Nigeria Govt pays marketers N338bn in 2012 for fuel subsidy claims

By IndepthAfrica
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Sep 5th, 2012
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by Mrs Ngozi Okonjo Iwealla

Contrary to the impression given by some marketers and their agents, the Federal Government has continued to pay marketers whose claims have been duly verified. This is in line with its commitment to encourage honest and professional private sector operators in the subsidy regime.

As the attached information shows, in addition to other verified payments made in 2011-2012, a total of N34.6 billion was paid on Wednesday, August 22, 2012 alone.

In all, a total of N259,339,041,657.85 has been paid in 2011-2012.

However, as the Federal Ministry of Finance has emphasised over and over again, only marketers whose documents have been verified, processed and cleared will be paid.

It is also important to note that both the number of claims by marketers and the amount paid have reduced significantly due to the work of the Aig-Imoukhuede Committee and the rigorous procedures which have been adopted to check fraud.

Pls see details below:

FEDERAL MINISTRY OF FINANCE

UPDATE ON PAYMENTS TO OIL MARKETERS WHOSE CLAIMS HAVE BEEN VERIFIED

In line with the commitment of the Federal Ministry of Finance to manage fuel subsidy payments in a transparent manner that protects and enhances the interests of the Nigerian people, below are two tables which detail the current status of payments on verified claims by marketers.

[Please note that the Federal Ministry of Finance makes payments based on submitted batches by the Petroleum Products Pricing Regulatory Agency (PPPRA).]

TABLE 1:

LATEST PAYMENTS MADE BY THE FEDERAL MINISTRY OF FINANCE TO OIL MARKETERS IN 2012 AGAINST 2012 CLAIMS

NO. OF COMPANIES: 24

NO. OF CLAIMS: 43

S/NO. NAME OF OIL MARKETER

1. ASCON OIL COMPANY LIMITED (3 Claims)

2. BODEJ INVESTMENT LIMITED (1 Claim)

3. BOVAS AND COMPANY LIMITED (2 Claims)

4. CHANNEL OIL AND PETROLEUM LIMITED (1 Claim)

5. DEE JONES PETROLEUM AND GAS LIMITED (1 Claim)

6. DOZZY OIL AND GAS LIMITED (1 Claim)

7. FIRST DEEP WATER DISCOVERY LTD (1 Claim)

8. FOLAWIYO ENERGY LIMITED (1 Claim)

9. HEYDEN PETROLEUM LIMITED (1 Claim)

10. HONEYWELL OIL & GAS LIMITED (1 Claim)

11. INTEGRATED OIL & GAS (1 Claim)

12. MASTERS ENERGY OIL AND GAS LTD (1 Claim)

13. MOBIL OIL NIGERIA NIGERIA PLC (3 Claim)

14. MRS OIL & GAS LIMITED (1 Claim)

15. NIPCO PLC (4 Claims)

16. OANDO PLC (2 Claims)

17. RAHAMANIYYA OIL & GAS (3 Claims)

18. RAIN OIL LIMITED (5 Claims)

19. SAHARA ENERGY RESOURCES LIMITED (2 Claims)

20. SHORELINK OIL AND GAS SERVICES LIMITED (2 Claims)

21. SWIFT OIL LIMITED (1 Claim)

22. TECHNO OIL LIMITED (3 Claims)

23. TOTAL NIGERIA PLC (1 Claim)

24. ZALEX ENERGY RESOURCES LIMITED (1 Claim)

Grand Total: N78,899,342,509.65

*Some claims were settled before substantive implementation of the Aig-Imoukuede Committee’s Report which led to the suspension of payments of all 2012 claims to oil marketers under investigation for serious infractions.

Please note that of the total amount of N78.9 billion paid so far under this category, N34.6 billion was paid on Wednesday, August 22, 2012 following a thorough process of claims verification. This is in line with the commitment of the Federal Ministry of Finance to continue the payment of marketers whose papers have been processed and cleared.

TABLE 2:

PAYMENTS MADE BY THE FEDERAL MINISTRY OF FINANCE TO OIL MARKETERS IN 2012 AGAINST 2011 ARREARS.

