States Walk Out On Panel Over N250b Subsidy.

Oshiomhole is asking for culprits to be punished. Quite funny considering the culprits are the AGIPs who stood 'staunchly' behind GEJ before the election. Nigeria is f.u.cked , with a capital F, under this "business as usual", profligate and shady President.

http://www.osundefender.org/?p=21023

States walk out on panel over N250b subsidy

AS GOV. OSHIOMHOLE CHALLENGES FG TO PUBLISH THE BENEFIARIES OF THE FUEL SUBSIDIES.

-FAAC meeting fails to share Sept cash -President may sideline National Assembly

There was no cash to share among the three tiers of government yesterday. The meeting of the Federation Account Allocation Committee (FAAC) was stalemated.

Commissioners of Finance stormed out of the meeting in Abuja protesting Federal Government’s deduction of N250 billion from the Federation Account to fund oil subsidy.

The FAAC meets monthly to work modalities for the sharing of the cash in the Federation Account.

Yesterday’s meeting was for the sharing of the September allocation which was put at about N1 trillion.

Sources at the meeting said a row broke out as soon as the commissioners were informed of the “unilateral deduction” of N250 billion to fund oil subsidy.


Section 162 (3) of the 1999 Constitution states:

“Any amount standing to the credit of the Federation Account shall be distributed among the Federal and State governments and the local government councils in each state in such terms and in such manners as may be prescribed by the National Assembly”.

Acting Chairman of the Committee of Finance Commissioners Mr Eze Echesi told reporters after the aborted meeting that Nigeria National Petroleum Corporation (NNPC)’s deduction of N100 billion and Petroleum Products Pricing Regulatory Agency (PPPRA)’s deduction of N150 billion were in total violation of the law.

Echesi, who is the Anambra State Commissioner for Finance, said the deduction was responsible for the stalemate at the meeting. He confirmed that there was no disbursement of the September allocation to the three tiers of government.

Invitation to the meeting had been sent to media houses. It was slated for the usual venue at Sheraton Hotel, Abuja.

At about 1pm, the commissioners staged a walkout. States’ Accountants General had earlier been sent out.

Indication of what was happening behind closed doors started filtering out when some state Accountant Generals said their governors had instructed the commissioners to reject the deductions. It led to the stalemate.

Minister of State for Finance Alhaji Lawan Yerima Ngama, who chairs the FAAC meeting, tried to cover up the matter.

But Minister of Finance Dr. Ngozi Okonjo-Iweala came to his rescue. She said unresolved technical discussions and debates might have led to the stalemate.

The date for the next FAAC meeting has not been fixed.

Also yesterday, Edo State Governor Adams Oshiomhole challenged the Federal Government to name the beneficiaries of the oil subsidy and punish them.

He spoke at the on-going 41st Accountants’ Conference in Abuja organised by the Institute of Chartered Accountant of Nigeria (ICAN).

The governor said government should demonstrate sincerity of purpose by disclosing the beneficiaries.

He said government should put its sincerity of purpose to test by inviting reputable international auditors to conduct a reconciliation on the subsidy transaction.

Doing this, he said, would have cleared government of the oil subsidy scam.

[b]Oshiomhole noted that the manner government shrouds its activities in the oil subsidy transaction in secrecy has compounded the matter.

The former Nigeria Labour Congress (NLC) leader said: “As far as we know, diesel for long is deregulated. In the same strength, the so-called black oil is also deregulated and kerosene as far we are concerned is also deregulated because the N50 they fixed, nobody can get it at that rate.  So, on Petroleum Motor Spirit (PMS), what is your consumption per capital. We need to know who is taking what. Let them publish the companies benefitting because some companies exist only to cash cheque on subsidies. There is need to invite the international auditors to audit this claim on subsidy because our local auditors appear compromised. Let them establish who is taking what and how”.

He condemned both the NNPC and the PPPRA for deducting billions of naira at source, monthly under the guise of offsetting subsidy from the Federation Accounts. He said the move negates the principle of Appropriation Act.

