President Jonathan to Receive Committee Report Friday

{idkey=3703b0[url=http%3A%2F%2Fwww.nigeriavillagesquare.com%2Fpress-releases%2Fpresident-jonathan-to-receive-committee-report-friday.html][title=President+Jonathan+to+Receive+Committee+Report+Friday][desc=]}
{cmp_start idkey=5484[url=http%3A%2F%2Fwww.nigeriavillagesquare.com%2Fpress-releases%2Fpresident-jonathan-to-receive-committee-report-friday.html][title=President+Jonathan+to+Receive+Committee+Report+Friday][desc=]}
In furtherance of the administration’s commitment to transparency, probity, and accountability in the petroleum sector, President Goodluck Jonathan has directed that a comprehensive report of the Petroleum Revenue Special Task Force chaired by Mallam Nuhu Ribadu should be presented to him this week.
The Committee which was set up in February 2012, was required to, among other tasks, determine and verify all petroleum upstream and downstream revenues (taxes and royalties, etc,) due and payable to the Federal Government of Nigeria, and to take all necessary steps to collect all debts due and owed; to obtain agreements and enforce payment terms by all oil industry operators.
The presentation of the Committee’s report will take place on Friday, November 2, at 11 am, at the State House, Abuja.
Special Adviser (Media &Publicity) to the President
October 29, 2012
{cmp_end}
{idkey=3703b1[url=http%3A%2F%2Fwww.nigeriavillagesquare.com%2Fpress-releases%2Fpresident-jonathan-to-receive-committee-report-friday.html][title=President+Jonathan+to+Receive+Committee+Report+Friday][desc=]}


1 2 3 4 5 6 7 8 9 10 11 12 13
Authority Stealing!!!
Obugi posted on 10-25-2012, 08:50:50 AM
People,

I already explained this stuff on so many occasions, but at least we have it from Saint Ribadu.

QUOTE:


If indeed Ms. Diezani Madueke is corrupt, the MAJOR opportunity for that corruption is provided by the LAW. This is a very important aspect of the whole scenario - the LAW allows it, provides for it, encourages it. In fact, the LAWS of Nigeria relating to economics and resource management were designed by the British to FACILITATE theft.

And those laws are preserved because Nigeria is multi-ethnic and each tribe tries to use those laws to exploit and steal from other tribes.

There's no one who will go there and not steal. Take the Land Use Act and Petroleum Act. Those laws MANDATE THE GOVT TO STEAL petroleum bearing land and ALLOCATE, basically dash, give away, those lands TO ANYONE it chooses.


In fact, if the Fed Govt doesn't STEAL 445,000 barrels of oil from the oil producing communities, how will it even get refined fuel to sell to the masses at subsidized rates?

I dey laugh oooooooo......in fact eh, after laughing in Ijebu-Igbo, I laugh in Ogoni-Ijaw, plus I cry in Tiv!!!!

N I G E R I A .....the devil's own country.

Of course some people are presenting this as EVIDENCE of the corruption of govt officials, when the whole thing is LEGAL.

This is why when El-Rufai was being hounded over the land allocations in Abuja, he simply said it was LEGAL, and he was correct!

The same way Shagari and his officials ALLOCATED cheap housing in all those Federal Housing Estates that some of us are so grateful for.

QUOTE:


NOTE: The truth is out...at last!


Note to Agensheku.....it's all legal, nobody can be prosecuted for it! It's now you will understand why so much corruption in Nigeria goes on without consequences! It's legal!!!!

Fela called it AUTHORITY STEALING.....the international oil companies are experts at this thing, that's the BASIS of the US enmity with Iran, it's the ROOT of the problems in Zimbabwe, South Africa and Venezuela, go read the history. Yet you will find Africans defending this robbery because Oyibo provided jobs for them in Boston and Toronto or because Oyibo showed them the way to Jesus or because they get cheap discount petrol and kero....when it's available to buy.

