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PTF: Shining In The Gloom (The Buhari Success Story) - Politics - Nairaland

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PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 3:12pm On Jan 01, 2015
By Jason, Pini
African Business , June 1998


The Petroleum Trust Fund, headed by former President, Gen. Buhari, has confounded all its critics. As a development agency, it has succeeded spectacularly where all others failed. Pini Jason has the details.

The one silver lining to emerge from the current heavy economic cloud must be the performance of the Petroleum (Special) Trust Fund (PTF). In October 1994, General Sani Abacha hiked the pump price of petrol from N3.25 to N11 per litre, promising, with Decree 25, to set up a Petroleum Trust Fund to distribute the gains from the increase on social and infrasturctural projects. The board of the fund, headed by former Head of State, Major-General Muhammadu Buhari, was eventually inaugurated on March 21, 1995.

The Fund began with an initial capital of about N60bn in 1996. Its all encompassing mandate includes the rehabilitation of roads and waterways, educational and health institutions, providing textbooks and stationary, procuring essential drugs and vaccines, providing water supply systems, reviving crumbling agricultural sectors, connecting outlying areas to the national electricity grid, extending railways and telecommunications and ensuring consistent food supply.


The huge budget and all-embracing mandate earned PTF some criticisms. Some dubbed it "the alternative government," accusing it of duplicating the responsibilities of other existing government agencies. There was for instance an initial conflict about who should be tarring which road, between PTF and the Federal Ministry of Works and Housing.

Yet, for once, other Nigerians began to hope that here was an agency that took its work seriously. The question was: could it carry out its entire mandate, or even a part of it? Everyone waited to see what would happen.

Initially PTF awarded contracts for the rehabilitation of 12,000km of federal highways (including drainages) nationwide, and between 25-100km of urban road in major cities such as Gusau, Benin, Funtua, Zaria, Enugu, Kaduna, Aba, Lagos, Lokoja, and Port Harcourt. A N27.3bn contract was awarded for road rehabilitation in the first quarter of 1996. The sum of N1.328bn was awarded to 53 pharmaceutical companies for the supply of drugs, while the importation of vaccines cost N229.9m. As at December 31, 1997, funds available to PTF stood at N115.1bn.

One thing even the most uncharitable critic of PTF will admit is that it has evolved a new way of doing things. This is true to its mission statement which is 'to establish and operate an open, modest and efficient organisation for the purpose of achieving the honest and timely execution of carefully designed socio-economic projects.'

Right from its inception, the Head of State directed the fund to operate a lean bureaucracy. It depends therefore largely on consultants supervised by Afri-Projects Consortium, the management consultant to PTF. This policy has created jobs and boosted the confidence of Nigerian professionals such as architects, engineers and quantity surveyors.

In many other ways, PTF has thrown a lifeline to dying sectors of the economy. Most of Nigeria's pharmaceutical companies were failing, and the foreign multinationals were divesting. But through its drugs procurement programme, PTF has turned the balance sheet of most of them into profit. Equipment and car leasing companies are also benefitting from the multiplier effects of PTF operations.

Banks and insurance companies have also benefited. Nigeria has a history of contractors collecting mobilisation (advance) fees and not carrying out the contract. But not with PTF.
Every advance payment up to N10m must be guaranteed by a PTF-approved bank, while other advance payments are covered by performance bonds issued by similarly approved insurance companies. This method, apart from increasing solvency through cash deposits, has created business for banks and insurance companies.

One of the insurance companies that has benefited from PTF as a provider of performance bonds is The United Nigeria Insurance Company (UNIC), a composite insurance company which provides both life and non-life insurance. The total assets of UNIC stood at N979m while it grossed premium income of N916m and settled claims of N263m in 1996. With a staff of 552 spread all over its nationwide branch network, UNIC is today one of the leading insurance company in Nigeria.

Another company that has done good business with PTF is IPWA plc, formerly International Paints (West Africa) Ltd. IPWA is today one of the biggest and most diversified paint manufacturers in Nigeria. The company product range spans automotive paints, building paints, industrial coatings and marine coatings. Others are packaging coatings, protective coatings and wood finishes.

Most PTF contractors, specialist advisers and consultants lease and use computers, fax machines, printers and photocopiers. This has provided a new market for computer companies like Leading Edge Ltd., headed by Mr Tony Edoro, the managing director. Leading Edge is foremost in cloning computers with parts from diverse companies such as US Micro-Generation, IBM Direct, Merisel and Gateway. According to Mr Edoro, a widely experienced computer systems engineer, the advent of PTF has been good for Leading Edge. The company's turnover has grown from N50m in 1995 to well over N100m in 1997.

Apart from energising several sectors of the economy, PTF is also setting the pace in another direction. In the words of Mr Salihijo Ahmad, of Afri-Projects Consortium, the twin objectives of PTF are to "rehabilitate infrastructures and reorientate the people." This the fund does through its insistence on transparency even though some critics still accuse it of lopsidedness in project execution and selection of consultants and contractors.

In a country dogged by lack of transparency, PTF is the first, and perhaps the only public institution in Nigeria to publish its annual accounts. Last year, when he presented the annual report and accounts of 1996, Gen. Buhari promised to present the 1997 accounts before the end of the first quarter of 1998. He fulfilled that promise.

The 1997 account of PTF shows that it disbursed N24.3bn on roads, N21.2bn on security, N7.8bn on health, and N3bn on other projects. Other disbursements include N2.2bn on water supply, N936m on food supply and N476m on education. It realised a total of N1.049bn from various investment activities.