“No one has the right to take anything that is not appropriated. Once the foundation of transparency is compromised, the system is flawed “, said the governor.

According to him, the noise about transformation will amount to nothing if government failed to get its priority right on power.[/b]

“Power is key to transforming the Nigeria economy and the power is at the heart of it all” he said, lamenting that former President Olusegun Obasanjo spent eight years proclaiming evolution in power sector and   left the nation worse off .

Rivers State Governor Rotimi Amechi urged the federal government to be sincere in its implementation of the transformation agenda.

He said: “The moment the economy is transformed and it is productive, a lot of people that are engaged in criminal activities will have no choice but to get engaged in something productive.”

CULLED FROM THE NATION

^^^^^^^^^^^

source: OSun/Aregbesoladefender. lol

una no dey tire?

na_so:

^^^^^^^^^^^

source: OSun/Aregbesoladefender.  lol

una no dey tire?

When will you give up your blind and unobjective support of a man who is totally beholden to the biggest crooks and racketeers in Nigeria? We all saw them endorsing him before the election and they are now getting their 'just' rewards. We now know you did not read the article because at the bottom it stated "CULLED FROM THE NATION" so stop daydreaming and fantasizing about Aregbesola. You GEJ fans are all the same. Comprehension = 0%. Blind defense of GEJ = 100%.

^^^^^^ LOL. na so the matter pain u reach? NA u don sabi english pass, abeg go siddon.

[size=15pt]
osundefender===aregbesola defender
the nation==== tinubu defender.
[/size]
Tell me the difference between 6 and half-a-dozen.

na_so:

^^^^^^ LOL. na so the matter pain u reach? NA u don sabi english pass, abeg go siddon.

[size=15pt]
osundefender===aregbesola defender
the nation====   tinubu defender.
[/size]
Tell me the difference between 6 and half-a-dozen.

Your distractive shenanigans just shows one of the traits common amongst you GEJ fan i.e blind defense of your clearly incompetent and failing messiah.

http://www.nigerianews24.com/articles/fuel-subsidy-stalls-faac-meeting

http://www.bayelsastatenews.com/states-walk-out-on-panel-over-n250b-subsidy/

Is the issue about Osun defender (the messenger) or the content of the story (the message)?

@Post, this issue of fuel subsidy is become more interesting by the day. We'll continue to pose difficult questions to the government on this and other issues. Who are the beneficiaries of the subsidy? Why did the subsidy bill rise astronomically from N600b last year to over N1trillion this year? Did consumption increase by the same quantum? Did crude prices go up by that magnitude? What really is happening?

Yes product prices have gone up,
Supply has increased, consumption has increased and smuggling has also increased!

^^^The government should: tackle smuggling and corruption, make power stable, and make refineries work.

Osun Defender Disorder
A "news" source that smells as fresh as used loo roll.

^^^Did you base your declaration on this piece of news or on some other reasons?

Pukkah:

^^^Did you base your declaration on this piece of news or on some other reasons?

Take your time to read the rag. I'd rather use Ovation as a source of news, I can't imagine how Gbawe can stoop so low.

Beaf:

Take your time to read the rag. I'd rather use Ovation as a source of news, I can't imagine how Gbawe can stoop so low.

My brother, Is Vanguard good enough for you? If yes can we move on to address the substantive issues raised instead of your lame airhead attempt at discrediting the messenger in this day and age when everyone can google info ?


http://www.vanguardngr.com/2011/10/states-fg-at-war-over-allocation/

States, FG at war over allocation
On October 19, 2011 · In Headlines

By Emma Ujah, Oscarline Onwuemenyi & Yemie Adeoye
ABUJA— The 36 states of the federation and the federal capital territory have rejected the September allocation from the federation account as a result of illegal deductions from states by the federal government and the un-remitted funds from NNPC into the federation account.

This is coming on the heels of Edo State Governor Comrade Adams Oshiomhole’s challenge to the federal government to publish the names of companies and individuals benefitting from the oil subsidy, saying it was not enough for the federal government to say that the subsidy is not reaching the people.

