How Much Does Subsidy Cost?

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victor emejuiwe (Leadership Newspapers) Sep 8, 2014 | Leave a comment In 2014 budget, the sum of N971 billion was appropriated for fuel subsidy; this is close to the annual sum appropriated for capital projects. Can this be the real amount paid to oil marketers as subsidy, for importing refined crude across the country? If […]

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FUEL SUBSIDY MALPRACTICE REPORT

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INTRODUCTION/BACKGROUND Fuel subsidy was introduced as a temporary measure in 1988 by the Federal Government of Nigeria as part of its structural Adjustment Program (SAP), to among other things stabilize price of petroleum products and stop gap measure as refineries underwent rehabilitation. Since then, the government started subsidizing the pump price of petroleum products, such […]

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EFCC Re-Arraigns 8 Suspected Oil Thieves

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Justice Abang admitted the accused persons to bail on terms previously offered by court and adjourned the case to August 29, 2014, for continuation of trial. BY SAHARA REPORTERS -AUG 28, 2014 The Economic and Financial Crimes Commission EFCC, on Thursday August 28, 2014, re-arraigned Adedamola Ogungbayibi, Olaniran Olabode, Suraju Gasali, Moses Emmanuel, Wilson Bonsi, […]

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EFCC Re-arraigns 8 Suspected Oil Thieves

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28 Aug 2014 Paul Obi The Economic and Financial Crimes Commission (EFCC) Thursday re-arraigned eight persons alleged to have defrauded the federal government of billions of naira on petroleum products. The accused arrested include Adedamola Ogungbayibi, Olaniran Olabode, Suraju Gasali, Moses Emmanuel, Wilson Bonsi, Padoun Kayode Jacob, Okparaodi Omaka Uche and Onyeogo Happy. The accused […]

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EFCC’s N5bn and the race against oil thieves

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August 28, 2014 Steve Ayorinde As far as the knotty issue of petroleum subsidy fraud is concerned, Nigerians cannot afford to take their eyes off the ball. Apprehension and prosecution of fraudulent persons and organizations, in addition to recovering the loot from them, should be important components of any effort aimed at sanitizing the oil […]

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Nigerian oil theft: FG, US probe Ghana, Europe’s connection

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By: Charles Okonji August 28,2014 Strong indications have emerged that the Federal Government and the United States have launched full investigation into smuggling of the Nigerian crude oil through Saltpond platform in Gbana. Information gathered revealed that several thousands of barrels, which were supposedly pilfered from Nigeria, made their way to global markets through Saltpond […]

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EFCC Challenges Lashann Energy to Provide Evidence of Sale of Stolen Crude Oil

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25 Aug 2014 EFCC Logo Fenix Impex denies any involvement Paul Obi in Abuja Following reports by the Wall Street Journal (WSJ) regarding investigation by the United States Government into the alleged sale of stolen crude oil from Nigeria to a Ghana-based company, the Economic and Financial Crimes Commission (EFCC) has challenged claims by Lashann […]

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US Beams Searchlight on Ghana’s Saltpond Platform over Stolen Crude

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24 Aug 2014 By Ejiofor Alike and Paul Obi with agency report The United States government has launched investigation into crude oil shipments from Saltpond platform, a small oil facility off the coast of Ghana, due to strong suspicion that some of Nigeria’s stolen oil may be exported through the facility. The majority owner of […]

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REPORT OF ANEEJ/J4A TOWN HALL MEETING HELD IN ABUJA

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INTRODUCTION The Africa Network for Environment and Economic Justice (ANEEJ), with support from Justice for All (J4A) organised a town hall meeting on August 13, 2014 at the Vines Hotel, Abuja. The town hall meeting was part of activities of ANEEJ “Advocacy against impunity in oil subsidy regime in Nigeria” project. Over 40 participants drawn […]

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EFFC recovers N5bn oil subsidy money

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By Chidinma Eze on August 18, 2014 EFCC The Economic and Financial Crimes Commission (EFCC) has so far recovered about N5billion (five billion naira) from persons and organisations in connection with the fuel subsidy scam. Mr. Wilson Uwujaren , Head Media and Publicity in the agency, made this disclosure on Wednesday, August 13, 2014 during […]

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