NNPC N1.2 trillion Subsidy Claim: Diezani calls on Jonathan to caution Okonjo-Iweala.
President Goodluck Jonathan has been alerted by the Nigerian National Petroleum Corporation(NNPC) to a looming acute fuel shortage, should the FG fail to pay the N1.13trn subsidy owed to NNPC.The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke led a delegation who reportedly made this known to Jonathan at a recent meeting. The delegation included some top management staff and the group Managing Director, Mr. Andrew Yakubu.It was learnt that the team told the President that the Minister of Finance, Mrs. Ngozi Okonjo-Iweala,had failed to pay the debt, which has hinged its capacity to continue the importation of fuel on the payment of the debt that had accumulated over the months. The team advised that the president get the Minister of Finance, Mrs. NgoziOkonjo-Iweala to pay the debt to avoid serious fuel shortage in the country.The team further informed the president that they fear that very soon fuel might disappear from filling stations across the country if it continues this way.They also informed the President that they fear that the N971bn subsidy provision in the 2013budget is seen as hideously insufficient.According to a source at the NNPC who spoke in confidence, when asked said, “Yes, we have made a presentation to the President. We are waiting for his response because it (payment of the subsidy claim) is very imperative for our capacity to import fuel,”The team resorted to requesting a meeting with the President when they could not get the Okonjo-Iweala pay the subsidy claim.The NNPC has remained the sole importer of fuel into the country since the problem with importers began, the oil marketers refused to import fuel since the government refused to pay for some of their claims.The Jetty and Petroleum Tank Farm owners as well as the oil marketers operating under them have also faulted the N971bn budgeted for the subsidy in the 2013 fiscal year, saying that the amount would not be enough to supply the product over the stipulated period.In a phone interview, the Executive Secretary,JEPTFON, Mr. Enoch Kenawa, had this to say, “It(N971bn) will not be adequate. What the government is doing is putting Nigerians in double jeopardy. They said they are subsidizing fuel, yet people can’t see the products to buy and where they have fuel, people still pay very high to get it.“The N971bn for fuel subsidy can never be adequate. At 35 million litres of fuel consumption per day, the money can’t be enough.”He said the N971bn, was too small that the government should have been talking N1.2trnand N1.5trn, with the population and demand ratio.“If they want to remove, let them remove it(subsidy) instead of what they are doing right now. Based on the demand, the amount that would be reasonable for fuel subsidy should be between N1.2trn and N1.5trn,” Kenawa added.He said the fuel scarcity experiencing in the country now is because of the N888bn voted for subsidy this year, which was grossly inadequate.
http://pppppfri..de/2012/11/nnpc-n12-trillion-subsidy-claim-diezani.html

Ewo! Battle of the Titans

When a group of marketers are hell bent on holding the nation to ransom, what you do is evolve a plan to have them replaced.

A Buhari Presidency would have done this. Or are the only ones that can do the job? If a group of people in any sector dare try that in Us or Britain, the country will devise another way to do what they refuse to do and their companies will be permanently shut down.

A group of marketers cannot be bigger than the country; it only seems that way because Jonathan is the most compromised President in Nigerian history.

Abi the marketers get their own Army?