Reviewing the success story of PTF, Gen. Buhari said: "We have consolidated our execution of the take-off projects for the previous year and increased our intervention within the sectors. There is no doubt that the years ahead will witness even more intervention, as reports of some of the studies commissioned are received and project execution commenced."

The fund has embarked on community education to sensitise and enlighten communities of its activities. The idea is to bring recipients closer to the objectives of the fund, so that they can participate in project identification and selection as well as eventual PTF projects in their areas.

One aspect of the overall project that the public has raised an eyebrow over is the Armed Forces PTF. According to Gen. Buhari, PTF is under instruction to allocate 20% of its funds to the armed forces, and another 1% to the Federal Capital Territory. The allocation to the Armed Forces is probably a continuation of a practice that started during Gen. Babangida's time when he used to allocate excess revenue from the projected price of crude directly to the commanding officers. But what worries critics of PTF is that the military is not accountable to anyone regarding its utilisation of funds. Moreover, critics question the wisdom of allocating such a huge chunk to the military (who also usually takes the lion's share of the budget) over and above food supply, education and health. Apart from roads, the allocation to all other sectors does not add up to the Armed Forces PTF allocation.

Nobody knows how long PTF, a purely intensive intervention agency, will last or whether there will be a place for such an agency under a democratic set up. That decision, Gen. Buhari said, will be up to Nigerians. For now Buhari's preoccupation is to rehabilitate infrastructure and reorientate the people towards a new, effective and efficient way of executing uninflated contracts without kickbacks and without consuming mobilisation fees.

Said Gen. Buhari to PTF contractors: "If you perform well, you get a hand shake. If you perform badly, you get a handcuff."
https://www.questia.com/read/1G1-62556379/development-ptf-shining-in-the-gloom

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by kestolove95(f): 3:25pm On Jan 01, 2015
may God bless d general,we. will strt to see same change starting from may 29 2015

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by Nobody: 3:43pm On Jan 01, 2015
Can we compare GMB PTDF to GEJ SURE-P?


SAI BUHARI

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 3:44pm On Jan 01, 2015
I would love to see a similar analysis on SURE-P.

Christopher Kolade who headed SURE-P from January 3, 2012, resigned his chair by November 24, 2013 amidst allegations of missing N500 Billion.

Jonathan and missing funds are synonymous.

Kolade has recently stated that GEJ's Gov't has not performed and that Jonathan is not a good leader.


edit: I am close to shedding tears of joy. It was a battle to get this thread to FP.
NL mods thank you.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by rozayx5(m): 3:49pm On Jan 01, 2015
any projects from.his days as head of state
or is ptf all he can cling to grin

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 3:57pm On Jan 01, 2015
rozayx5:
any projects from.his days as head of state
or is ptf all he can cling to grin

A man's true character does not wait for positions of leadership to manifest. Just read the following pockets facts about GMB. Mind you we have no records of GEJ's achievements as Bayelsa's Governor or Dep. Governor.

GMB Pocket Facts

Remember Buhari's regime only lasted from December 31, 1983 – August 27, 1985. Barely two years. Even at that, he stabilized the inflation rate and stamped out misappropriation of funds from the Shagari era.

Apart from being a military president, He was
1. Governor of the then Northeastern State (August 1975 – March 1976), under Gen. Murtala Mohammed;

2.Federal Commisioner (Minister) of Petroleum (March 1976 – July 1978) when the Warri and Kaduna Refineries were built; and

3. PTF Chairman (1993 - 1998). A 1998 report in New African praised the PTF under Buhari for its transparency, calling it a rare "success story".

No portfolio that GEJ had held in history has had a success history close to GMB's performance.

GEJ promised Stable Power in 2011 and Refineries in 2012. Where are they?

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by rozayx5(m): 4:03pm On Jan 01, 2015
LRNZH:


A man's true character does not wait for positions of leadership to manifest. Just read the following pockets facts about GMB. Mind you we have no records of GEJ's achievements as Bayelsa's Governor or Dep. Governor.

GMB Pocket Facts

Remember Buhari's regime only lasted from December 31, 1983 – August 27, 1985. Barely two years. Even at that, he stabilized the inflation rate and stamped out misappropriation of funds from the Shagari era.

Apart from being a military president, He was
1. Governor of the then Northeastern State (August 1975 – March 1976), under Gen. Murtala Mohammed;

2.Federal Commisioner (Minister) of Petroleum (March 1976 – July 1978) when the Warri and Kaduna Refineries were built; and

3. PTF Chairman (1993 - 1998). A 1998 report in New African praised the PTF under Buhari for its transparency, calling it a rare "success story".

No portfolio that GEJ had held in history has had a success history close to GMB's performance.

GEJ promised Stable Power in 2011 and Refineries in 2012. Where are they?

we have busted the refinery lie. find something else. the head of state signs and appropriates funds fir such. buhari did nothing as head of state
i challenge you to show me any reasonable project buhari completed of started as head of state


PTF was scrapped and probed only to find inflated contracts
governor of north eastern states. no legacy





this thread made fp today
nairaland officially belongs to APC

Meanwhile buhari defends decree 4
https://www.nairaland.com/2123778/ban-press-embarrass-public-officer#30320603

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by Ngwakwe: 4:19pm On Jan 01, 2015
Have these people carried these lies to Nairaland?

A success story that kept Nigeria underdeveloped, impoverished, infrastructurally deficient and more also created tens of millions almajiris roaming the streets across Northern Nigeria when the opportunity to eradicate the menace called.