S/NO NAME OF OIL MARKETER

1 ACORN PLC

2 AITEO ENERGY RESOURCES

3 AMG PETRO-ENERGY LIMITED

4 ANOSYKE GROUP OF COMPANIES

5 ASCON OIL COMPANY LIMITED

6 AX ENERGY LIMITED

7 A-Z PETROLEUM

8 BAYWOOD CONTINENTAL LIMITED

9 BRITANIA .U. NIGERIA LIMITED

10 CAADES OIL & GAS LIMITED

11 CAH RESOURCES ASSOCIATED LIMITED

12 CAPITAL OIL & GAS INDUSTRY LTD

13 CARNIVAL ENERGY OIL & GAS LTD

14 CEOTI LIMITED

15 CHANNEL OIL & GAS SVS

16 CONOIL PLC

17 CRUST ENERGY LIMITED

18 DEE JONES PETROLEUM & GAS LIMITED

19 DOWNSTREAM ENERGY SOURCE LTD

20 DUPORT MARINE LIMITED

21 ECO-REGEN LIMITED

22 ETERNA OIL & GAS PLC

23 EURAFIC OIL & COASTAL SERVICE LIMITED

24 FARGO PETROLEUM & GAS LIMITED

25 FIRST DEEP WATER DISCOVERY LIMITED

26 FOLAWIYO ENERGY

27 FORTE OIL PLC

28 FRADO INTERNATIONAL LIMITED

29 FRESH SYNERGY LIMITED

30 GEACAN ENERGY LIMITED

31 HEYDEN PETROLEUM LIMITED

32 HONEYWELL OIL & GAS LIMITED

33 IBAFON OIL LIMITED

34 INTEGRATED OIL & GAS

35 KNIGHT BRIDGE OIL

36 LLYODS ENERGY LIMITED

37 LOTTOJ OIL & GAS LIMITED

38 MASTERS ENERGY OIL & GAS LIMITED

39 MATRIX ENERGY LIMITED

40 MOB INTEGRATED SERVICES

41 MOBIL OIL NIGERIA NIGERIA PLC

42 MOMATS OIL & GAS LIMITED

43 MRS OIL & GAS CO. LIMITED

44 MRS OIL NIGERIA PLC

45 MRS OIL NIGERIA PLC

46 NADABO ENERGY LIMITED

47 NASAMAN OIL SERVICES LIMITED

48 NATICEL PETROLEUM LIMTIED

49 NIPCO PLC

50 NORTHWEST PETROLEUM & GAS CO LTD

51 OAKFIELD SYNERGY NETWORK LTD

52 OANDO NIGERIA PLC

53 OBAT OIL & PETROLEUM LIMITED

54 OIL BATH NIGERIA LIMITED

55 ORIGIN OIL & GAS LIMITED

56 PETROL TRADE ENERGY LIMITED

57 PHOENIX OIL COMPANY LIMITED

58 PINNACLE CONTRACTOR LIMITED

59 PINNACLE OIL & GAS LIMITED

60 PRUDENT ENERGY & SERV. LTD

61 RAHAMANIYYA OIL & GAS LIMITED

62 RAINOIL LIMITED

63 ROCKY ENERGY LIMITED

64 RYDEN OIL LIMITED

65 SAHARA ENERGY RESOURCES LIMITED

66 SEA PETROLEUM & GAS COMPANY LTD

67 SHORELINK OIL & GAS LIMITED

68 SIFAX OIL & GAS COMPANY LIMITED

69 SIRIUS ENERGY RESOURCES LIMITED

70 SOMERSET ENERGY SERVICES LIMITED

71 TECHNO OIL LIMITED

72 TONIQUE OIL SERVICES LIMITED

73 TOP OIL & GAS DEVELOPMENT LIMITED

74 VALCORE ENERGY LIMITED

75 VENRO ENERGY LIMITED

76 VIVENDI ENERGY NIGERIA LIMITED

77 XALON PETROLEUM LIMITED

78 ZALEX ENERGY RESOURCES LIMITED

79 ZAMSON GLOBAL RESOURCES LIMITED

TOTAL AMOUNT SETTLED: N259,339,041,657.85

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