Also yesterday the federal government said it has reversed downward the 2012 budget oil bench mark from $75 per barrel to $70. It also disclosed commencement of the controversial Sovereign Investment Authority, NSIA, to manage the Sovereign Wealth Fund , SWF, implementation naming KPMG auditing firm as the manager of the wealth fund indicating that the Governors Forum that was opposed to the wealth fund has finally given it the green light to take off.

The implication is that the estimate of the 2012 budget will drop slightly and the deficit may rise beyond what government had initially projected. This means also that the falling crude oil prices in the international market have taken a toll on the nation’s 2012 budget still in the works.

States reject allocation

The lingering face-off between State governments and the Nigerian National Petroleum Corporation, NNPC, over illegal deductions and unremitted funds deepened yesterday as the Federation Accounts Allocation Committee (FAAC) again failed to distribute monthly allocation to the three tiers of government. The rejection is against the backdrop of controversies occasioned by controversial N450 billion still owed FAAC by oil giants, new deductions reared their ugly heads at the FAAC technical session to dash states’ hopes of smiling home with their allocations for the month of September 2011.

For the second successive month, hours of rigorous deliberations by the technical committee failed to yield results as the States’ Commissioners of Finance engaged in a showdown with the Minister of State for Finance and Chairman of FAAC, Alhaji Yerima Lawal Ngama at the monthly meeting held at Abuja Sheraton Hotel and Towers.

Those present at the heated meeting said that the bone of contention was the sum of N250billion deducted by the NNPC and the Petroleum Products Pricing Regulatory Agency (PPPRA) from the September federation accounts revenue in the name of subsidies for petroleum products.

According to the source, the Minister, who got wind that the commissioners had concluded plans to embarrass him by staging a walk-out, stayed away from the venue, thereby causing an indefinite postponement of the meeting.

The source said the N100 billion deducted by NNPC and the 150 billion deducted by PPPRA were not only illegal but criminal in nature given that they run foul of existing laws governing the federation account. “We don’t want to be part of the continued violation of the law. Things must be done right and that is why we insist that the money illegally deducted from our commonwealth must be returned to the treasury before we can resume discussions,” he stated. Earlier, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okojo-Iweala had explained that unresolved issues by the FAAC technical committee were responsible for the deadlock.

She, however, promised all the knotty issues would be fully addressed with the FAAC expected to reconvene soon for the distribution of the September allocation to the three tiers of government.

Oshiomhole challenges FG to publish list of subsidy beneficiaries

Speaking at the 41st Annual Conference of the Institute of Chartered Accountants of Nigeria, ICAAN, in Abuja, yesterday, Governor Oshiomhole said that it was not enough for the federal government to tell Nigerians that the subsidy had to be removed for failing to reach the poor but that the cabal behind it should be exposed in the national interest.

He said that Nigerians must be told how the federal government arrived at the figure of N1.4 trillion spent on subsidy in the past nine months, saying, “the figure is crazy even if all Nigerians are drinking petrol the way we drink pure water. How many litres do we consume? Who is taking what? Let the federal government publish the names of the companies benefiting from it and the names of their directors”.

On the Sovereign Wealth Fund, SWF, the governor said that he and his colleagues were not against savings, as according to him, “no one is opposed to savings. The argument about savings is a matter of common sense”, but that the revenue sharing formula needed to be reviewed in favour of the two lower tiers of government.

Amaechi supports subsidy removal

Also speaking, Gov Chibuike Amaechi of Rivers State said that there was too much lack of transparency and arbitrariness in the Nigerian oil industry and opined that there was need for a complete reform of the sector. “What about the corruption in the oil industry?. They need to tell me why there is so much arbitrariness in the oil industry”, he said.

He however, said that Nigerians should allow the government to remove the subsidy in order to create room for openness and a pool of funds to undertake massive investments in infrastructure. According to him, the government should come up with measurable palliative measures and milestones to be achieved within given periods of time, failure of which ordinary Nigerians should march to the streets. “Hold the president and the governors responsible. If they don’t deliver on their promises come out to the streets”, he said.