There is no length these repackaging machineries won't go to decorate a too-dented commodity.

It seems their target is Nigerians born after Buhari's infamous, sectional and corrupt laden PTF.

Youths and Nigerians done suffer. A season of grandstanding half-truth, deception and outright lies.

The PTF even claimed to rehabilitate roads more than total of what we have in Nigeria today.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 4:24pm On Jan 01, 2015
rozayx5:


we have busted the refinery lie. find something else. the head of state signs and appropriates funds fir such. buhari did nothing as head of state
i challenge you to show me any reasonable project buhari completed of started as head of state


PTF was scrapped and probed only to find inflated contracts
governor of north eastern states. no legacy

[b]What 'truths' did you bust? Let me get you out of your TANoid state of mind: Read and pay attention to the dates in red.

Warri Refinery:
The contract was for the design, procurement and construction of a new grassroots petroleum refinery in Warri. The design capacity of the refinery was 100,000 bpd and the project duration was 30 months. This project was completed and the Warri Refinery was commissioned in 1978. http://www.wrpcnnpcng.com/about2.htm

Kaduna Refinery:
The lubricating oil complex of Kaduna Refinery is the first of its kind in West Africa and one of the largest in Africa. The consulting firm, KING WILKINSON of Hague, Holland, in conjunction with NNPC engineers, developed the plan for the refinery. The contract for construction was awarded to CHIYODA CHEMICAL ENGINEERING & CONSTRUCTION COMPANY OF YOKOHAMA, Japan in 1977.
The Refinery project was completed and the Fuels Plant was commissioned in 1980. However the Lubes Plant was commissioned in 1983 and Petrochemical Plant much later in 1988. The initial operation and maintenance was carried out by Nigerian Staff and expatriate personnel as technical back up. By 1985, Nigerian staff had virtually taken over all the maintenance and operations. http://www.nnpcgroup.com/nnpcbusiness/subsidiaries/krpc.aspx

Remember [/b]

LRNZH:


2.Federal Commisioner (Minister) of Petroleum (March 1976 – July 1978) when the Warri and Kaduna Refineries were built;[/color]


You're a difficult case but hopefully you're reformed.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 4:40pm On Jan 01, 2015
Ngwakwe:
Have these people carried these lies to Nairaland?

A success story that kept Nigeria underdeveloped, impoverished, infrastructurally deficient and more also created tens of millions almajiris roaming the streets across Northern Nigeria when the opportunity to eradicate the menace called.

There is no length these repackaging machineries won't go to decorate a too-dented commodity.

It seems their target is Nigerians born after Buhari's infamous, sectional and corrupt laden PTF.

Youths and Nigerians done suffer. A season of grandstanding half-truth, deception and outright lies.

The PTF even claimed to rehabilitate roads more than total of what we have in Nigeria today.

The total length of Federal Government highway roads in Nigeria is 34,340.90Km comprising of 20,452.3km Asphaltic concrete, 8,000.9km surface dressed and 5,887.7km gravel or earth. http://www.kwarastate.gov.ng/statistics/transportationandcommunication/roadnetworkinnigeriaandncz.php#sthash.3exMJx3G.dpufPTF

PTF claimed to have rehabilitated 12,000km of federal highways (including drainages) nationwide, and between 25-100km of urban road in major cities such as Gusau, Benin, Funtua, Zaria, Enugu, Kaduna, Aba, Lagos, Lokoja, and Port Harcourt.

12,000km out of 34,340.90Km.
Is that too much maths for you? Ok, let me help. That's roughly 35%.

Offer an apology or forever hold your peace for trying to subvert the truth.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by Nobody: 4:52pm On Jan 01, 2015
LRNZH the Fact Finder.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by enm(m): 4:53pm On Jan 01, 2015
Please i will like those using ptf to campaign for buhari to please list out all the projects and where they are cited.

I don't want story but fact. Its time we start presenting things in it true form, no biase or colouration.

If ptf is that successful as being touted, Nigeria won't have experience the emergence and proliferation of militant in the niger delta region after the killing of Ken saro wiwa and the gang, the dare devil day light robbery that was taking place in Lagos and some state.

As a young boy who grew up in Lagos, with the information that Nigeria is a rich and powerful country. Rich through the oil in the niger delta, can you imagine how shock i was to find an extremely under developed region when i travelled down there in 1992 Christmas eve and do you know what i found when i travelled up north to school in minna?

Please we should stop this nonsense and call a spade a spade, a failure a failure.

Yes in some area going by the news on newspapers now, and some sign board i saw here and there then i will say ptf tried but a success forget it. And also the same way with sure p, sure p too also tried and is trying.

We should learn to stop eating and celebrating over crumbs that fall over from the dinning table.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by Ngwakwe: 5:04pm On Jan 01, 2015
LRNZH:


The total length of Federal Government highway roads in Nigeria is 34,340.90Km comprising of 20,452.3km Asphaltic concrete, 8,000.9km surface dressed and 5,887.7km gravel or earth. http://www.kwarastate.gov.ng/statistics/transportationandcommunication/roadnetworkinnigeriaandncz.php#sthash.3exMJx3G.dpufPTF

PTF claimed to have rehabilitated 12,000km of federal highways (including drainages) nationwide, and between 25-100km of urban road in major cities such as Gusau, Benin, Funtua, Zaria, Enugu, Kaduna, Aba, Lagos, Lokoja, and Port Harcourt.

12,000km out of 34,340.90Km.
Is that too much maths for you? Ok, let me help. That's roughly 35%.

