Saturday, 3 December 2011

Senate list out beneficiaries of fuel subsidy

The senate house of Nigeria yesterday list out of the rich man and women who are the beneficiaries of the fuel subsidy,why the topping list are Wale Tinubu’s Oando and Sayyu Dantata’s MRS Oil, Chairman of the committee, Senator Magnus Abe says that  companies in this list, are not even construction companies that have nothing to do with oil. He further observed that the companies were too many and put the credibility of their participatory process in question.He however differed from the figures – N1.426 trillion submitted by the Nigerian National Petroleum Corporation (NNPC) as subsidies on the products as at August 2011, arguing that the actual figure was N1.348 trillion.
            The full list, and their individual haul, as read out by Senator Abe, is as follows:
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

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