taharqa:
Read the report yourself. Don't make the mistake of relying on the biased musings/readings of APC clowns here

This report, as an Audit Work, put paid to the SUPER STORY told by Sanusi about a $49.5bn, abi na $20bn, fraud by NNPC. It was a Bladdi LIE, and this Audit report shows that. That was at all what the Audit was all about.

Would there have infractions in NNPC and the Oil industry?? ABSOLUTE. Lots of loopholes? YES. And this was what Sanusi was relying upon when he raised his sillly alarm

Jorussia:
Separation to where?do you know about the present development in SOUTH SUDAN?I as a Niger deltan,i am disappointed in d way those claim to represent us at d centre misbehave.

naijababe:


Kerosene and DPK, I thought there's no subsidy on diesel.

GEJ and his entire band of lootocrats should be tied to stakes and burnt like witches

IzonOwei:
but the pwc had already started auditing the nnpc before the elections...the truth is never in nigerian have we been close to information as we do now...give kudos to GEJ...

taharqa:


Which one is Kerosene and DPK?? Are they different??

And how dies Diesel come into play?? Or you think DPK is same as Diesel??

IzonOwei:
I am pained too..but it isnt any better being together...let true feudalism be practised...let all of us rest...

besttrader:
Sanusi was working with lean data due to the fact that NNPC and its subsidiaries were unwilling to put the numbers on the table for him to see. Howbeit, PWC didn't get as much cooperation from NNPC et al, wait until a comprehensive audit is carried out by the incoming administration. I'm appalled by your logical conclusions, your arguments energizes corruption.

SirShymexx:
Mynd44

Got to page-70. Thus far, I think PwC did a decent job, apart from the fact that they never publicly corroborated the missing $20 billion - which is obvious in the audit report. I guess that has to do with confidentiality and not disclosing the findings to third party - as posited on the first page of the report.

However, I'm shocked no one is talking about these three damning excerpts from the report:

- In January 2015 (subsequent to our initial reported conclusions), we were availed with copies of Deeds of Assignment for OML’s 26,30,40,42. We were not provided with copies of Deeds of Assignment for OML’s 4,38,41,34. We were also provided with information which indicated that the various NNPC (55%) portion of Oil leases(OMLs) involved in the Shell Divestments related to the eight ( OML’s aforestated, were transferred to NPDC for an aggregate Sum of US$1.85billion. So far, only the amount of US$100m had been remitted in relation to these assets. This means that the amount of US$1.75billion is yet to be remitted in relation to this transfer. In addition, by a comparison of the aggregate amount of US$1.85billion determined by DPR as the transfer value , and the (arm’s length) commercial value paid for by 3rd
parties for between 30% to 45% divested by Shell, we arrive at an estimated Alternative Commercial Valuation of US$3.4billion for the NNPC 55%. The point here is that while we appreciate that this is a government entity to government entity transaction, we had expected a transfer basis higher than the US$1.85billion commercial value determined by DPR.

- The total amount remitted from sale of domestic crude amounted to $14.5 billion from our analysis. This is about half of the total revenue generated from domestic crude sales and $1.5 billion lower than the amount claimed by NNPC as shown in the table below;

SOURCE Values ($)
Total Revenue 28,215,731,691
Total remitted 14,542,654,329
Difference 13,673,077,362

- The Senate Committee set up to investigate the alleged unremitted crude oil revenue for the Federation requested for submissions from elevant parties including CBN and NNPC. In addition, the Ministry of Finance set up a Reconciliation Committee (consisting of CBN, NNPC, DPR, FIRS, OAGF, the Budget Office of the Federation, Federal Ministry of Finance and Federal Ministry of Petroleum Resources) to align the differing figures that were being reported and a final reconciled remittance figure of $47 billion was agreed.


So, the senate is also complicit in the madness, no? - cray!!!

I'm done - more fun in the NBA playoffs than reading this report. The black mind is dark/black and shrouded in wickedness - gimme the loot. Just a billi should put me on the same level as Michael Jordan! Dammit!

IzonOwei:
I detest the militants too...

but seperation wuld further give us the chance to see within us as niger deltans...

we can better focus to solve the niger delta problems...my brother the oil and gas jobs are being shared so as not to even favor the niger delta...seperation will afford us the opportunity to enjoy what is beneath us...

bills like the PIB has not being signed simply because we are all still together...if at all we cant seperate then lets practice true feudalism.....chikena...I don tire abeg...

kindnyce:
THEY CAN RUN BUT THEY CANT HIDE

JUDGEMENT DAY IS HERE

THE ILLS AND CORRUPTION IS GONNA B OVER SOON

THEY MUST OPEN THOSE FILTHY BOOKS

naijababe:


You tell me?