Offer an apology or forever hold your peace for trying to subvert the truth.


For posterity sake remove this paid publication and concocted lies out from Nairaland.

You think we weren't alive then. What sort of journalistic and political fraud of article is this?

For a valid news article, the names of the roads with their corresponding distances and types of work done should be listed and not this junk.

How does it sound to list the names of cities as project sites without further details?

Can't you differentiate between political talk and reality.

Can you imagine that corruption laden PTF was described as transparent and corruption free.

With what we now know about corruption and mismanagement of PTF funds and the recoverables, can this paid publication of a political fraud stand scrutiny?

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by laimo(m): 5:07pm On Jan 01, 2015
I know in the PTF days,there was massive road constructions never again replicated since pdp seized the presidency.

We still see even bedsheets distributed then by PTF headed by Buhari at Federal Government Hospitals around Nigeria.

We all know the SURE-P(which is a failure) concept was borrowed from the PTF. But like everything pdp,Sure-p is a failure.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 5:25pm On Jan 01, 2015
Ngwakwe:



For posterity sake remove this paid publication and concocted lies out from Nairaland.

You think we weren't alive then. What sort of journalistic and political fraud of article is this?

For a valid news article, the names of the roads with their corresponding distances and types of work done should be listed and not this junk.

How does it sound to list the names of cities as project sites without further details?

Can't you differentiate between political talk and reality.

Can you imagine that corruption laden PTF was described as transparent and corruption free.

With what we now know about corruption and mismanagement of PTF funds and the recoverables, can this paid publication of a political fraud stand scrutiny?

Calm down and don't lose your cool.

I am sure you're aware that I know your tactics now.
The only genuine question you asked about the length of roads in Nigeria, I have answered adequately with links. You got some education.

You attempted to derail this thread: https://www.nairaland.com/2067016/photos-10-billion-us-dollars and used your admin powers to refuse moving it to front page against every other commenters' request to move it to front page because of its educative value.

The article in the current OP was written in 1998 before anyone knew Buhari would contest for any elective post. It is even referenced on Wikipedia and other major knowledge sites.

If you're trying to stop this thread from reaching front page, I am unperturbed. I wont be surprised as well.

As for the breakdown of PTF projects, stay tuned. We're digging the archives between 1993 and 1998.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by Ngwakwe: 5:29pm On Jan 01, 2015
LRNZH:


Calm down and don't lose your cool.

I am sure you're aware that I know your tactics now.
The only genuine question you asked about the length of roads in Nigeria, I have answered adequately with links. You got some education.

You attempted to derail this thread: https://www.nairaland.com/2067016/photos-10-billion-us-dollars and used your admin powers to refuse moving it to front page against every other commenter request to move it to front page because of its educative value.

The article in the current OP was written in 1998 before anyone knew Buhari would contest for any elective post. It is even referenced on Wikipedia and other major knowledge sites.

If you're trying to stop this thread from reaching front page, I am unperturbed. I wont be surprised as well.

As for the breakdown of PTF projects, stay tuned. We're digging the archives between 1993 and 1998.

The article said PTF was transparent and corruption free.

Is this assertion not a lie to what we now know?

This publication was an attempt to cover the massive stealing and corruption that were rampant in the agency during the time.

Probably they published it to deceive Buhari who claimed innocent to the massive fraud in the establishment

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 5:36pm On Jan 01, 2015
Ngwakwe:


The said article said PTF was transparent and corruption free.

Is this assertion not a lie to what we now know?

This publication is an attempt to cover the massive stealing and corruption that were rampant in the agency during the time.

Were you on the PTF board between 1993 and 1998? I don't think so. How can you be so sure of what transpired?

Any claim to corruption was also what you read from the internet. I will suggest you start a thread on what the perceived corruption with PTF are but don't derail this thread.

If you observe, claims of PTF corruption surfaced when Buhari started contesting for Presidency just to discredit him unlike the OP from 1998.

I doubt you read the article. There is even criticism of PTF for making some allocation to the military as instructed by probably Abacha.

A lot of Nigerians can attest to seeing the results of PTF intervention unlike any other intervention fund including SURE-P where N500Billion is missing.

I am done with you please
.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by PassingShot(m): 5:41pm On Jan 01, 2015
May God put enemies of Nigeria to shame by making Buhari our next president.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by PassingShot(m): 5:44pm On Jan 01, 2015
Ngwakwe:


The article said PTF was transparent and corruption free.

Is this assertion not a lie to what we now know?

This publication was an attempt to cover the massive stealing and corruption that were rampant in the agency during the time.

Probably they published it to deceive Buhari who claimed innocent to the massive fraud in the establishment

You're very ignorant. However you can help yourself by researching achievements of PTF. Even your clueless team headed by Mr. Clueless cannot attempt the stunt you're trying to pull here.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by PassingShot(m): 5:59pm On Jan 01, 2015
Ngwakwe:
Have these people carried these lies to Nairaland?

A success story that kept Nigeria underdeveloped, impoverished, infrastructurally deficient and more also created tens of millions almajiris roaming the streets across Northern Nigeria when the opportunity to eradicate the menace called.

There is no length these repackaging machineries won't go to decorate a too-dented commodity.

It seems their target is Nigerians born after Buhari's infamous, sectional and corrupt laden PTF.

Youths and Nigerians done suffer. A season of grandstanding half-truth, deception and outright lies.

The PTF even claimed to rehabilitate roads more than total of what we have in Nigeria today.

