A Review of the Nigerian Energy Industry

Subsidy scam: List of indicted firms rises to 25

23 August 2012, Sweetcrude, ABUJA – THE number of oil marketers indicted in the Aig-Imoukhuede-led subsidy probe and subsequently recommended for further criminal investigation in the subsidy report has risen to 25, according to a statement by the Ministry of Finance.

The statement issued Wednesday by Mr. Paul Nwabuikwu, the Senior Special Assistant to the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said 25 oil marketers were listed as having been “recommended for criminal investigation.”

Nwabuikwu said the new number of 25 has been confirmed by the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments headed by Aig-Imoukhuede.

The four new marketers that were omitted initially include Ceoti Limited, Capital Oil Plc, Masters Energy Oil and Gas Ltd, and Heyden Petroleum Limited.

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