Welcome to Linda Ikeji's Blog

News, Events, Entertainment, Lifestyle, Fashion, Beauty, Inspiration and yes... Gossip! *Wink*

Saturday, 3 December 2011

Senate announces the names of those benefiting from oil subsidies

Yesterday Dec 2nd, the Nigerian Senate announced the names of those Nigerians who are benefitting from our oil commonwealth...names of companies that shared N1.4 trillion petroleum subsidy funds.

The Senate's joint committee probing the management of petroleum subsidy funds disclosed at an investigative hearing that over 100 companies including construction companies participated in the sharing of N1.426 trillion between January and August 2011, a figure that contradicts that of the Petroleum Product Pricing Regulatory Agency, which it put at N1.348 trillion.

The full list, and their individual haul, as read out in the Senate yesterday, when you continue...



1.    Oando Nigerian Plc. – N228.506 billion
2.    MRS –N224.818 billion
3.    Pinnacle Construction-N300 billion
4.    Enak Oil & Gas –N19.684 billion
5.    CONOIl – N37.960 billion
6.    Bovas & Co. Nig. Ltd. – N5.685 billion,
7.    Obat N85 billion and AP; N104.5billion.
8.    Folawiyo Oil - N113.3 billion
9.    IPMAN Investment Limited- N10.9billion
10.    ACON - N24.1billion
11.    Atio Oil-N64.4billion
12.    AMP- N11.4billion
13.    Honeywell-N12.2billion
14.    Emac Oil- N19.2billion
15.    D.Jones Oil-N14.8billion;
16.    Capital Oil - N22.4 billion
17.    AZ Oil- N18.613billion
18.    Eterna oil- N5.57 billion
19.    Dozil oil- N3.375 billion
20.    Fort oil-N8.582 billion.
21.    Integrated Oil and Gas- N30.777 billion

Culled from Daily Times

38 Comments:

  • At 3 December 2011 at 10:07 , Anonymous Anonymous said...

    like we will do anything about it. we spineless Nigerians.

     
  • At 3 December 2011 at 10:09 , Anonymous Anonymous said...

    Awon ole buruku

     
  • At 3 December 2011 at 10:16 , Anonymous Anonymous said...

    God Punish Those That increase the sufferings of Nigeria in the Name of Subsidy by Allowing the Petroleum to Overstay at Port Claiming demurage and Other Charges From our National Purse only for them to Share it as shown above! Shango,Ogun,Obatala,Amadioha,Esu and other Dieties Including Lord Jesus and Prophet Muhammed and so on Shall All Punish Them In the Name of God Almighty! Amen!!

     
  • At 3 December 2011 at 10:22 , Anonymous Osagie1 said...

    Dis senators are jobless. No by to day office. Cnt dey act instead of talk.

     
  • At 3 December 2011 at 10:33 , Anonymous Anonymous said...

    Very good. I'm glad that the first time ever, this list has been published. Now y'all know why you don't have electricity, water, good education, hospitals, good roads, etc, in Nigeria. It would be nice to list names of the directors, state of origin and the political parties of each company. I can promise you that this list is part of reason why Arewa Consultative Forum (AFC), Fulani / Hausa people and Boko Haram having been trying to ensure never gets published. They have been for many years been robbing Nigeria blind. They all deserve to be closed down and the directors hanged. The owners of those companies are predominantly Hausa / Fulani people. May they all rot in hell.

    All fuel subsidies must be removed with immediate effect.

     
  • At 3 December 2011 at 10:58 , Anonymous Anonymous said...

    Okay, so what next? Shake body senate. Where do we go from there and watch a gonna do to better the lives of Nigerians as regards to this?

     
  • At 3 December 2011 at 11:14 , Anonymous Anonymous said...

    Please can someone explain in layman's term what the process is? I don't understand...the govt is paying these companies to lower the cost of fuel to nigerians? I live abroad but I have been hearing about this debate without fully getting the gist of the matter. Thx

     
  • At 3 December 2011 at 12:16 , Anonymous mully said...

    God forbid no one will rot in hell, how can you be swearing for people you don't know. better be careful coz karma is a bitch, when u are making your own money thats how someone out there would swear for you too.

     
  • At 3 December 2011 at 12:41 , Anonymous Anonymous said...

    want to comment on somethingelese.Its time Terry G the akpako master be cured of his sickness.He came to malaysia only to start fighting with bottles with some yoruba boys.I wonder the type of celebrity he is

     
  • At 3 December 2011 at 12:56 , Anonymous Anonymous said...

    ANon 10:33am. Thieves in the country come from all tribes. Siddon there. Even the naija delta people, it's their own people that are robbing them.