I'm more often than not disappointed by your contributions. This report was done many years ago and still verifiable and instead of you to take your time for a simple search on the information provided, you're making sweeping, baseless and unintelligent statement just because you feel pained by the sterling record of PTF.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by PassingShot(m): 6:01pm On Jan 01, 2015
Ngwakwe:


The article said PTF was transparent and corruption free.

Is this assertion not a lie to what we now know?

This publication was an attempt to cover the massive stealing and corruption that were rampant in the agency during the time.

Probably they published it to deceive Buhari who claimed innocent to the massive fraud in the establishment

Can you provide your proof to the claim? I mean credible proof.

17 Likes 1 Share

Re: PTF: Shining In The Gloom (The Buhari Success Story) by atlwireles: 6:17pm On Jan 01, 2015
PTF Fraud: How N25 Billion was stolen under Buhari’s watch

The Petroleum Trust Fund was inaugurated by the Abacha administration in March 1995 and General Muhammadu Buhari was appointed to head the Fund which was formed sequel to the increase in the pump price of petrol to N 11 from N 3.25. The then Head of State, Gen Abacha had said then that the Fund was to distribute the gain from the increased price on social and infrastructural projects.

The Fund started work with an initial capital of about N60b in 1996 with a mandate that included the rehabilitation of roads and waterways, educational and health institutions, providing textbooks and stationery, procuring essential drugs and vaccines, providing water supply systems, reviving crumbling agricultural sectors, connecting outlying areas to the national electricity grid, extending railways and telecommunications and ensuring consistent food supply.

Buhari often referred to as Mai Gaskiya (the honest one) was apparently considered for the job mainly because of the qualities he possessed, with the Abacha led government feeling that would douse the tension generated by the increase in fuel prices. With time however, allegations started flying that the PTF was no more than another avenue for the Abacha administration to siphon funds.

On assumption of office in 1999, Chief Obasanjo disbanded the PTF. One of the discoveries made by the administration was that between its inception and July, 1999, the funds that accrued to the PTF stood at N 181 billion. It was also found out that the Consultants appointed by the Executive Chairman of the Trust Fund, Gen Buhari constantly fleeced the country of funds running into billions.

In 2000, the Obasanjo administration set up an Interim Management Committee to take a look into the affairs of the Petroleum (Special) Trust Fund and ascertain among other things, how much has been spent by the PTF so far and what is on ground to justify the huge expenditure. The Committee the set to work and accomplished all the terms of reference by March 2000. The Interim Management Committee submitted that:

Term of Reference No 1:
The Interim Management Committee has already ascertained the total income that has accrued to PTF from its inception to date. The total amount that has accrued to PTF is N 181, 795, 000, 000 (One hundred and eighty one billion, seven hundred and ninety five million Naira). The report for the ascertainment of accrued income has been completed.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by Caseless: 6:18pm On Jan 01, 2015
The only time i got something from gov't as a citizen of Nigeria, it came from PTF. Ofcourse, I got textbooks with inscription "NOT FOR SALE " on its cover-page and I visited PTF-owned hospital at Sabon Gari, Tudun wada, Kaduna state without paying any medical fee. Recalling that this gesture signifies I'm a Nigerian , also, realising it came from an agency(PTF) headed by GMB at that time- I get drawn to him(GMB) even more.
Sai Buhari!

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by atlwireles: 6:18pm On Jan 01, 2015
Term of Reference No 2
Independent Consultants were commissioned by the Interim Management Committee to ascertain the state of all the bank accounts operated by the Petroleum Special Trust Fund from its inception up to September, 1999.

All the assignments have been completed and all the reports submitted. An Executive Summary was prepared and a total of N 3, 642, 982, 280 (Three billion, six hundred and forty two million, nine hundred and eighty two thousand, two hundred and eighty Naira) was found to be recoverable from various banks, due to excess charges, under payment of interest on fixed term deposits and non-payment of interest on current account balances, as stipulated by Central Bank of Nigeria guidelines.

Terms of Reference No 3
The Petroleum Special Trust Fund intervened in, prepared and packaged, ready for transfer to the appropriate line ministry

(b) Food Supply Sector All the necessary verification work have been concluded for projects and programmes and reports already supplied by independent consultants. The programme is already in the process of being transferred to the appropriate ministry, as per the approval given by Mr President.

(c) Education Sector i) Educational Materials Procurement Programme: The verification of the entire programme has already been done and the process of handing over the whole programme to the appropriate beneficiaries has reached an advance stage as directed by Mr President ii) Rehabilitation of Educational Institutions: The services of various consultants have been used to carry out the technical audit of all the projects throughout the country and a comprehensive up to date report has already been completed by the co-ordinating consultants. The preparation of an Executive Summary has reached an advanced stage.

(d) Health Sector: (i) Drug Revolving Fund: The drug revolving fund programme has been thoroughly verified and all available stocks have been transferred to the various state governments. As per the directive of Mr President (ii) Rehabilitation of Health Institutions: The programme for the rehabilitation of Health Institutions throughout the country has been verified and a comprehensive up to date status report prepared. And Executive Summary for the attention of Mr President is being prepared.

(e) Water Supply Sector: All projects and programmes under this sector have been thoroughly verified in compliance with the terms of reference No 3. A comprehensive and up to date report has already been completed.

