A Review of the Nigerian Energy Industry

Subsidy fraud: Indicted oil marketers begin repayment

Ben Agande

24 August 2012, Sweetcrude, ABUJA — SOME oil marketers, indicted for illegally collecting over N400 billion subsidy fund for fuel they did not import, have started refunding the money.

Governor Peter Obi of Anambra State, disclosed this at end of the National Economic Council meeting Thursday in Abuja, saying his fellow governors were excited that the Federal Government’s effort at curbing corruption in the fuel supply chain had started to yield result as some marketers had started to make refunds.

The governors of the 36 states of the federation at the meeting voiced their backing for the Federal Government in the efforts to recover the subsidy claims from the marketers.

According to Obi, Nigerians need to show understanding by supporting the government’s efforts at recovering the funds.

He said: “The National Executive Council, NEC, commended the Federal Government on its present stand in the prosecution of those who were wrongly paid subsidy money and on the need for them to refund it fully. From the report we got today, some have started refunding.

“It is a serious case that people were paid for vessels that were not anywhere near the Nigerian waters. And I think when Federal Government does a thing that is courageous and right, it should be encouraged and that can, at least, give it the courage to do more.

“So, we support the Federal Government in the effort to clean up the entire value chain and process of petroleum industry; they have our full support.”

Also, Dr. Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance, briefed NEC on the progress being made by the Subsidy Reinvestment Programme’s youth engagement and employment initiative, announcing that the meeting endorsed the plan to launch the programme in the states to sensitise the people on the processes of job selection and payment to beneficiaries, beginning from September 6.

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  • This is good to hear, let’s see how much money the government can recover.

  • My problems is that, after the recovery you would not hear a single project being executed with the said Fund recovered, because we had seen cases like that.

  • Nigeria as a country is just like a shop owner who has no invoice, no sales book and no expensive book, not even a calculator to check home much he makes and how much he spends…..And my question is,who authorized the release of those funds to the said criminals? if i have to pay someone to render a service i think i equally stand the chance of making sure that i get what i paid for. Now, when these monies were paid and the vessels were not anywhere near the Nigerian waters, can someone tell me why is it that the people who took these monies have not been in the jail until now? including the people who paid the said monies to the??. SHAME!!!!!!!!!!!

  • Repayment will not end the matter. They must be punished and severly dealt with.Or is the govt telling us that we are free to steal as long as we re willing to make refunds’if'(not when) we re caught.Moreover can these oil criminals be able to repay the lives which were destroyed as a result of their wicked activities over the years in the oil industry?

  • Nigerians needed to be well inform of the indicted companies names, how much they are indicted of and how they are returning.