     
  • At 3 December 2011 at 13:26 , Anonymous Anonymous said...

    to all of you guys cursing Hausa/Fulani/Arewa people, the vast majority of the beneficiaries on this list are companies owed by southerners. As for these people robbing nigeria blind, I am more inclined to blame ordinary people for sitting down and allowing those at the top to get away with corrupt behavior. Unless Nigerians sit up and take to the streets in huge numbers to demand their rights, there is no point cursing, abusing, or raining all sorts of things on those at the top. You only have to read comments such as those made by Anonymous@10.16AM on Dec. 3, 2011 to understand why Nigeria has not made any progress- mixing paganism, Christianity and Islam together in his/her curse. As for Osagie1, here is he blasting senators but the only thing he can do is to write a comment blasting them- if we ordinary people don't act, why should we expect our senators to act? At least the senators are getting down to the business of trying to improve the decision making process but whether Nigerians are ready for change is another matter entirely.

     
  • At 3 December 2011 at 13:48 , Anonymous Anonymous said...

    all they have to do is remove the oil subsidy for companies...leave individuals to pay the regular price - re-write the rules...isn't it that easy??? you have listed the people benefiting find a way to make them stop benefiting and transfer those benefits to the individuals.
    z

     
  • At 3 December 2011 at 14:36 , Anonymous Anonymous said...

    and the point of the article is?
    it is not enough to announce the names of those who are benefiting from the subsidy. what i want to know is if they are doing so wrongly. is nigeria actually losing money to them? are they collecting money without doing anything? if yes what are the amounts?
    until these questions are answered the article and others like it are just attempts to make the idea of subsidy removal look good. and so far i have not been convinced

     
  • At 3 December 2011 at 15:16 , Anonymous Anonymous said...

    @anonymous, what has Arewa Consultative Forum got to do with this?

    Have you been to the North, ever? BTW the largest company Oando is run by Tinubu who is definitely not a Northerner...

     
  • At 3 December 2011 at 15:19 , Anonymous Anonymous said...

    until nigerian youths take up to the streets like....egypt, tunisia nothing can ever happen....

    the yoruba's are baby minded and would never go to war...
    the igbos for fear of ethnic cleansing as the only full and true christian tribe in africa would never fight again....

    it is only a fool that believes that africa .....apart from south africa would be like europe within the next 100yrs

     
  • At 3 December 2011 at 15:50 , Blogger tucTalk said...

    Wonders will never end.....

    Check out more wonders at www.tuctalk.blogspot.com

     
  • At 3 December 2011 at 16:13 , Blogger Str8FrmDaHips said...

    Shebi!!..na oil subsidy dem dey carry throw exhorbitant weddings/lifesyle in the midst of all that poverty!!..and y'll praise them to high heavens!!..when u comment sef..dem no go print your post!!..that country is like a ticking bomb!!..too many young people unemployed cannot be healthy!!..The Northerners have morphed into Boko Haram with small change..what would the Southerners do!!..after getting bored with BB..yahoo..runs..armed robbery??

     
  • At 3 December 2011 at 16:40 , Anonymous Anonymous said...

    Why do Nigerians react like this, firstly if they are getting the nations money then someone with the power to distribute has been giving it to them.......it's like fighting a druggie and not their supplier. 2ndly it is until it reached the hundreds of billions that the government is waking up???????? Come on who is fooling who????
    Me i no be mugu, there is a reason behind these numbers and they should tell the complete story not bits of it.

     
  • At 3 December 2011 at 17:55 , Anonymous Anonymous said...

    www.bymtress.com. Check it out. Also view the catalogue for different types & styles.

     
  • At 3 December 2011 at 19:41 , Anonymous Anonymous said...

    The Senate is being economical with the truth... The reason that these institutions derive any money from subsidy is because they take the risk to import fuel and yet have no control over the price of the product because Government insists fuel must be sold at a certain price. Yet, Government is ever so inefficient in reimbursing them and in creating functional refineries or the enabling environment for them to build their own refineries so they dont have to import. Reality is these major institutions are the ones clamouring for removal of subsidy because they fed up with dealing with government and NNPC.

     
  • At 3 December 2011 at 19:58 , Anonymous Anonymous said...

    Oando's GCE is Wale Tinubu. He is featured on the 2nd Edition of Forbes Africa. Google: Wale Tinubu. He's a billionaire while so many Nigerians can't even afford a decent meal a day.

    EFCC should lock up all of them.

     
  • At 3 December 2011 at 20:40 , Anonymous Anonymous said...

    Naija!!!!!
    Wetin construction company get to do with Oil subsidy?????? and they have the highest N300bn..
    Hope u can see where all the money for celebrity weddings dey come from...

     
  • At 3 December 2011 at 20:41 , Anonymous Anonymous said...

    BOVAS OIL??? No wonder her kids are buying houses all over Ikoyi...

    and she's from Ibadan b4 u think na hausa family...

     
  • At 3 December 2011 at 21:11 , Anonymous NAIJA BOY said...

    MRS-aliko dangote
    FORTE OIL-femi otedollar
    AP-femi otedollar
    CAPITAL OIL-ifeanyi ubah
    OANDO-wale tinubu nd mofe boyo
    OBAT OIL-oba akinruntan
    HONEYWELL-oba otudeko
    CONOIL-adenuga
    IPMAN-independent petroleum marketers of nigeria...hausa people deal only wit oil block e.g GEN TY DANJUMA nd co oil block no get risk nd importing get risk cos ur ship fit capsize or hijacked by somalis..thank u
    FOLAWIYO-folawiyo family of lagos

     
  • At 3 December 2011 at 21:14 , Anonymous Emy said...

