Fresh facts have emerged about how
Federal Government officials turned the Nigeria National Petroleum
Corporation (NNPC) into a cash cow. The final report of the Nuhu Ribadu
led Petroleum Revenue Special Task Force obtained by Peoples Daily revealed
details of movement of huge sums of money from the corporation’s accounts for loans and presidential
purchases outside its mandate.
The final report, dated November 1, 2012 and submitted to the Minister
of Petroleum Resources, Diezani Alison-Madueke also showed huge sums of
unremitted revenue with the NNPC and its subsidiary companies especially the
Department of Petroleum Resources (DPR) as well as the list of companies used
by brief-case contractors and government officials to steal the nation’s crude
oil.
The report, signed by Malam Nuhu Ribadu as Chairman and Olasupo Shasore
as Secretary/member, showed that the Federal Government used its powers to
direct the NNPC to release money for presidential purchases, sponsoring of
sporting activities, loans to foreign countries and other government
agencies.
Section 7 of the report which deals with the summary of outstanding
debts found by the task force in the course of its review, as at April 2012
shows that the NNPC was made to pay the sum of N2.230 billion for the purchase
of a chopper for the Presidency. The corporation was also made to pay N19.878
billion incurred on behalf of the Presidential Implementation Committee on
Maritime Safety and Security.
It also showed that the NNPC was made to pay out the sum of N2.421
billion to Royal Swaziland Sugar Company for yet to be verified reasons.
The report listed other expenses the NNPC was directed to pay for to
include the sum of N866.2 million for the “sponsorship of World Cup and
others”; loan to the Bureau of Public Enterprises (BPE), N798.6 million; loan
to Sao Tome and Principe, N700.5 million.
Others include payment for storage cost on illegal bunkering, N563
million; payment for expenses of the Federal Ministry of Petroleum Resources,
N521 million; payment of legal expenses of the case between South Atlantic and
the Ministry of Petroleum Resources, N250 million among others.
Also the report showed that the NNPC and DPR were yet to remit over
N1.377 trillion naira from discrepancies in crude oil sales, discrepancies in
exchange rate, concessions, signature bonuses and royalties among others.
The report said the NNPC was yet to remit the sum of $4.6 billion
arising from discrepancies in pricing of domestic crude sales from 2002 to
2011. The corporation, the report said has also not remitted the sum of N77
billion arising from exchange rate discrepancies from 2002 to 2011.
It indicted the DPR of failure to remit the sum of $3.027 billion being
outstanding royalties from operators at at December, 2011. The DPR, the report
said has also not remitted a total of $560 million from bid rounds from 2005 to
2007 as well as concession rentals of $183 million for allocations of 2008 to
2010. Also the DPR has not remitted $58 million balance from outstanding gas
flare penalty, the report said.
Giving details of how some unregistered companies were used to steal crude
oil from the country, the report indicated that many of them were foreign
companies that had no contract with Nigeria to lift crude.
The report listed the companies to include Ghana based Tema Oil
Refining, Petrobras, Itochu, Crossoil, Energem Petroleum Corporation,
Ovlas Trading, AMG Petro Energy, Safiya Global Investments Limited, INC Natural
Resources, Tristar, Emo Oil, Republic of Liberia, J&S Petroleum, OFSI
Limited, and Petroleum Corp of Jamaica.
The list also includes Ommart Limited, Dainom Nigeria Limited, AMG Petro
Energy, Tacorr, Roger Princeton, Rheinoel Limited, Sterling Oil Resources,
Makwande, Alpha Petro Worldwide, Abacus, Ommart, Ovlas, Sunoil Refinery, Ghana
National Petroleum Corporation, Mercuria, SPOG Petrochemicals, Sinclair Commercial,
Sullom Voe, Liberia, Petroleum, Tocomo Oil, Centro Energy, Republic of Benin,
Emo Oil, Arcadia, Overt Energy, Rheinoel Limited, and Sarb Energy.
Source: People’s Daily
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