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Buhari, Not Jonathan, Responsible For Refineries Resuming Production - Politics - Nairaland

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Buhari, Not Jonathan, Responsible For Refineries Resuming Production by PassingShot(m): 9:50am On Jun 20, 2015
We have read on different occasions how one refinery or the other is set to resume production late June or early July. The news got to its climax yesterday with the announcement by NNPC’s spokesperson, Ohi Alegbe, that ALL four refineries “will be fully operational from next month”.

As usual, some GEJ supporters/sympathizers lavished praises on him for his efforts to make those refineries work which are only manifesting with the announcement. To support their line of argument, they quote Ohi Alegbe in his announcement when he said that “The turn-around-maintenance has been on for some time. We did not just want to make any noise about it. The refineries will start production as soon as they have delivery of crude oil for refining,”

The challenge for some of us now is to put the words of the NNPC’s spokesman to critical test of evaluation viz-a-viz what we were told by the same NNPC about our refineries in the recent past.

1. January 2012 - FG Signs TAM Contract with Builders of Refineries
Worried by the frequent demand for functional refineries in the country as a way out of petroleum products’ importation, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has disclosed that Nigeria will this week sign a formal contract for the planned turn-around maintenance (TAM) of all its traditional refineries with their original builders.

She said in a statement in Abuja Tuesday that the contract or agreement for the TAM would be signed by the Ministry of Petroleum Resources, Nigerian National Petroleum Corporation (NNPC) and the original builders of the refineries. http://www.thisdaylive.com/articles/fg-signs-tam-contract-with-builders-of-refineries/106886/

And what did we get about six months after this news report?

2. July 2012 - Two of Nigeria’s refineries pack up …others produce at 25% of installed capacity:
The four Federal Government-owned refineries in the country are producing refined petroleum products at an abysmally low level. Investigations by SATURDAY PUNCH show that the refineries are producing at about 25 per cent of installed capacity. The investigations show that only two of the refineries – the Warri and Kaduna refineries – are partially functional at the moment. The remaining two located in Port Harcourt are struggling with faults that have prevented them from adding to the quantity of fuel produced locally.

The old refinery in Port Harcourt has not been in operation for several months, while the new refinery, which before now was contributing to the quantity of locally-refined products, has also stopped operation because of lack of electricity.
Specifically, the two refineries in Port Harcourt have not been working since January 2012, when the anti-subsidy removal protests spearheaded by organised labour and civil society groups took place.
http://www.punchng.com/news/two-of-nigerias-refineries-pack-up-others-produce-at-25-of-installed-capacity/

3. August 2012 - FG Signs Heads of Agreement on Kaduna, Warri Refineries
The Federal Government has signed Heads of Agreement (HOA) with reputable international contractors for a comprehensive maintenance of Kaduna and Port Harcourt Refineries.

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, who stated this at a recent oil and gas conference in Lagos, added that the government was concluding the terms contract for the Turn Around Maintenance (TAM) of the Port Harcourt Refinery.
http://www.thisdaylive.com/articles/fg-signs-heads-of-agreement-on-kaduna-warri-refineries/122284/

4. December 2012 - NNPC plans to repair three refineries with N152bn
The Nigerian National Petroleum Corporation will spend N152bn on the repair of three of the nation’s refineries in 2013. The amount is contained in the budget document submitted to the National Assembly Joint Committee on Petroleum (Downstream) last week.
http://www.thisdaylive.com/articles/fg-signs-heads-of-agreement-on-kaduna-warri-refineries/122284/

As usual, the planned repair didn't translate to any cogent result because by June 2014, our refineries combined to produce at 10% capacity:

5. Oct., 2014 - Refineries Operated At 10.5% Capacity in June – NNPC
The country’s refineries operated at an average of 10.46 per cent of their combined nameplate capacity of 445,000 barrels per day in June, latest data from the monthly report of the Nigerian National Petroleum Corporation has shown.
http://hotnaijaupdate.com/refineries-operated-at-10-5-capacity-in-june-nnpc/

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Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by PassingShot(m): 9:50am On Jun 20, 2015
Before March 28, 2015 Elections:

6. Feb 2015 - Nigerian Engineers to Repair Refineries for N99bn –NNPC
The Nigerian National Petroleum Corporation on Wednesday said it had engaged the services of in-house engineers to rehabilitate the country’s three ailing refineries at a cost of $550m (N99bn), down from the $1.6bn (N288bn) presented to it by foreign contractors.
The refineries are the Port Harcourt Refining Company, Kaduna Refining and Petrochemical Company Limited and the Warri Refining and Petrochemical Company Limited.