    Nigerians wont do shit. the subsidy will go, fuel prices will go up and u guys wont do shit. all you can do is rain ineffective curses on them while they continue to kill you people slowly through bad road, hunger, diseases and terrorism. All you can do is pray fruitlessly and sow seed in church instead of fighting and dying for your right to life. because the life ur protecting will be taken from you by these wicked people who rule you guys.

     
  • At 3 December 2011 at 23:20 , Anonymous olusegun said...

    MRS na runner up?? Yet their gas stations look like a refugee camp with old ass pumps and rickey machines. They can't brush up the look of their stations? SMH! Maintanance is not that expensive!

     
  • At 4 December 2011 at 01:43 , Blogger Mena UkodoisReady said...

    Thanks Anonymous December 3, 2011 4:40 PM and December 3, 2011 7:41 PM for both explanations. The names are not much of a surprise but the amount is mind boggling, how much injustice we swallow in this country *see http://efemenaoreoluwa.blogspot.com/2011/02/african-when-he-is-child-is-mostly.html * the best we can do is curse quietly infront of our bb, laptops ipads etc..or maybe kola animashaun was right in saying there are 3 types of Nigerians. Those that have benefitted immensely from corruption, those who are currently benefitting from it and those impatiently waiting for their opportunity to benefit from corrupt practices!


    Senate has announced this piece, lets watch this space....

     
  • At 4 December 2011 at 01:48 , Anonymous Anonymous said...

    anon@3:19PM you nailed it GBAM!!!!

     
  • At 4 December 2011 at 01:54 , Anonymous Anonymous said...

    can someone please explain to me what this petroleum subsidy means???

     
  • At 4 December 2011 at 02:00 , Anonymous Twitter War: Kardashians !!! said...

    Teen Mom Star Starts Twitter War With Kardashians & Demi Lovato

    http://perezhilton.com/2011-12-03-teen-mom-kardashian-twitter-war#.TtrEZYlYCc0

     
  • At 4 December 2011 at 03:42 , Anonymous Anonymous said...

    This senate report is deceptive. The N1.426bn includes the actual subsidy to enable these companies sell petroleum below cost. Most of the money is used for the actual procurement of PMS. Our government is using sentiments to deceive Nigerians to accept the subsidy removal policy so that the N1.426bn burden is transferred to us and consequently, giving them more money to play with.

     
  • At 4 December 2011 at 08:05 , Anonymous UK Church Bans Gay Marriage said...

    Church of England bans gay marriage and civil partnership ceremonies.

    The Church of England has said it will not permit civil partnership ceremonies to be held in its churches unless it is given permission by the General Synod.

    UK Church Bans Gay Marriage
    http://goo.gl/EdSwu

     
  • At 4 December 2011 at 13:34 , Blogger Str8FrmDaHips said...

    Yeah get the Southerners\Westerners get to front the companies and we all know how flamboyant they are whilst the Paymasters the Ex Military Leaders and others like Rilwan Lukman sit back and let their lackeys take the heat!!..
    This information should be available that is who the major shareholders are..this information is in the public domain as long as the company is Trading and LISTED!!

     
  • At 4 December 2011 at 13:41 , Blogger Str8FrmDaHips said...

    In Developed countries they heavily subsidize industries that export goods e.g Agriculture..how in hell can you subsidize IMPORTS!!..should be the other way round..give subsidies/tenders to local/foreign firms to erect Refineries..then export that oil=WIN WIN..for all!!..but no F***king 9ja Leaders are so clueless..callous and corrupt..150 million..70% Young people..u cannot put down 4eva!!

     
  • At 4 December 2011 at 23:15 , Blogger palominose said...

    This subsidy stuff is so confusing,if the government plan to save money with the removal of subsidy,what happens to the money afterwarrds?does it go to their offshore accounts or to actually building or fixing our refineries? Na wah o these people really take us for granted sha.God help us

     
  • At 5 December 2011 at 09:07 , Anonymous Anonymous said...

    Runs girls have new targets now. The info is useless, not like they going after them for the money.

     
  • At 5 December 2011 at 14:26 , Anonymous Anonymous said...

    EVEN BOVAS NO WONDER THEY LIVE LIKE KINGS WITH NOTIN DOING....... THIS LIFE SEF.........

     
  • At 5 December 2011 at 21:54 , Anonymous Anonymous said...

    this National Assembly is using the heads og Nigerians. They come out to reject the removal of the fuel subsidy and yet went ahead to print the names of the fuel subsidy culprits. So, what should we do??? support the fuel subsidy removal or resist it?? they are about to enjoy a good show, especially now that the presidency will go ahead to remove the fuel subsidy, with or without the legislators' approval.

     

Post a Comment

Subscribe to Post Comments [Atom]

<< Home