The African....what a crazy animal

!Get Yours!
Obugi
Re: Ribadu committee: "govt officials aided oil companies to loot billions of $$$!"
Denker posted on 10-25-2012, 09:21:27 AM
mallam Obugi, abeg schaaaarrraaaaapppp, am tired of ya ranting and raving....as i was saying the wrong side won the civil war...indeed.
Re: Ribadu committee: "govt officials aided oil companies to loot billions of $$$!"
Obugi posted on 10-25-2012, 09:26:42 AM
Denker,

QUOTE:
mallam Obugi, abeg schaaaarrraaaaapppp, am tired of ya ranting and raving....as i was saying the wrong side won the civil war...indeed.


So everyone in the East will become slaves to Anambra people? Abegi jor, methinks not!

!Get Yours!
Obugi
Ribadu Report Uncovers Sleaze in Oil and Gas Sector
Ajibs posted on 10-25-2012, 15:28:19 PM
Ah!!! Good so this guy still dey ground dey work...

QUOTE:

Ribadu Report Uncovers Sleaze in Oil and Gas Sector

Nigeria has lost out on tens of billions of dollars in oil and gas revenues over the last decade from cut-price deals struck between multinational oil companies and government officials, a report of the Petroleum Revenue Special Task Force has said.

The 146-page document was produced by the 17-member task force, which is headed by the former Chairman of the Economic and Financial Crimes Commission (EFCC), Nuhu Ribadu, set up by the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, in January. It covers the year 2002 to the present.

According to the Reuters news agency, the report provides new details on Nigeria's long history of corruption in the oil sector, which has enriched its elite and provided the oil majors with hefty profits while two thirds of the people live in poverty.

Alison-Madueke confirmed on Tuesday that she had received the report last month but that it was a draft and the government was still supposed to give its input. But the report submitted by the Ribadu committee was marked \"final\".
The report concluded that oil majors - Shell, Total and Eni - made bumper profits from cut-price gas, while Nigerian oil ministers handed out licences at their own discretion.

This, while not illegal, did not follow best practice of using open bids. Hundreds of millions of dollars in signature bonuses on those deals were also missing, Reuters reported.

\"We have not seen this report and are, therefore, unable to comment on the content, but we will study it if and when it is published,\" a Shell spokesman said.

The report alleges that international oil traders sometimes buy crude without any formal contracts, and the Nigerian National Petroleum Corporation (NNPC) had short-changed the federation of billions of dollars over the last 10 years by selling crude oil and gas to itself below market rates.

There was no suggestion that the oil majors or traders had done anything illegal, but the report highlighted a lack of transparency in their dealings.

The Ribadu committee was among several set up by Alison-Madueke following a week of nationwide strikes against a rise in fuel prices in January, which morphed into a campaign against oil corruption.

It had as its terms of reference: To work with consultants and experts to determine and verify all petroleum upstream and downstream revenues (taxes, royalties, etc.) due and payable to the Federal Government of Nigeria;

- To take all necessary steps to collect all debts due and owing;

- To obtain agreements and enforce payment terms by all oil industry operators;

- To design a cross debt matrix between all Agencies and Parastatals of the Federal Ministry of Petroleum Resources;

- To develop an automated platform to enable effective tracking, monitoring, and online validation of income and debt drivers of all parastatals and agencies in the Federal Ministry of Petroleum Resources;

- To work with world-class consultants to integrate systems and technology across the production chain to determine and monitor crude oil production and exports, ensuring at all times, the integrity of payments to the Federal Government of Nigeria; and

- To submit monthly reports for ministerial review and further action.

The report shows that billions of dollars of revenue was missing in unpaid debts from signature bonuses and royalties.
Nigeria Liquefied Natural Gas (NLNG) Company, which is jointly owned by the NNPC, Shell, Total and Eni, had paid the country for gas at cut-down prices before exporting it to international markets, the report added.

Total and Eni declined to comment because they invest in but do not operate Nigeria LNG, a role held by Shell.
\"The estimated cumulative of the deficit between value obtainable on the international market and what is currently being obtained from NLNG, over the 10-year period, amounts to approximately $29 billion,\" the report said.

It also said foreign oil firms had outstanding debts.
Addax, now a unit of China's state-owned Sinopec, owes Nigeria $1.5 billion in unpaid royalties, part of a $3 billion black hole of unpaid bonuses and royalties owed by oil firms.

