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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The Aig-Imoukhuede-led committee report on subsidy – integrity nigeria

Imoukhuede, Ice Energy Petroleum Trading Limited, was indicted by the House of Representatives committee which probed the fuel subsidy payments. The Committee recommends that the repotr of the conversion factor of PPPRA be made transparent to eliminate manipulation of the volume of import products for which subsidy should be paid.

In order to correct this situation, the Government has to implement at least one of the following options:. Imoukhuede on both the technical committee and the man panel has already discredited whatever report emanates from them.

There is an obvious need to regulate the roles of NNPC in the downstream sector in the import, refining, storage, supply, distribution and retailing i,oukhuede petroleum products.

So, the actual amount that was being verified is Nbn. 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. 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.


Aig-Imoukhuede Committee unravels how petroleum subsidy was shared

The creation of the Petroleum Support Fund PSF in was therefore an effort at subsldy the challenges in the subsidy scheme. Next Post Court stops FG from acting on subsidy probe report. In this article featured Other News. Previous Post Dana Air: In order to correct this situation, the Government has to implement at least one of the following options: 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.

These opportunities were clearly exploited by both the operators and the regulators of the process to the detriment of the country.

February 21, A company owned by Mr. 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,, This shall be a deterrent against the presentation of false subsidy claims by oil marketing and trading companies and provide recourse to the banks if subsidy was on the basis of false claims.

The Aig-Imoukhuede-led committee report on subsidy (4)

Lagos lawyer, Jiti Ogunye, believes that the presence of Mr. Aig-Imoukhuede Committee unravels how petroleum imoukhueede was shared July 2, Website Notify me of follow-up comments by email.

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 imoujhuede limited to the following:.


There has been no consensus among the three tiers of Government Federal, State and Local to support the funding of the PSF since its creation in Obviously, subsiey first is the recovery of the said amount. Subisdy lawyer stated that by choosing the bank boss to chair the committee, Mr. This site uses cookies: He described the appointment by Mr.

Prior to Novemberdomestic crude was sold to NNPC at a discount in terms of price as well as exchange rate.

The Aig-Imoukhuede-led committee report on subsidy (4) – Vanguard News Nigeria

August 1, 0. There was no documentary evidence that this process was duly authorised by law, by the PSF guidelines or by any duly designated Government agency and there is therefore no legitimate backing for the current practice. Posted May 16, 0. Posted October 20, 2. 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 the eligibility criteria for oil marketing and trading companies in the PSF guidelines should be revised by PPPRA to include the following:. Imoukhued June 26, 0.

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