The Group Executive Director, Refining and Petrochemicals, NNPC, Mr. Ian Udoh, stated that the corporation resolved to use indigenous engineers because it could not pay the bills of foreign contractors who were nominated by the original builders of the refineries.
http://www.punchng.com/business/business-economy/nigerian-engineers-to-repair-refineries-for-n99bn-nnpc/


Still in March 2015:

7. March 2015 – NNPC to repair refineries with $550m
The Turn Around Maintenance (TAM) of the nation’s refineries will cost $550million, the Nigerian National Petroleum Corporation (NNPC) said yesterday. The corporation blamed the TAM’s delay on the refusal of the original builders of the four refineries to handle the maintenance contracts.
There are two refineries in Port Harcourt, one in Kaduna and another in Warri. They are all working below capacity, unable to meet the consumption demands of Nigerians. http://thenationonlineng.net/new/nnpc-to-repair-refineries-with-550m/

8. As recent as March 6, 2015 - Refineries’ll be back on stream 2016 –NNPC
Nigerian National Petroleum Corporation, NNPC, yesterday assured that the nation’s four refineries would be fully back on stream in the first quarter of 2016. The corporation also explained why the refineries have not been working optimally, disclosing that NNPC could not afford to pay the outrageous charges of its builders.

The corporation’s Coordinator, Corporate Planning and Strategy, Dr. Tim Okon, disclosed these while updating members of the Senate Committee on Petroleum (Downstream) on activities of the refineries.
http://nationalmirroronline.net/new/refineriesll-be-back-on-stream-2016-nnpc/
June 18, 2015 - Nigeria’s refineries to resume production next month
http://www.ngrguardiannews.com/2015/06/nigerias-refineries-to-resume-production-next-month-official/


Going by the stated sequence of events in our refineries as given by NNPC, is there any link or development in the time past to warrant getting the latest news that our refineries will resume production in July?

The spokesman, Ohi Alegbe, stated that “the operations resume after a successful turn-around-maintenance (overhaul) of their facilities” but they didn’t just want to make noise about it! Who is fooling who?

Let GEJ’s supporters help us answer the following questions?
1. When has TAM of plants become an action conducted in secrecy?
2. When was the TAM awarded and to which company?
3. If local engineers were used, who paid the N99bn that was reported to be needed as recent as last February?

Conclusion
I am of the strong opinion that GEJ was completely fooled not only by Diezani and her cohorts but also by the sycophants he surrounded himself with. The man must surely be biting his fingers wherever he is currently. In not making our refineries work, the oil cabals saw a huge avenue to corruptly enrich themselves and they seized the opportunity through oil subsidies.

It is not unknown what PMB’s stand on fuel subsidy is. He has consistently maintained that the oil subsidy was a fraud and that he would look into why our refineries have not worked. PMB recently rubbished the fuel subsidy scam when he said “I don’t know what fuel subsidy means” - http://dailytrust.com.ng/sunday/index.php/top-stories/20804-i-don-t-know-what-fuel-subsidy-means-buhari.

The president has also been reported to be set to probe NNPC N30trn unaccounted oil revenue under Jonathan - http://www.nationaldailyng.com/news/latest-news/4116-buhari-set-to-probe-nnpc-n30trn-unaccounted-oil-revenue-under-jonathan

The fact of the matter is that, NNPC’s top shots are aware of what PMB knows. They know him to know the workings of NNPC and our refineries having been a petroleum minister and a former Head of State. As such, it is reasonable to expect the corporation (NNPC) to act differently with him than what they did with GEJ.

The famous quote by Abraham Lincoln is very apt here:
“You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.”


I therefore challenge any of GEJ's supporters and sympathizers to prove otherwise.

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Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by eleojo23: 9:54am On Jun 20, 2015
Whether it is GEJ or Buhari that is responsible, all of that is just for political discussion and arguments.

What matters to Nigerians is that the refineries will finally start working and they get to spend less on fuel. Period.

Those who have the time can go ahead and engage in arguments and debate on the issue.

112 Likes 8 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Elslim: 9:54am On Jun 20, 2015
tell 'em

6 Likes 1 Share

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Nobody: 9:57am On Jun 20, 2015
.
Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Nobody: 9:58am On Jun 20, 2015
Is this for real?

