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.
Oando Oil is owned by Wale Tinubu's Oando; Mike
Adenuga owns CONOIL, Femi Otedola owns AP, while
MRS Oil is run by Aliko Dangote's brother, Sayyu
Dantata. Other key players named today include
Pinaccle Construction Ltd, as well as Integrated Oil and
Gas, which is owned by a former Minister of the Interior,
Capt. Emmanuel Iheanacho.
The full list, and their individual haul, as read out by
Senator Abe, is as follows:
1. Oando Nigerian Plc. – N228.506 billion
2. MRS –N224.818 billion
3. Pinnacle Construction-N300 billion
4. Enak Oil & Gas –N19.684 billion
5. CONOIl – N37.960 billion
6. Bovas & Co. Nig. Ltd. – N5.685 billion,
7. Obat N85 billion and AP; N104.5billion.
8. Folawiyo Oil - N113.3 billion
9. IPMAN Investment Limited- N10.9billion
10. ACON - N24.1billion
11. Atio Oil-N64.4billion
12. AMP- N11.4billion
13. Honeywell-N12.2billion
14. Emac Oil- N19.2billion
15. D.Jones Oil-N14.8billion;
16. Capital Oil - N22.4 billion
17. AZ Oil- N18.613billion
18. Eterna oil- N5.57 billion
19. Dozil oil- N3.375 billion
20. Fort oil-N8.582 billion.
21. Integrated Oil and Gas- N30.777 billion
With reference to 2011, the companies named by the
Senate and the amount of money they have received this
year alone include Otedola's African Petroleum, N104.58
billion; A.A. Rano, N1.14 billion; A.S.B, N3.16 billion;
Arcon Plc, N24.116 billion; Aminu Resources, N2.3
billion; Avante Guard, N1.14 billion; Avido, N3.64 billion;
Boffas and Company, N3.67 billion; and Brilla Energy,
N960.3 million.
Others also listed are: 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; Integrated oil,
N30.777billion; AMP, N11.417 billion; Ascon, N5.271
billion; Channel Oil, N1.308 billion; Fort Oil, N8.582
billion; Enak Oil & Gas, N19.684 billion; IPMAN
Investment Limited, N10.9 billion; Atio Oil, N64.4billion;
AMP, N11.4billion; and Emac Oil, N19.2billion.
Findings by SaharaReporters correspondent indicate that
in 2006, only MRS, TOTAL and OANDO were officially
listed as beneficiaries of the fuel subsidy recognised by
the Federal Government. The three companies were said
to have been listed as "major marketers."
In the following year, 2007, AP and MOBIL joined the
three companies and became listed under the category
of majors. The same year NIPCO was introduced and
listed under the category of petrol depot owners. A new
category of "independents" included some marketers
who had no depots.
AITEO Energy Resources and TRIQUEST Energy were also
added in 2007, bringing the total to eight beneficiaries of
the fuel subsidy.
Our reporters gathered that the list of subsidy
beneficiaries increased sharply in 2008, rising to of 23,
including six majors. Also in 2008, CONOIL and NIPCO
were joined by Capital Oil and Folawiyo Energy, under
the category of depot owners.
The list of independents also increased from two in 2007
to 14 in 2008 as AITEO and TRIQUEST were said to have
been joined by TONIQUE Oil services, IMAD Oil & Gas,
Integrated Oil and Gas, Rahamaniyya, AMG Petro Energy,
Brittania, ACORN, A-Z Petroleum, SHIELD Petroleum and
MAJOPE Investment Limited.
And in 2010, while the beneficiaries of the subsidy
payment under the category of major marketers remained
steady at six and the depot owners remained two, the
list of independent marketers jumped up to 28, with the
curious inclusion of many relatively unknown and
unheard-of companies.
Competent sources said that the lion's percentage of
N1.426 trillion fuel subsidy for this year will go to
Otedola's AP, Wale Tinubu's OANDO, TOTAL, Sayyu
Dantata's MRS and And Mike Adenuga's CONOIL.
These revelations, which are certain to enliven
discussions about the management of the Nigerian
economy, come as the government of Mr. Goodluck
Jonathan prepares to withdraw the subsidy on
petroleum products next month.
Source: SaharaReporters.com
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