsidy claims and payments.
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Website Notify me of follow-up comments by email. Posted May 16, 0. The inability of PPPRA to use a transparent basis for the conversion factor from metric tonnes to litres used in the PPPRA template created opportunities for abuse in the determination of the volume of imported products for which subsiry should be paid. Previous Post Dana Air: Posted June 26, 0.
Following the insistence by many Nigerians that the House report be implemented, the Federal Government set up the Technical committee headed by Mr.
A company owned by Mr. These changes in conjunction with imoukheude lack of adequate provisions for dealing with violations including criminal activities and of a deterrent to prevent oil marketing and trading companies from making false subsidy claims in the PSF guidelines and the inclusion by PPPRA of oil marketing and trading companies that did not meet the eligibility criteria even after the above changes in the PSF guidelines created imoukuede opportunities for abuse of the subsidy process.
The creation of the Petroleum Support Fund PSF in was therefore an effort at addressing the challenges in the subsidy scheme. The Committee recommends that the determination of the conversion factor of PPPRA be made transparent to eliminate manipulation of the volume of import products for which subsidy should be paid.
Nigeria to revamp mines, steel sector Next. By Afolabi Ogunde on July 25, Strategic petroleum products were then sold at highly subsidised prices. Jonathan and other actions and statements of the President as steps that are taking Nigeria backward. Imoukhuede and subsequently, the new man committee. The imbalance created by the arrangement led to the introduction of the subsidy scheme in existence today. February 21, He described the appointment by Mr.
Aig Imoukhuede Subsidy Committee head subsidy fraud. Ice Energy had aib to either appear or submit documents to the House committee.
The inability of PPPRA to use a transparent basis of determining the conversion factor created opportunities for manipulation of the volume of imported products for which subsidy was paid.
Details of the Committee findings: I will like to summarise them as follows: At that time, the subsidy was paid based on the difference between the price at which NNPC sold to the marketing companies and the cost of crude oil refining. The PSF scheme was under-funded and therefore the NNPC used a combination of proceeds from its subsidised collections from products sales at the imoukhusde and the subsidy claims approved by PPPRA to settle the gross amount for the cost of crude oil it purchased.
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Aig-Imoukhuede Committee unravels how petroleum subsidy was shared
In addition, oil marketing and trading companies must comply with the guidelines going forward. THE revision of the eligibility criteria for oil marketing and trading companies in the PSF guidelines by PPPRA amended the requirement for the proof of ownership of storage facilities with a minimum storage capacity of 5,MT for the particular product to include a valid throughput agreement of storage facility with a minimum storage capacity of 5,MT for the particular product.
Posted October 19, 0. The Committee recommends that the eligibility criteria for oil marketing and trading companies in the PSF guidelines should be revised by PPPRA to include the following: This opened up opportunities for participation by companies with no investment in infrastructure relevant to the role on oil marketing and trading companies in the PSF scheme. The Committee recommends that all the affected oil marketing and trading companies found to have violated various aspects of the PSF guidelines as highlighted in this report should refund the subsidy payments for a total sum of N,, Addressing State House correspondents in Aso Villa yesterday after the committee tendered their report to the President, the Chairman said the companies involved were 21 and refused to reveal their identities.
There was no evidence that PPPRA excluded any oil marketing and trading company from the PSF Scheme for two successive quarters or more as stated in the terms of the import permits from PPPRA in spite of the fact that there were various instances where oil marketing and trading companies did not import the allocated volume of petroleum products.
The Committee was unable to examine all the above to the extent required and therefore recommends that the Federal Government appoints consultants to carry out the forensic audit of the NNPC subsidy claim process. He said it called to question the credibility of people around the President. They were interviewed by various panels constituted by the committee and the outcomes of these interviews are also captured in the report.
The Aig-Imoukhuede-led committee report on subsidy – integrity nigeria
Of this amount, N21bn was cleared and that leaves Nbn as the sum in contention for which the committee recommended that the process of recovery should be made. June 23, He said the relort had built an airtight case that would be difficult to challenge in court, and he said the President displayed unique wisdom in staffing the committee with technocrats who have vast experience.
He disclosed that the committee also recommended total subsidh to the Presidency as the way out of the subsidy fraud. Posted October 19, 1.
Posted October 20, 2. While the Committee conducted detailed reviews of several aspects of the subsidy payment process, it is noted that the process for NNPC is significantly more it- than the process for the private sector and would require a thorough forensic audit covering but not limited to the following:.
Imoukhuede on both the technical committee and the man panel has already discredited whatever report emanates from them.
From October on the directive of Government, NNPC was allottedbarrels of crude daily for domestic consumption at the prevailing international market price. The Aig-Imoukhuede led committee charged with verification and reconciliation of fuel subsidy claims and payments has indicted 21 firms of committing subsidy fraud aaig the tune of N billion and recommended their prosecution to the Presidency.