(f) Other Project Sector: The projects under the sector which were commenced have already been completed. The rest of the projects are yet to commence. The report stating the above mentioned up to date status of all projects under this sector has already been completed.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by atlwireles: 6:18pm On Jan 01, 2015
Terms Of Reference No 4

(i) The audited account of the fund as at 30th June, 1999 stating the Assets and Liabilities of the Petroleum Special Trust Fund has already been prepared by the KPMG Audit, a firm of Chartered Accountants. (ii) The Audited Accounts of the fund as at 31st December, 1999 stating the Assets and Liabilities of the fund has already been prepared by Pricewaterhouse Coopers Audit, a firm of Chartered Accountants. (iii) The Audited Accounts of the Fund for the month commencing January, 2000 to June 30th 2000 is to commence when the IMC was replaced. This would have given the asset and liabilities of the Fund at the end of the terms of the former IMC.
Terms Of Reference No 5

The present administrative structure was carefully examined and the best option is to transfer each departmental staff operating a project sector to the appropriate ministry where the projects are transferred. This will reduce hardship on the staff and also will enhance the capacity of the ministry concerned for it to cope with the additional responsibility.

Terms of Reference No 6 and 7
The former IMC has undertaken a thorough technical audit of all projects and programmes using well experienced independent consultants. In the process of the technical audit, the sanctity of all contracts agreement was upheld and all costs were evaluated to a realistic level. The value of work done up to date has been ascertained and the estimated cost of completion has also been calculated. The appropriate ministry that will be responsible for the completion of any project may further negotiate the time and cost of completion of any project.

As it has been enumerated above, all the terms of reference given to the former IMC has already been virtually completed. The handing over of projects to respective ministries has already commenced. The former IMC would have completed the winding down of the activities of the Petroleum Special Trust Fund as directed by Mr President by the end of June, 2000.

The total public funds to be recovered from various contractors, banks and consultants amounted to about Twenty five billion, seven hundred and fifty eight million five hundred and thirty two thousand four hundred and forty eight Naira.

Below is the Executive Summary of various reports of the independent consultants on verification exercise which resulted in the funds recoveries.

Members of The Interim Management Committee Are As Follows:
Dr. Haroun Adamu (Chairman), Alhaji Abdu Abdurrahim, Barrister Achana Gaius Yaro, Arc Edward Eguavoen, Mr. T. Andrew Adegboro, Engr Baba Goni Machina

Report On The Amount To Be Recovered From Some PTF Projects And Programmes
The Interim Management Committee was appointed by Mr President. One of the terms of reference of their appointment is to carry out verification exercise on all projects and programmes prior to packaging the projects and programmes for subsequent transfer to the appropriate line ministries. The recoverable exercises of the under-listed projects were completed and the various reports and the IMC recommendations forwarded to President Obasanjo for further directives.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by atlwireles: 6:19pm On Jan 01, 2015
The Listed Projects Are –
(i) Afriproject Consortium (APC) PTF Management Consultants and also Project Consultants (ii) PTF intervention in the HIV/AIDS Programme (iii) PTF Health Sector Intervention inputs (iv) PTF Prevalent cases of expiring drugs all over the country (v) PTF residential estate development on Plot 780 Cadastral Zone A8, Abuja FCT (vi) PTF Head Office extension contract at Airport Road, Abuja (vii) PTF-Bank accounts operated from inception to 31st December 1999.

AFPRI- Project Consortium (APC) Afri-Project Consortium were contracted by PTF as Management Consultants and Project Consultants. The former Chairman of PTF also delegated to them the power of Engineer in all appropriate project requiring such power. Afriproject Consortium then assumed an absolute power of initiation, approval and execution of all projects.

Three reputable management consulting firms were engaged to verify all payments made to (APC) from the inception of PTF up to 30th September, 1999. On verification it was found that they have over charged PTF for their services to the tune of N 2, 057, 550, 062 (Two billion fifty seven million five hundred and fifty thousand and sixty two Naira only).

(ii) PTF Assisted HIV/ AIDS Programmes : The intervention of PTF in the HIV/AIDS was flawed due to professional negligence by the management consultants. There was an excessive order of HIV/AIDS kits which resulted in most of the kits expiring before use. Also there was gross inflation of the purchase price. The two factors combined resulted in a loss of N 579,000,000 (Five hundred and seventy nine million Naira only).

(iii) PTF Intervention Programmes : PTF intervention in the health sector input programmes totalled to about N 9 billion Naira. The projects were executed by the management consultants and PTF in-house staff. In this sector there are three glaring areas of loss: (a) Purchase of specific frames which was done at N 1,900 each while they can be purchased locally at a price between N 80 and N 880. This resulted in total loss of N 45, 270,000 (b) Purchase of ambulances which was done at N 13,000,000 each instead of the price of N 3,000,000 each. This resulted in total loss of N 900,000,000 (Nine hundred million Naira only). (c) Purchase of drugs was done to the tune of N 3.08 billion. Price inflation and expiring of drugs resulted in a loss to PTF of about N 1, 500, 000,000 ( one billion, five hundred million Naira).

(iv) PTF Prevalence Expiring Drugs All Over The Country: A team of Pharmacists were commissioned to verify the Drugs Revolving Fund Programmes. Their findings were very depressing. A huge loss has been incurred by PTF as enumerated below:- (a) Drugs and consumables worth N 817, 831,723 (Eight hundred and seventeen million, eight and thirty one thousand seven hundred and twenty three Naira only) were found to have expired by October, 1999 (b) another quantity of drugs worth N 94, 741, 517 expired in December, 1999 (c) drugs worth N 233, 416, 829 will expire by March 2000 (d) Drugs worth N 461, 255,073 will expire by June 2000 (e) Drugs worth N 429, 117, 861 will expire by September, 2000 (f) Drugs worth N 1, 196, 276, 052 will expire by October- December, 2000.