Addax did not respond to requests for comment, but the report noted it disputes owing the signature bonuses.
Shell owes Nigeria's government N137.57 billion ($874 million) for gas sold from its Bonga deep offshore field, the report said, while oil majors owed $58 million between them for gas flaring penalties. They were also not adhering to newer higher fines.

The report also revealed that Nigeria was the only nation to sell all its crude through international oil traders rather than directly to refineries, adding that such trades were often opaque.

It said some international oil traders who were not \"on the approved master list of customers\" had been sold crude oil \"without a formal contract\" so little could be obtained about the details of these deals, which can be worth hundreds of millions of dollars.

\"This logically will serve to reduce margins obtainable on sale of crude oil,\" the report observed.
But Alison-Madueke disputed this, saying there are no informal contracts and there is \"an official tender put out every year,\" which could be seen by the public in newspapers.

NNPC gets an allocation of 445,000 bpd of crude oil to refine locally but has been selling its allocation at cut-down prices, a practice which cost Nigeria $5 billion in potential revenue between 2002 and 2011, the report said.

On this, the minister said: \"NNPC buys at international rates.\"
The report said the NNPC made N86.6 billion over the 10-year period by using overly generous exchange rates in its declarations to the government, but there was no sign of the money.

Oil ministers between 2008 and 2011 handed out seven discretionary licences but there is $183 million in signature bonuses missing from the deals, the report said. Three of these oil licences were awarded since Alison-Madueke took up her position in 2010, according to the report.

\"I have not given any discretionary awards during this administration,\" Alison-Madueke told Reuters, although she added that the president had the right to do so instead of using bids if he saw fit. \"That is entirely up to him,\" she said.

Among the report's recommendations included NNPC being reorganised or scrapped, an independent review of the use of traders to be set up, and a transparency law that should be passed requiring oil companies to disclose all payments made to Nigeria.

U.S. regulators put new rules in place in August that will require U.S.-listed oil and gas companies to disclose payments they make to foreign governments like Nigeria.

But in a move aimed at providing clarity on her interview with Reuters, Alison-Madueke last night said that the reports of committees set up earlier in the year to investigate certain areas of Nigeria's oil and gas sector would soon be delivered to the government.

In a statement from the acting General Manager Public Affairs of NNPC, Mr. Fidel Pepple, Alison-Madueke was quoted as telling Reuters that \"the report is not normally put in the public domain until the government's complete report is finalised.

\"What normally happens when you set up a committee is that when the committee hands in its report, a team is put together by the arm of government or agency that set up the committee in the first place. That has already happened.

\"That team consists of people with relevant experience in the area. So, it is not just about the Revenue Task Force. The Revenue Task Force handed in its report sometime in September. But there were also the Governance and Control and the Refineries Task Forces which have all sent in their draft reports.\"

She further said: \"We have set up a team that is looking at them across the board to see if there is a difference in opinion or a difference in perspective. This team will complete its work and submit a comprehensive report in the next 10 days. It is only after then that government will talk about implementation and the issues that you mentioned would be addressed.

The minister told the news agency: \"Government will decide on where to draw the line on any issue that is not in conformity with its policies. And some of the points that have been raised are, in fact, not as they have been presented.

\"I am very careful not to comment on the report until it has been finalised. There are areas that have already been handled by these committees because they are not the way they were presented. That is why I'm very careful not to comment before we finalise.\"

The minister also added that there were some \"areas that I thought should be addressed because they come up very often in the media, such as the issue of discretionary awards. I have not given any discretionary award since the inception of this administration.

\"What normally happens with discretionary awards is that they are part of marginal or major bid rounds. It is in the president's power by law to grant discretionary awards or to go with competitive bidding or to go with a mixed bag when you have a bid round, and it is entirely up to him to decide which way to go.

\"When the next marginal or major bid rounds will be done, they will be publicly announced. We do expect that within the next couple of months, the marginal bid rounds will be announced. We hope that the major bid round will follow before the end of the year.\"


Ah ha!!!

QUOTE:
Alison-Madueke confirmed on Tuesday that she had received the report last month but that it was a draft and the government was still supposed to give its input. But the report submitted by the Ribadu committee was marked \"final\".


And now, government majik will start...

