AIG IMOUKHUEDE SUBSIDY REPORT PDF

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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From October on the directive of Government, NNPC was allottedbarrels of crude daily for domestic consumption at the prevailing international market price. Civil society groups have condemned President Goodluck Jonathan for appointing Aigboje Aig-Imoukhuede, the Group Managing director of Access Bank, as chairman of the man committee to verify and reconcile all claims made in i,oukhuede report of a Technical Committee set up to review fuel subsidy payments.

In this article featured Other News. This site uses cookies: Strategic petroleum products were then sold at highly subsidised prices. These changes in conjunction with the lack of adequate reporg for dealing with violations including criminal activities and of a deterrent to prevent oil marketing and trading companies from making false subsidy claims in the PSF guidelines and the inclusion by PPPRA of oil marketing and trading companies that did not meet the eligibility criteria even after the above changes in the PSF guidelines created significant opportunities for abuse of the subsidy process.

Aig-Imoukhuede Committee unravels how petroleum subsidy was shared – SweetCrudeReports

Following the insistence by many Nigerians that the House report be implemented, the Federal Government set up the Technical committee headed by Mr. 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. June 26, 0.

There is an obvious need to regulate the roles of NNPC in the downstream sector in the import, refining, storage, supply, distribution and retailing of petroleum products. Of this amount, N21bn was cleared and that leaves Nbn as the sum in contention imoukuhede which the committee recommended that the process of recovery should be made.

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I will like to summarise them as follows: He said it called to question the credibility of people around the President. Previous Post Dana Air: The inability of PPPRA to use a transparent basis for the conversion factor from metric tonnes to litres used in the PPPRA template created opportunities for abuse in the determination of the volume of imported products for which subsidy should be paid.

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. In order to correct this situation, the Government has to implement at least one of the following options: The Committee recommends that the eligibility criteria for oil marketing and trading companies in the PSF guidelines should sybsidy revised by PPPRA to include the following: Abuse of the due diligence process for applicants to the PSF scheme, lack of transparency in the process for import allocations, payment of subsidies to oil marketing and trading companies in spite of lapses in presented documentation and the inability of PPPRA to use effective vessel tracking tools to verify the status and location of the inoukhuede supposedly used to import petroleum products and to compare such information with the details on presented bills of lading contributed to the creation of opportunities for abuse of the subsidy payment process.

There was no evidence that PPPRA excluded any oil marketing and trading company from the PSF Scheme for two successive quarters or more subzidy stated in the terms of the import permits from PPPRA in spite of the fact that there were various instances where oil marketing and trading companies did not import the allocated volume of petroleum products.

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Please click here if you are not redirected within a few seconds. The inability of PPPRA to use a transparent basis of determining the conversion factor created opportunities for manipulation of the volume of imported products for which subsidy was paid.

He described the appointment by Mr. They were interviewed by various panels constituted by the committee and the outcomes of these interviews are also captured in the report. Posted August 1, 0. In order to correct this situation, the Government has to implement at least one subsudy the following options:. The Committee recommends that all the affected oil marketing and trading companies found to subsjdy violated various aspects of the PSF guidelines as highlighted in this report should refund the subsidy payments for a total sum of N,, 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:.

Imoukhuede, Ice Energy Petroleum Trading Limited, was indicted by the House of Representatives committee which probed the fuel subsidy payments. Imoukhuede and subsequently, the new man committee.

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

NNPC refined the crude oil and sold the derived petroleum products at controlled and highly subsidised prices approved by the Government. Posted June 26, 0. Details of the Committee findings: Next Post Court stops FG from acting on subsidy probe report. The creation of the Petroleum Support Fund PSF in was therefore an effort at addressing the challenges in the subsidy scheme.

The PSF scheme was under-funded and therefore the NNPC used a combination of proceeds from its subsidised collections from products sales at the depots and the subsidy claims approved by PPPRA to settle the gross amount for the cost of subsisy oil it purchased.