2 Likes

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by andresia(m): 9:59am On Jun 20, 2015
Sai Buhari!

Kai Jonathan!

112 Likes 5 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by CSTR2: 9:59am On Jun 20, 2015
Idiott.
On one hand it is too early for buhari to stem the tides of bokoharam, yet it is not too early for buhari to claim another man's labours.
Replying to your thread beyond this would be a very stupidd thing to do.
Enjoy your self-delusion with your likes.
Bye.

303 Likes 30 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by GOATandYAMtheory: 10:00am On Jun 20, 2015
Sure, passingshot. To the best of my knowledge, the refineries could have been fixed during GEJ's regime, but they chose to tell Nigerians a story that will give them enough opportunity to scam us till the end of their tenure.

I could remember vividly when the NNPC gave estimate of how much it will cost them to fix our refineries (in Feb 2015 b4 handing over), when they also gave us the duration of a year b4 it can be operational.

In NNPC's words:
"We examined the work scope and picked up the essential things that we must do to get these refineries to operate optimally at around 90 per cent of capacity. That was done and we did the pricing template; not the international rates, we used the local rates. And everything for the three refineries combined came to around $550m, which is significant, maybe up to 70 per cent reduction."

“Even the $550m is quite much. So, we amortised it over 18 months so that we will be able to swallow it in bits more easily. The 18 months started since last October and this means that early next year, the refineries should be in shape."
http://www.punchng.com/business/business-economy/nigerian-engineers-to-repair-refineries-for-n99bn-nnpc/

I wonder what happened overnight that they are now saying it will begin to funtion by next month.

Now this is my "church mind"; if President Muhammadu Buhari refuses to jail any1, among those involved in this NNPC scam, the respect I have for him will reduce or even vanish. angry angry angry undecided

130 Likes 6 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Maghan37: 10:01am On Jun 20, 2015
Was it not in dis same nairaland dat an article was written about hw noithing was wrong with d refineries dat was receiving budget & yet not put into effect 4 cynical reasons on d part of Mrs maduekwe & fellow importers So I wonder why GEJ's admin shld be praised 4 d reinaries dat were not used.

38 Likes 4 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Nobody: 10:02am On Jun 20, 2015
Of course..OP is right

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Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by IsraeliAIRFORCE: 10:02am On Jun 20, 2015
When will all these disgusting statements by repackaging agents stop after selling this lie called change?

Even from the provision of subsidy payment in 2015 budget, there is this clear recognition that our refineries will come on stream hence only N149B was provided for entire 2015 as against more than half trillion spent on the previous years

54 Likes 6 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by warripekin(m): 10:03am On Jun 20, 2015
Buhari indeed. How could he have done it. Pls stop deluding ur self. The dauradullard is not ready and is not willing. Nigeria is running on autopilot since may 29.

70 Likes 7 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by temitemi1(m): 10:03am On Jun 20, 2015
TRASH bin please...
PassingShot:
Before March 28, 2015 Elections:

6. Feb 2015 - Nigerian Engineers to Repair Refineries for N99bn –NNPC
The Nigerian National Petroleum Corporation on Wednesday said it had engaged the services of in-house engineers to rehabilitate the country’s three ailing refineries at a cost of $550m (N99bn), down from the $1.6bn (N288bn) presented to it by foreign contractors.
The refineries are the Port Harcourt Refining Company, Kaduna Refining and Petrochemical Company Limited and the Warri Refining and Petrochemical Company Limited.

The Group Executive Director, Refining and Petrochemicals, NNPC, Mr. Ian Udoh, stated that the corporation resolved to use indigenous engineers because it could not pay the bills of foreign contractors who were nominated by the original builders of the refineries.
http://www.punchng.com/business/business-economy/nigerian-engineers-to-repair-refineries-for-n99bn-nnpc/


Still in March 2015:

7. March 2015 – NNPC to repair refineries with $550m
The Turn Around Maintenance (TAM) of the nation’s refineries will cost $550million, the Nigerian National Petroleum Corporation (NNPC) said yesterday. The corporation blamed the TAM’s delay on the refusal of the original builders of the four refineries to handle the maintenance contracts.
There are two refineries in Port Harcourt, one in Kaduna and another in Warri. They are all working below capacity, unable to meet the consumption demands of Nigerians. http://thenationonlineng.net/new/nnpc-to-repair-refineries-with-550m/

8. As recent as March 6, 2015 - Refineries’ll be back on stream 2016 –NNPC
Nigerian National Petroleum Corporation, NNPC, yesterday assured that the nation’s four refineries would be fully back on stream in the first quarter of 2016. The corporation also explained why the refineries have not been working optimally, disclosing that NNPC could not afford to pay the outrageous charges of its builders.