Major oil marketers support subsidy removal too

Major Oil marketers in the country have thrown their weight behind the federal government’s decision to remove subsidy in 2012. Deputy Managing Director of Oando Plc, Mr. Mofe Boyo who spoke with Vanguard exclusively on phone stated that in spite of all the moves against the federal government’s intention by different groups and individuals the move by government remains the only way to grow the economy.

According to him, the oil marketers are not the proponents of subsidy removal but would adjust accordingly if the federal government so decided. “Moman’s (Major Oil Marketers Association of Nigeria) position has always been clear; there can be no major investments in the downstream sub-sector under a regulated regime. If government finally decides to remove subsidy and allow market forces take price control then people can take prompt investment decisions. But as I earlier mentioned Moman is positioned to react to government’s decision if they decide to deregulate and if they decide not to deregulate due to the pressures, well that’s where we are already.”

On crude bench mark price

On the oil bench mark price for 2012 budget Dr Okonjo Iweala said: “We took the decision after consultations with experts in the country and even outside the country on the volatility of the oil price. There is a convergence of opinion that there may be no end to the volatility very soon.

We are convinced that it is better to reduce the benchmark from $75 per barrel to $70 to make room for prudent management of the resources”, she said. She stressed the commitment of the Goodluck Jonathan administration to the transformation of the nation’s economy by prioritizing sectors such as power, agriculture, roads/rails, education, education and security through which to generate massive jobs for Nigerians.

Meanwhile, at a separate press briefing, Dr. Okonjo-Iweala announced the commencement of the implementation of the SWF for which KPMG firm has been appointed to undertake head-hunt for its Managing Director, MD and two Executive Directors. According to her, “we are proceeding with the implementation of this very important programme following consultations with the Governors’ Forum because the feedback we have is that Nigerians strongly support saving for the future and the other core objectives of the fund. It is also clear that given the current challenges facing our economy and the global financial crisis, we cannot afford to waste any time”. Consequently, the minister announced that $1 billion out of the $6 billion currently held in the Excess Crude Account would be drawn down as initial take-off fund for the authority.

What to do with the balance, she said would be determined later, based on the outcome of further consultations with the governors.

Nigerians should think outside the box — ICAN President

Earlier, the President of ICAN, Prof Francis Ojaide said that although the proposed transformation agenda for the economy could cause initial pain, his organisation would support it, having been convinced of its future benefits.

His words: “By its very nature, transformation is often followed by temporary pains, discomfort and even disorder which humans detest. Indeed, history attests to the fact that except people abandon their comfort zones, desire a higher order need, progress will not be achieved easily.

“As a people, as discerning professionals and players in the economy, we need to see through current temporary obstacles and symptoms of dislocation, grab the opportunities for wealth creation which they offer in order to achieve corporate success, sustainable growth and launch into national prosperity. It is ironical that while Nigerians are complaining about current economic difficulties, Asians, Lebanese and Indians are coming into Nigeria in droves to take advantage of the huge opportunities that exist here. We need to think outside the box”.

^
You see, Vanguard says:

According to the source, the Minister, who got wind that the commissioners had concluded plans to embarrass him by staging a walk-out, stayed away from the venue, thereby causing an indefinite postponement of the meeting.

. . .But your Osun rag for illiterates boldly lies that:

At about 1pm, the commissioners staged a walkout. States’ Accountants General had earlier been sent out.

Why do you like quoting crap press? Since yesterday it has been all sorts of dubious stuff from Osun Defender and Sahara Reporters. Do spend your time reading lies and digesting crap? On the other hand, maybe you actually seek them out, because you know no better. Its a mystery indeed!

He he he he, Beaf is talking about himself.

You could have easily said "Take the time to read Beaf's post and GEJ lap-dog is  what will come to your mind".

Beaf:

Take your time to read the rag. I'd rather use Ovation as a source of news, I can't imagine how Gbawe can stoop so low.

Beaf:

^
You see, Vanguard says:

. . .But your Osun rag for illiterates boldly lies that:

Why do you like quoting crap press? Since yesterday it has been all sorts of dubious stuff from Osun Defender and Sahara Reporters. Do spend your time reading lies and digesting crap? On the other hand, maybe you actually seek them out, because you know no better. Its a mystery indeed!