There were many cases of deterioration of drugs as a result of faulty manufacturing, inappropriate packaging, improper storage and excess stock.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by docadams: 6:20pm On Jan 01, 2015
@ LRNZH: I implore you to disregard Ngwakwe and continue with your submission. He is blinded in all fields of vision so much that he may not recognise himself when he stands before the mirror.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by rozayx5(m): 6:20pm On Jan 01, 2015
LRNZH:


[b]What 'truths' did you bust? Let me get you out of your TANoid state of mind: Read and pay attention to the dates in red.

Warri Refinery:
The contract was for the design, procurement and construction of a new grassroots petroleum refinery in Warri. The design capacity of the refinery was 100,000 bpd and the project duration was 30 months. This project was completed and the Warri Refinery was commissioned in 1978. http://www.wrpcnnpcng.com/about2.htm

Kaduna Refinery:
The lubricating oil complex of Kaduna Refinery is the first of its kind in West Africa and one of the largest in Africa. The consulting firm, KING WILKINSON of Hague, Holland, in conjunction with NNPC engineers, developed the plan for the refinery. The contract for construction was awarded to CHIYODA CHEMICAL ENGINEERING & CONSTRUCTION COMPANY OF YOKOHAMA, Japan in 1977.
The Refinery project was completed and the Fuels Plant was commissioned in 1980. However the Lubes Plant was commissioned in 1983 and Petrochemical Plant much later in 1988. The initial operation and maintenance was carried out by Nigerian Staff and expatriate personnel as technical back up. By 1985, Nigerian staff had virtually taken over all the maintenance and operations. http://www.nnpcgroup.com/nnpcbusiness/subsidiaries/krpc.aspx

Remember [/b]




You're a difficult case but hopefully you're reformed.

why are you crediting projects done by other heads of state to Buhari
what has buhari achieved as head of state, stop beating around the bush
i cant jump the head of state and credit a mega project like a refinery to a minister who does not have the power to award such contracts

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by atlwireles: 6:21pm On Jan 01, 2015
(v) PTF Residential Estate: The involvement of PTF in Residential Estate Development was out of its intervention sphere. As at now, the estate has been confiscated by government. The contract sum is N 703, 815, 416 (Seven hundred and three million, eight hundred and fifteen thousand four hundred and sixteen Naira only) while after verification, the whole project was valued at N 328, 901, 521 (Three hundred and Twenty Eight Million nine hundred and one thousand, five hundred and twenty one Naira only). There was an inflation of the contract to the tune of N 374, 913, 895 (Three hundred and seventy four million, nine hundred and thirteen thousand eight hundred and ninety five Naira only).

(vi) PTF Headquarters Extension: The IMC Commissioned Consultants to determine the current construction cost of the on-going extension at the headquarters office. The current construction cost determined by the Consultant came to N 326, 207, 861 (Three hundred and twenty six million, two hundred and seven thousand, eight hundred and sixty one Naira only) as against a contract sum of N 461, 216, 759 (Four hundred and sixty one million, two hundred and sixteen thousand, seven hundred and fifty nine Naira only) this resulted in contract sum inflation of N 135, 008, 879 (One hundred and thirty five million, eight thousand eight hundred and seventy nine Naira only).

(vii) Bank Accounts Operated By PTF From Inception To December 31, 1999: Various Consultants were commissioned to verify the Bank accounts operated by PTF from inception of the Fund up to 31st December, 1999. The Fund operated its bank accounts under three different categories viz- (a) Administration Account (b) Project Account (c) Treasury Account. Recoveries to be made from the various banks are as follow:

(a) Administration Account Total Amount recoverable is N 664, 415, 793 (Six hundred and sixty four million, four hundred and fifteen thousand seven hundred and ninety three Naira only). This is mainly due to overcharge on Cost of Turnover (COT), non-payment of interest on current account balances as stipulated by Central Bank of Nigeria (CBN) and other various discrepancies.

(b) Project Account On project Account, total amount recoverable is N 2, 467, 817, 167 (Two billion, four hundred and sixty seven million, eight hundred and seventeen thousand, one hundred and sixty seven Naira only). This is made up mainly from overcharge of Cost of Turnover (COT), non-payment of interest on Current Account balances as stipulated by Central Bank of Nigeria (CBN) and other various discrepancies.

(c) Treasury Account All the Treasury Accounts were verified and amount to be recovered is N 510, 749, 323 (Five hundred and ten million, seven hundred and forty nine thousand, three hundred and twenty three Naira only). This is mainly due to short-payment of interest on deposited funds. (See Box A).

The total sum of N 11, 658, 532, 448 (Eleven billion, six hundred and fifty eight million, five hundred and thirty two thousand four hundred and forty eight Naira only) is recoverable as per various reports completed as at now.

1.Other Potential Areas Of Fund Recovery : Road (Highways and Urban Roads) The PSTF uses about 70% of its income on highways and Urban Road Projects. In this project sector, there was total variation of contract sums of N 68,000,000,000 (Sixty eight billion Naira). These variations were not done with properly priced bills of quantities and approved civil contracts procedure as stipulated by government regulations. Taking the experience of what has been discovered after verification of previous contracts awarded by PSTF, the minimum potential recovery will be about 15%. This estimated percentage will be about N 10, 000, 000 (Ten billion Naira). The verification of this project sector was about to take off when the IMC members were replaced.