The corporation’s Coordinator, Corporate Planning and Strategy, Dr. Tim Okon, disclosed these while updating members of the Senate Committee on Petroleum (Downstream) on activities of the refineries.
http://nationalmirroronline.net/new/refineriesll-be-back-on-stream-2016-nnpc/
June 18, 2015 - Nigeria’s refineries to resume production next month
http://www.ngrguardiannews.com/2015/06/nigerias-refineries-to-resume-production-next-month-official/


Going by the stated sequence of events in our refineries as given by NNPC, is there any link or development in the time past to warrant getting the latest news that our refineries will resume production in July? The spokesman, Ohi Alegbe, stated that “the operations resume after a successful turn-around-maintenance (overhaul) of their facilities” but they didn’t just want to make noise about it! Who is fooling who?
Let GEJ’s supporters help us answer the following questions?
1. When has TAM of plants become an action conducted in secrecy?
2. When was the TAM awarded and to which company?
3. If local engineers were used, who paid the N99bn that was reported to be needed as recent as last February?

Conclusion
I am of the strong opinion that GEJ was completely fooled not only by Diezani and her cohorts but also by the sycophants he surrounded himself with. The man must surely be biting his fingers wherever he is currently. In not making our refineries work, the oil cabals saw a huge avenue to corruptly enrich themselves and they seized the opportunity through oil subsidies.

It is not unknown what PMB’s stand on fuel subsidy is. He has consistently maintained that the oil subsidy was a fraud and that he would look into why our refineries have not worked. PMB recently rubbished the fuel subsidy scam when he said “I don’t know what fuel subsidy means” - http://dailytrust.com.ng/sunday/index.php/top-stories/20804-i-don-t-know-what-fuel-subsidy-means-buhari.

The president has also been reported to be set to probe NNPC N30trn unaccounted oil revenue under Jonathan - http://www.nationaldailyng.com/news/latest-news/4116-buhari-set-to-probe-nnpc-n30trn-unaccounted-oil-revenue-under-jonathan

The fact of the matter is that, NNPC’s top shots are aware of what PMB knows. They know him to know the workings of NNPC and our refineries having been a petroleum minister and a former Head of State. As such, it is reasonable to expect the corporation (NNPC) to act differently with him than what they did with GEJ.

The famous quote by Abraham Lincoln is very apt here:
“You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.”

68 Likes 7 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by adioolayi(m): 10:03am On Jun 20, 2015
temitemi1:
TRASH bin please...
Are you pained? tongue

89 Likes 4 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by PassingShot(m): 10:05am On Jun 20, 2015
GOATandYAMtheory:
Sure, passingshot. To the best of my knowledge, the refineries could have been fixed during GEJ's regime but they chose to tell Nigerians a story that will give them enough opportunity to scam us till the end of their tenure.

I could remember vividly when the NNPC gave estimate of how much it will cost them to fix our refineries in May 2015(b4 handing over), also giving a duration of a year b4 it can be operational.

I wonder what happened overnight that they are now saying it will begin to funtion by next month.
This is part of the mystery!

12 Likes 1 Share

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by geesampower(m): 10:06am On Jun 20, 2015
Op, I must admit. Your argument makes a lot of sense. IF it was a function of the last administration (GEJ) I don't think they would have been telling us in March (gej as president) that we would be having functional refineries by 2016, then all of a sudden back-track and say refineries will be functional in a months time.
I believe there is more to this than we are being told and we can't exclude the fact that it has to do with buhari. This is not about taking sides but examining the facts


Affordable Solar Power Here

64 Likes 6 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Jorussia(m): 10:07am On Jun 20, 2015
.I believe the NNPC and the ministry of petroleum were not sincere about the real state of our refineries. They kept on telling Nigerians that they have signed turnaround maintenance, and yet no work on ground to show for it.In the past administration,we were told that turnaround maintenance takes between 6-12 months,but one wonders how this turnaround maintenance is taking few weeks to do.The bottom line is,our refinery was not as bad as we were made to believe, rather the agents of NNPC and ministry wanted the continuation of petroleum importation for their selfish interest.Its the body language of PMB,that has brought this new development.