Are you OK at all? I will reiterate the common point the two articles make that you shamelessly ignore with your now famous shifty style of dodging issues to engage in distractive salsa dancing:

Those present at the heated meeting said that the bone of contention was the sum of N250billion deducted by the NNPC and the Petroleum Products Pricing Regulatory Agency (PPPRA) from the September federation accounts revenue in the name of subsidies for petroleum products.

According to the source, the Minister, who got wind that the commissioners had concluded plans to embarrass him by staging a walk-out, stayed away from the venue, thereby causing an indefinite postponement of the meeting.

The source said the N100 billion deducted by NNPC and the 150 billion deducted by PPPRA were not only illegal but criminal in nature given that they run foul of existing laws governing the federation account. “We don’t want to be part of the continued violation of the law. Things must be done right and that is why we insist that the money illegally deducted from our commonwealth must be returned to the treasury before we can resume discussions,” he stated.

Gbawe:

Are you OK at all? I will reiterate the common point the two articles make that you shamelessly ignore with your now famous shifty style of dodging issues to engage in distractive salsa dancing:

You are the one who isn't mentally right. Here you are, telling lies, then posting a Vanguard article to back up your lies. . . Only that Vanguard's story thoroughly trashed your lies. Now here you are saying your lies are not the issue, even when the title of this thread is a lie.

The so-called walk-out only occurred in the the fertile imaginations of your likes and the likes of that worthless rag, Osun Defender.

Ol' boy, I hail o!

Beaf:

You are the one who isn't mentally right. Here you are, telling lies, then posting a Vanguard article to back up your lies. . . Only that Vanguard's story thoroughly trashed your lies. Now here you are saying your lies are not the issue, even when the title of this thread is a lie.

The so-called walk-out only occurred in the the fertile imaginations of your likes and the likes of that worthless rag, Osun Defender.

Ol' boy, I hail o!

This post is confirmation that you are indeed not okay. Better seek help . Were .

Gbawe:

This post is confirmation that you are indeed not okay. Better seek help . Were .

no comments.
when logic fails ,aggression complements.

Engaging in intellectual dialogue with Beaf and his Rag tag Jonathan apologists?. I will never waste my time on that.

Well like they say Odechukwu Retardeen Jonathan is on top of the situation

just watching

Odechukwu

They should just remove this subsidy tin jor

This thread is so funny. Of a truth, ACCURSED (BEAF) is a MAD Man. I hope you have learnt something from the fall of Gaddafi? Your end is so close

dayokanu:

Well like they say Odechukwu Retardeen Jonathan is on top of the situation

This name given to the clown is truly what he deserves. But the name funny sha o!

Make una give beaf one name also naw.

Beaf, be careful! and stop playing game with the life and destiny of Nigerians. Agreed u have ur right to earn a living but then, not at the expence of the destiny of Nigerians. Pls be warned, u 're not as invincible as u may believed.

It is obvious that Nigerians don't know the problem of this country. I'm disappointed in our leaders especially the Governors. All of them are beggars who run to Abuja for revenue to be shared to them. Their job is award of contracts and sharing of funds to their cronies. Non can use his brain to create wealth, industries nor invest in research projects that will benefit the country in future.
What moral standing does glorified beggars have to prevent the Federal Government from saving for the rainy day. They talk about constitution. Who prepared that so called constitution.
The time to start planning for the future is now. These fools should not draw us back by wasting time fighting about sharing of allocation. They are lazy and unpatriotic fellows!

Subsidy removal at this time will futher impoverish nigerians.

Gbawe:
States Walk Out On Panel Over N250b Subsidy.

Oshiomhole is asking for culprits to be punished. Quite funny considering the culprits are the AGIPs who stood 'staunchly' behind GEJ before the election. Nigeria is f.u.cked , with a capital F, under this "business as usual", profligate and shady President.

http://www.osundefender.org/?p=21023

yes osun defenders are really useless Tabloid