There is no report... Whia is de report...? Which report, oh dat report? No dat is not a report, dat is gess a piece of paper... report is not yet ready... when will it be ready... really...? Kwestion, kewstion looking for answer...? Anoda committee needs to review dis committee report, sorry, paper... You still get kewstion??? Dey dia dey wait me make I answer you... you still dey wait...? SECURITY!!!
Re: Ribadu Report Uncovers Sleaze in Oil and Gas Sector
Ajibs posted on 10-25-2012, 15:39:10 PM
As una dey hia dey argue Awolowo...Chinia Achebe... Yoruba... Igbo... Isi Ewu... Oil... Stone...

look how they are stealing your resources BLIND behind you backs and under your feet...

One of my first questions: Why is this probe just from 2002 only...?

QUOTE:
Nigeria: 'Oil-gas sector mismanagement costs billions'


user posted image
Despite Nigeria's oil wealth, 90% of its citizens live on less than $2 per day

A leaked report into Nigeria's oil and gas industry has revealed the extent of mismanagement and corruption that is costing billions of dollars each year.

The report, seen by the BBC, was commissioned by the oil minister in the wake of this year's fuel protests to probe the financial side of the sector.

It says $29bn (£18bn) was lost in the last decade in an apparent price-fixing scam involving the sale of natural gas.

It also calculated the treasury loses $6bn a year because of oil theft. (NAR: HOW did they calculate this?)

[QUOTE]Missing billions revealed this year

$400bn - estimated amount of Nigeria's oil revenue stolen or misspent since independence in 1960 - World Bank's ex-vice-president for Africa, Oby Ezekwesili said in August

$6.8bn - the amount a fuel subsidy scam has cost Nigeria over the last two years - a parliamentary report said in April

$29bn - the amount lost by the treasury in the last decade in an apparent gas price-fixing scam - leaked Petroleum Revenue Special Task Force report in October

$6bn - the amount the treasury loses a year because of oil theft - leaked Petroleum Revenue Special Task Force report in October


The Petroleum Revenue Special Task Force report is one of several commissioned by the government - and follows an outcry after a parliamentary investigation uncovered a massive multi-billion fuel subsidy scam.

That had been set up after angry nationwide protests in January when the government tried to remove a fuel subsidy.

Earlier this week, a campaign was launched to clean up Nigeria's oil sector.

It was led by Patrick Dele Cole, a politician from the oil-rich Niger Delta region, who said that 90% of the stolen oil was refined in eastern Europe and Singapore.

The BBC's Will Ross in Lagos says this leaked report exposes the extent of the rot in Nigeria's oil and gas industry - all the way from the awarding of contracts to the sale of refined products.

It is staggering just how much money the people of Nigeria appear to be missing out on, he says.

Nigeria's Oil Minister Diezani Alison-Madueke declined to comment on the specifics of the probe but said a report compiled from several committees set up earlier in the year to investigate the oil and gas sector was in its final stages and would be presented to the president soon.

'Total overhaul'

The Petroleum Revenue Special Task Force, headed by former anti-corruption chief Nuhu Ribadu, revealed in its report that losses of revenue to the treasury over apparent gas price-fixing involved dealings between Total, Eni and Shell and government officials.

QUOTE:
Analysis

user posted image
Will Ross
BBC News, Lagos

This latest damning indictment of the oil sector points out that Nigeria is the world's only major oil producer that sells 100% of its crude to private commodity traders, rather than directly to refineries, paving the way for potential fraud. So the entire system needs to be changed in order clean up the industry.

If there is any good news here, it is this: At least light is being shone on a sector which has for decades been kept deliberately opaque.

Some will commend President Goodluck Jonathan for showing a desire to expose the rot, but he will ultimately be judged on whether vital reforms are ever made.

It is known that stolen money from the opaque oil and gas sector play a vital role in funding Nigeria's political patronage system.


The report does not suggest the companies broke the law but called for measures to be put in place to ensure all transactions are more transparent.

It said that oil and gas companies owe the treasury more than $3bn in royalties.

For the period 2005 to 2011, it said $566m was owed in signature bonuses - the fees a company is supposed to pay up front for the right to exploit an oil block.

The report looked at the issue of discretionary licences which companies do not have to bid for.

