Nso Gabriel Reporting for Abuja Bureau
CONCERNS OVER NNPC RECENT DECLARATION OF #8.28 BILLION NAIRA DAILY SUBSIDY PAYMENT, ONE HUNDRED AND THREE MILLION (103M) LITRES OF PREMIUM MOTOR SPIRIT (PMS), AS NATIONAL DAILY CONSUMPTION VOLUME IN MAY AND SPENDING OF #541.65 BiLLION ON PETROL SUBSIDY IN SIX (6) MONTH IN 2021, a Coalition of Civil Society Organizations, and Youth Organisations under the auspices of Partners for Petroleum and Energy Sector Prosperity Initiative, ( P-PESPI) has condemned, in strong terms, the monumental corruption going on currently in the PMS Subsidy Payments at NNPC and Ministry of Petroleum Resources.
We hereby wishes to inform the Nigerian Public and the world at large the following observations;
- We considered it shocking and disturbing, the revelations made by the Group Managing Director NNPC, Mr. Mele Kyari at a Public Fora, sometime in June,2021 about the sharp, sudden, and very dramatic rise of our national daily consumption volume of premium motor spirit (PMS) in May to 103 million litres and subsequently will rise beyond manageable level, if nothing is done. The big question is, who will do something, when the rat eating the groundnut is living inside the groundnut warehouse.
- We are worried, that the daily average consumption of premium motor spirit in May had mysteriously, jumped from an already suspicious, troublesome, unsubstantiated, and very dubious figure of sixty (60) million litres per day to a whopping one hundred and three million(103m) litres per day. An addition of forty-three million litres from nowhere. Nothing in this world can explain this illogic. Our teeming Membership, supporters, coalition civil society Organizations partners and Nigerians are agitated.
- We are equally disturbed, by the declaration that a Trucking out of more than 43 million litres of Petrol daily was lost to Smuggling through our Borders, even in this heightened security alert at our Borders due to transborder insurgency and Smuggling of small Arms and light weapons. The afterthought of convoking a STAKEHOLDERS MEETING in June Ending to inform Nigerians, of a Whopping 43 millions litres of PMS daily Smuggled out of the Country, to neighboring Countries which daily consumption volume of PMS is less than 8 million litres, is absurd ! This is sheer day light robbery.
- We recall NNPC in April 2021, reported zero remittance to the Federation Accounts Allocation Committee (FAAC) owing to unsustainable subsidy payment, even with the geometrical rise in global oil price, which should have occasioned declaration of huge profits.
- With Oil prices at more than 75 dollars per barrel and still rising, the only attempt, though lame is to cook up the excuse of cross-border smuggling which doesn’t add up. We humbly at this juncture, crave the indulgence of the Nigerian Public and NNPC for a little interrogation of NNPC own data, facts and figures.
Recall that in the 2017 NNPC official report, the Corporation had declared an average daily PMS consumption volume of twenty-eight million (28M litres) per day while, Mr. Henry Obih (NNPC COO, downstream then) in the presence of other COOs and top Oil and Gas sector leaders was declaring forty-eight million litres for the year 2016 and fifty million litres (50M litres) for the year 2017, during the Nigerian Oil and Gas conference and exhibition held in Abuja.
DPR also declare 48 million litres in 2019 from their downstream depot’s and filling stations Report. How come the sudden rise of PMS daily consumption from the controversial 60 million litres to 103 or more?
- Again recent information from NNPC indicate that it spends N541.65bn on petrol subsidy in six months in
2021 so far. According to the report,
The Nigerian National Petroleum Corporation (NNPC) expended N541.65 billion subsidy on petrol between February and July this year, a document detailing the national oil company’s presentation to the Federation Account Allocation Committee (FAAC) for August 2021, has shown.
It reportedly showed that N25.374 billion was spent on what the corporation terms under-recovery or value shortfall in February, it was N60.39 billion in March, and N61.966 billion in April.
It more than doubled to N126.298 billion in May, markedly reduced to N104.337 billion in June, and further came down to N103.286 billion in July.
How can any sane and patriotic mind justify this malfeasance?
Today, the NNPC claimed it spending an outrageous #8,28 billion Naira daily as Subsidy Payments!
This type of leakage and harmorraging of our collective patrimony and dwindling revenues is unacceptable at this time.
The President of Nigeria, should raise up to the challenge of fighting corruption, which is a cardinal point of his promise to Nigeria in the Petroleum Sector and to show is not part of this devilish scheme.
Our Prayers;
1). We call on Mr President to immediately Suspends and sack the GMD, NNPC, Mallam Mele Kyari , Minister of State, Petroleum, Chief Timipre Slyva,.
2) We demand the Immediate Probe of the Subsidy Payments from May, 2020 to October, 2021.
3) We demand for forensic Audit by international reputable Audit Company of the Subsidy Payments for PMS, from May, 2020 to September, 2021.
Gentlemen of the press, we are confident, that if the above step are carryout, Nigerians will be surprise, the level of fraud going on in the NNPC and Ministry of Petroleum Resources Daily Subsidy Payments so far. Never Again!
Lord Charles Ibiang
Chairman,
Partners for Petroleum and Energy Sector Prosperity Initiative ( P-PESPI).
08038661020.
Chinonso Obasi,
National President,
Nigeria Youth Union.