2. Rural Water Supply Programme The area of potential fund recoveries under this programme are basically two :- (i) Mobilisation paid to contractors who by now have not even commenced work (ii) Over pricing of contracts. The amount to be recovered from this project sector can be conservatively estimated at N 1,000,000,000 (One billion Naira).

The detail verification report on this programme has already been completed. The executive summary of this report was in the process of compilation when the IMC members were replaced.

3. National Health and Educational Institutions Rehabilitation Programme The detail verification exercise on this sector has already been completed by various independent Consultants. The executive summary for total amounts recoverable is now in the process of being compiled. The conservative estimate of amount recoverable due to non-performance of contractors and over-pricing of contract is about N 600,000,000 (Six hundred million Naira).

4. National Educational Material Procurement Programme This programme entails the purchase of educational materials such as text books, exercise books, chalk, dusters, pencils, biro, magazines, maps etc. The verification exercise of this programme is yet to commence. The conservative estimate of recoveries to be made due to non-performance by contractors and inflation of prices will be in the region of N 900,000,000 (Nine hundred million Naira).

5. Rural Telecommunication Programme The Rural Telecommunication Programme was supposed to be carried out in two phases viz: – (i) Pilot programme (ii) The main programme. The main programme was to commence after the pilot programme has been completed and certified as operational, but mobilisation of N 1, 600,000 (One billion, six hundred million Naira) was paid to the contractors for the main programme without any contract being signed at all.

In view of the government policy at present, the full amount of the mobilization paid can be recovered (i.e N 1,600,000,000), See Box B

The Committee recommended that the total recoverable amount can be used to offset some of the outstanding debts because some of the creditors are contractors from whom these amounts are to be recovered. It also recommended that the President may wish to set up a high powered judicial panel to recover the huge public fund and to take the necessary action against any officer, consultant or contractor whose negligence resulted in this colossal loss of public funds.

The Interim Management Committee Members who compiled this report include Dr. Haroun Adamu (Chairman), Alh. Abdu Abdurrahim, Barrister Achana Gaius Yaro, Arc. Edward Eguavoen, Mr. T Andrew Adegboro and Engr. Baba Goni Machina.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by atlwireles: 6:23pm On Jan 01, 2015
Keep your buhari lies to yourself.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by LRNZH(m): 6:25pm On Jan 01, 2015
After PTF, successive attempts to set up copycat agencies the NAPEP, PPRA, UBEC, NDDC, SURE-P failed and have become a waste-pipe of public resources going by the abysmal performance and massive frauds.

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Re: PTF: Shining In The Gloom (The Buhari Success Story) by atlwireles: 6:28pm On Jan 01, 2015
Afenifere Petitions About PTF Projects & Marginalisation of Yorubas.

**Buhari allocated only 24% of the roads to the Southern, and the North has 76%.
**health clinics, the South West has zero allocation, the North-100%.
**old Kano and Lagos used to have the same number of divisions. Today Lagos is still the same, with 20 LGAs, while Kano has 2 states and 77 LGAs.

The Abacha regime created a parallel government through the Petroleum Trust Fund (PTF) headed by Major General Muhammed Buhari. Nothing else typifies the marginalization of the Yoruba than the lopsidedness of the projects carried out by the PTF. Figures from PTF Situation Reports (Vol. 2 Dec. 98) show that the PTF carried on as if there was no South West.

Of all the roads rehabilitated by the PTF, only 1984.5 kilometres of roads representing 10.84 per cent were carried out in the South West; from where the bulk of the PTF revenue came since the zone consumes over 60 per cent of refined petroleum products.

All the Southern States had 4,440.43 kms or 24 per cent of road rehabilitation as against 13,870.47 kms or 76 per cent in the Northern States zone three comprising the North-West States of Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto and Zamfara had a lion share of 5020 kms or 27.42 per cent because the Fund’s Chairman, Buhari and the military dictator Sani Abacha were from there; zone four comprising the North-East States of Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe picked 23.48 per cent.
This is the zone where Salihijo Ahmed, the late Chief Executive of Afri-Project Consortium APC, the sole consultants that supervised all PTF projects came from.

Figures in other sectors were more scandalous. For instance, under the National Health and Educational Rehabilitation Programme (NHERP), the South West had zero allocation in the tertiary programme, while the North picked 100 per cent.
In the vocational programme, the South West had zero while the North had 97 per cent. In the primary area, the South-West had zero against 88 per cent for the North and in the secondary area, it was zero for the South-West and 86 per cent for the North.

The health sector is similar. For the Teaching Hospitals, the South-West had zero while the North had 62 per cent. For the Specialist Hospitals, it was zero for the South-West and 71 per cent for the North; in General/State Hospitals the Yoruba had nothing while the North had 56 per cent for health clinics, it was zero for the South-West against the North’s 100 per cent.

Under the food supply summary, the Southwest had 7.26 per cent compared with 83 per cent for the North, Buhari’s zone having 60.54 per cent to itself.

Demographic Manipulation: The Northern wielders of power have skewed all demographic indicators to marginalise the Yoruba and confer undue advantage on the North.

For instance, while the old Kano and Lagos used to have the same number of divisions, various demographic manipulations over the years have brought about absurd disparities between the two states.

While the old Lagos remains a state with 20 local governments, the old Kano has become two states-Kano and Jigawa with 77 local governments. These are some of the indices used for revenue sharing. - submission of Afenifere to the Human Rights Violations and Investigation Commission.

Recent finding was that most of the contract money was collected by some big-wigs and the contracts were never executed. Majority of the funds were wasted in Consultants, that were relatively doing nothing. Today, there are no trace of any of these projects that trillions were allocated to.

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