Between 2008 and 2011 it found the Nigerian government had handed out seven discretionary licences, from which $183m in signature bonuses had not been paid.

A Shell spokesman said the company would not comment as it had not yet seen the report.

Our correspondent says it is well known that oil theft is a major problem in Nigeria, but the report says it may be reaching emergency levels as 250,000 barrels of crude oil could be being stolen every day - 10% of annual production.

The leaked report said that small-scale "pilfering" had been "endemic since at least the late 1990s", but it also said it had heard allegations about thefts from crude export terminals, tank farms, refinery storage tanks, jetties and ports.

"Submissions to the Task Force alleged that officials and private actors disguise theft through manipulation of meters and shipping documents," the report said.

"Yet there is also evidence that members of the security forces condone and, in some cases, profit from theft. The void in effective security likewise appears to increasingly hand over control of coastal and inland waterways to undesirable elements."

The investigation showed that 40% of refined products - either refined in Nigeria or imported - currently being channelled through state-owned pipelines are lost to theft and sabotage.

Mr Ribadu's investigation calls for a total overhaul of the industry with an oil sector transparency law requiring all companies to report all payments and publish all contracts and licences.

The Task Force also wants a special financial crimes unit to be established specifically for the oil and gas sector.[/QUOTE]
Ribadu Report Uncovers Sleaze in Oil and Gas Sector
Obugi posted on 10-25-2012, 16:54:43 PM
Aji,

Come though, all this hand wringing is nonsensical if all the transactions were LEGAL.

The funniest thing here is how people come waving their hands in the air screaming corruption, corruption, corruption...without reading their own article!!!!

All the beautiful Oil Queen Diezani has to do is refer everyone to the Land Use Act & Petroleum Act that allows the President via the Petroleum Minister, to ALLOCATE leases, trading contracts, oil blocks, import licences ati be be lo at his discretion. And of course the major beneficiaries are Western Oil companies! If they do otherwise, the international community will accuse our President of not respecting the rule of law.....

I love this expose, I swear! It even goes to mention the 445,000 bbls of crude stolen daily by the NNPC, which again are subject to LEGAL whims and caprices of the President and Petroleum Minister in their quest to provide cheap petrol and kero to the suffering masses. Meanwhile, petrol and kero are nowhere to be found at official prices!

The whole thing is now comedy to me. Why are Negroes this deficient in reasoning?

This is the law that MILLIONS of Nigerians were out on the street protesting to keep on the books!

Now that we know everything is LEGAL, what sayest those who oppose reform in the energy sector?

Nothing illegal was done here, which is why nothing will come of it, so unless you know otherwise just zip it.

Chevron, Exxon Mobil, Total....na una biko, you know the game! You steal from behind and leave the monkeys to blame it on the zoo keepers

By the way, Addax owes Nigeria NOTHING.

How do I know? Make I tell? Even Oyibo de do 419 these days. Anyhow......

And this part:

QUOTE:
Nigeria Liquefied Natural Gas (NLNG) Company, which is jointly owned by the NNPC, Shell, Total and Eni, had paid the country for gas at cut-down prices before exporting it to international markets, the report added.


Happens because Nigeria REGULATES the prices of its gas, by LAW!

That's why PHCN gets to buy cheap, cheap, cheap gas in order to produce subsidized electricity for the masses. PHCN doesn't get the gas because there's more money to be made selling it into the international market, and of course consumers don't get electricity because there's no gas to produce, and of course the govt workers all along the line....at NNPC, National Gas Company, PHNC....everybody keeps getting paid their salary for adhering to the LAW.

!Get Yours!
Obugi
Re: Ribadu Report Uncovers Sleaze in Oil and Gas Sector
Ajibs posted on 10-25-2012, 17:11:35 PM
QUOTE:
Aji,

Come though, all this hand wringing is nonsensical if all the transactions were LEGAL.

The funniest thing here is how people come waving their hands in the air screaming corruption, corruption, corruption...without reading their own article!!!!

All the beautiful Oil Queen Diezani has to do is refer everyone to the Land Use Act & Petroleum Act that allows the President via the Petroleum Minister, to ALLOCATE leases, trading contracts, oil blocks, import licences ati be be lo at his discretion. And of course the major beneficiaries are Western Oil companies! If they do otherwise, the international community will accuse our President of not respecting the rule of law.....