According to the report $9b was discharged towards Kerosene and DPK subsidy.

taharqa:


O Plzzz, don't give me that shiit.

This whole thing was based on those Sanusi allegations. If Sanusi was relying on 'lean data' like you just claimed, how and why did he make his bold and clear allegations in the 1st place??

Sanusi major thrust was thru monies were not remitted to the Federation Account, not so?? This report clearly refutes that. Relying on subsidies payments like many of your guys are doing here, an area that was always prone to loopholes and shady deals it is true, though raises cause for concern, isn't any enough justification for Sanusi claims.

By d way, I hope Buhari also probes the FRC report that indicted Sanusi's CBN just as he probes this. In fact, a forensic report, in stead of a mere Audit report, should be done on both cases.

taharqa:


Plzzz, keep your mouth shut.

Just like many people commenting here, you do not knowing what what you are talking about. Kerosene =DPK (dual purpose Kerosene)

taharqa:


O Plzzz, don't give me that shiit.

This whole thing was based on those Sanusi allegations. If Sanusi was relying on 'lean data' like you just claimed, how and why did he make his bold and clear allegations in the 1st place??

Sanusi major thrust was thru monies were not remitted to the Federation Account, not so?? This report clearly refutes that. Relying on subsidies payments like many of your guys are doing here, an area that was always prone to loopholes and shady deals it is true, though raises cause for concern, isn't any enough justification for Sanusi claims.

By d way, I hope Buhari also probes the FRC report that indicted Sanusi's CBN just as he probes this. In fact, a forensic report, in stead of a mere Audit report, should be done on both cases.

naijababe:


You tell me?

According to the report $9b was discharged towards Kerosene and DPK subsidy.

IzonOwei:
I am pained too..but it isnt any better being together...let true feudalism be practised...let all of us rest...

taharqa:


O Plzzz, don't give me that shiit.

This whole thing was based on those Sanusi allegations. If Sanusi was relying on 'lean data' like you just claimed, how and why did he make his bold and clear allegations in the 1st place??

Sanusi major thrust was thru monies were not remitted to the Federation Account, not so?? This report clearly refutes that. Relying on subsidies payments like many of your guys are doing here, an area that was always prone to loopholes and shady deals it is true, though raises cause for concern, isn't any enough justification for Sanusi claims.

By d way, I hope Buhari also probes the FRC report that indicted Sanusi's CBN just as he probes this. In fact, a forensic report, in stead of a mere Audit report, should be done on both cases.

barcanista:
Wow, Wonderful...!!! I urge General Buhari to extend his probe from 1999 till date. I support this call for thorough probe and bring all culprit to justice.

dutchjongen:

"Enviromental remediation" is probably cutting the grass of NNPC Headquarters,look at them creating phantom ways to loot.

naijababe:


Which yeye Barcanista will be angry? Nucca dey collect hin security allowance steady

Williamso:

This is the bitter truth that my fellow Niger Deltans have been too blind to see. What people don't know is that if the civil war was successful, a certain Biafra would have been like Equatorial Guinea - one leader for many decades, invariably becoming a tyrant!
#TeamOneNigeria

dutchjongen:

Wow I'm shocked this is coming from you.Barcanista has turned over a new leaf

dutchjongen:

Excerpt from the report
"confirming a Presidential directive of 15 June 2009 instructing that subsidy on DPK be stopped
(Exhibit D7). We also obtained a letter dated 16 December 2010 from the Executive Secretary PPPRA to the CBN Governor clarifying that PPPRA had ceased granting subsidy on Kerosene since the Presidential directive of 15 June 2009 (Exhibit D8).Furthermore, Kerosene subsidy was not appropriated for in the 2012 and 2013 FGN budget"page 14
NNPC claimed they spent $9.9 billion dollars on kerosene without any budgetary allocation.

rusher14:


[b]Mitigation and remediation of areas damaged by environmental pollution are the tenets of the ND cause that the likes of Asari Dokubo should be championing. Protection of the environment and the local content policy should be their mantra. Yet, what we see are people who are more concerned about owning institutions in Benin Republic and asking to secede once their benefactor loses the polls.

Then you get some dolts on here, social deviants and recidivists, with a preternatural penchant for criminality and violence, demonstrating their insatiable need for anarchy renting their voices to these sociopaths who have quite sadly made the inadequacies of their lives even more pathetic.

The welfare of the common man in Nigeria has been stolen from him by the very people he fights for. The context of the irony is sordid and unparalleled in the history of humanity.

The tide turns now and a new captain attempts to steer to safety. Hopefully, the mutineers would be overcome and the ship be allowed to sail to safety.

[/b]