I love this expose, I swear! It even goes to mention the 445,000 bbls of crude stolen daily by the NNPC, which again are subject to LEGAL whims and caprices of the President and Petroleum Minister in their quest to provide cheap petrol and kero to the suffering masses. Meanwhile, petrol and kero are nowhere to be found at official prices!

The whole thing is now comedy to me. Why are Negroes this deficient in reasoning?

This is the law that MILLIONS of Nigerians were out on the street protesting to keep on the books!

Now that we know everything is LEGAL, what sayest those who oppose reform in the energy sector?

Nothing illegal was done here, which is why nothing will come of it, so unless you know otherwise just zip it.

Chevron, Exxon Mobil, Total....na una biko, you know the game! You steal from behind and leave the monkeys to blame it on the zoo keepers

By the way, Addax owes Nigeria NOTHING.

How do I know? Make I tell? Even Oyibo de do 419 these days. Anyhow......

!Get Yours!
Obugi


I saw that, and of course if nothing illegal was done, then at the end of the day there is kukuma no need for us to see the report n be so?

Kai, nah wire,

$138 million unknown bonus, but not illegal...

$29 billion price fixed, but also not illegal...

$6 billion lost to theft yearly, but somehow in this case theft is not illegal...

People / companies got permission to lift crude oil without contracts, not transparent, but also not illegal...

Anyways, professor Pella already told us, long time ago, the more we see the less we understand...
Re: Ribadu Report Uncovers Sleaze in Oil and Gas Sector
Auspicious posted on 10-25-2012, 17:15:25 PM
-

Oh Ribadu agaaaaain, aaaargh!

I hate that guy; everywhere he goes, it's wahala.

See he has come again to put cog in the wheel of progress. Dammit!

user posted image
--
Re: Ribadu Report Uncovers Sleaze in Oil and Gas Sector
Obugi posted on 10-25-2012, 17:23:14 PM
Aji,

QUOTE:
I saw that, and of course if nothing illegal was done, then at the end of the day there is kukuma no need for us to see the report n be so?

Kai, nah wire,

$138 million unknown bonus, but not illegal...

$29 billion price fixed, but also not illegal...

$6 billion lost to theft yearly, but somehow in this case theft is not illegal...

People / companies got permission to lift crude oil without contracts, not transparent, but also not illegal...


The $6 billion highlighted in red is ILLEGAL, but without it there would be NO fuel to buy in the East of Nigeria.

In that case, if the law is strictly enforced....and they're trying to do it now....there will be scarcity, and there IS scarcity at OFFICIAL prices!

If the owners of the oil wells are given their property back, I'm sure they will happily produce and sell to Nigerians at market price, but nooooooo, Nigerians would rather take it by force.

This report has made my day. It's not often that everything one writes on govt policy is confirmed like this in broad daylight! Who needs Ribadu, all they needed to do was read NVS.

We've seen the report. Try and change the law and see if Occupy Nigeria won't be back out on the streets! Chei, Nigerians are truly mumufied

!Get Yours!
Obugi
Re: Ribadu Report Uncovers Sleaze in Oil and Gas Sector
Obugi posted on 10-25-2012, 17:37:02 PM
Oil Queen says.....

QUOTE:
\"I have not given any discretionary awards during this administration,\" Alison-Madueke told Reuters, although she added that the president had the right to do so instead of using bids if he saw fit. \\"That is entirely up to him,\\" she said.


Let's see anyone dispute that.

Where are the lawyers? See wetin this Ijaw woman dey talk. That she and the President can award crude oil blocks just like that, as she wishes! Can this be true? What an audacious claim!!!!! It sounds so.....arbitrary and capricious!

And I've been told it includes import licenses, trading contracts, leases....EVERYTHING. That's also how she can ORDER fuel to be sold at 97 naira

How do you curtail such wide powers? Can it be true that such powers exist under LAW in Nigeria?

!Get Yours!
Obugi
1 2 3 4 5 6 7 8 9 10 11 12 13
Please register before you can make new comment