68 Likes 3 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by funlord(m): 10:11am On Jun 20, 2015
grin This is simply more damned lies and statistics!

11 Likes 1 Share

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by geesampower(m): 10:12am On Jun 20, 2015
GOATandYAMtheory:
Sure, passingshot. To the best of my knowledge, the refineries could have been fixed during GEJ's regime but they chose to tell Nigerians a story that will give them enough opportunity to scam us till the end of their tenure.

I could remember vividly when the NNPC gave estimate of how much it will cost them to fix our refineries in May 2015(b4 handing over), also giving a duration of a year b4 it can be operational.

I wonder what happened overnight that they are now saying it will begin to funtion by next month.
Exactly. All of a sudden it was possible to repair the refineries with JUST 99billion naira while we spent over 4trillion naira subsidizing on imported petroleum products the same refineries cld be producing.

Affordable Solar Power Here

44 Likes 2 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Rose2014: 10:13am On Jun 20, 2015
CSTR2:
Idiott.
On one hand it is too early for buhari to stem the tides of bokoharam, yet it is not too early for buhari to claim another man's labours.
Replying to your thread beyond this would be a very stupidd thing to do.
Enjoy your self-delusion with your likes.
Bye.

U've said it all

40 Likes 4 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by after1: 10:14am On Jun 20, 2015
[s]
CSTR2:
Idiott.
On one hand it is too early for buhari to stem the tides of bokoharam, yet it is not too early for buhari to claim another man's labours.
Replying to your thread beyond this would be a very stupidd thing to do.
Enjoy your self-delusion with your likes.
Bye.
[/s]

You are the ediot. You can counter him without cursing the guy, why are you people like this? You blame those APC guys for same thing you are doing now.

71 Likes 2 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by IsraeliAIRFORCE: 10:15am On Jun 20, 2015
APC were crying for absence of subsidy provision in 2015 budget to the amazement of all Nigerians because they had no clue of President Jonathan's plans on how to go around subsidy in 2015.

Goodluck Jonathan and his economic team have worked out how to manage low crude prices and still keep the country flying hence the overhauling of all the country's refineries.

Ask yourselves, Why should Jonathan drastically cut subsidy budget if the refineries were not going to work? Answer - He has taken care of our refineries

Remember, our refineries are outdated hence spares are difficult to assess because original equipment manufacturers have stop supporting the system.

68 Likes 7 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Nobody: 10:16am On Jun 20, 2015
CSTR2:
Idiott.
On one hand it is too early for buhari to stem the tides of bokoharam, yet it is not too early for buhari to claim another man's labours.
Replying to your thread beyond this would be a very stupidd thing to do.
Enjoy your self-delusion with your likes.
Bye.

Instead of calling him an I'diot why don't you counter his points smiley

40 Likes

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by meracool(m): 10:16am On Jun 20, 2015
NNPC is just too shady for this reason GEJ did nothing to the refineries

All he gave us were all scam Oil Subsidy, green fields refinery etc....

If GEJ was the winner of the election NNPC will still maintain that the refineries will work in 2016.

23 Likes 2 Shares

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by iPopAlomo(m): 10:18am On Jun 20, 2015
and why Gej couldn't list it as one of his under achievement...

8 Likes 1 Share

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by PassingShot(m): 10:19am On Jun 20, 2015
eleojo23:
Whether it is GEJ or Buhari that is responsible, all of that is just for political discussion and arguments.

What matters to Nigerians is that the refineries will finally start working and they get to spend less on fuel. Period.

Those who have the time can go ahead and engage in arguments and debate on the issue.
It matters so as to know if we made the right decision in the last election.

It will help us to shape the future as well. Who achieves what and at what time is necessary to shape our discussion for a better society.

7 Likes 1 Share

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by chamboy(m): 10:20am On Jun 20, 2015
GOATandYAMtheory:
Sure, passingshot. To the best of my knowledge, the refineries could have been fixed during GEJ's regime, but they chose to tell Nigerians a story that will give them enough opportunity to scam us till the end of their tenure.

I could remember vividly when the NNPC gave estimate of how much it will cost them to fix our refineries (in Feb 2015 b4 handing over), when they also gave us a duration of a year b4 it can be operational.

In his words "We examined the work scope and picked up the essential things that we must do to get these refineries to operate optimally at around 90 per cent of capacity. That was done and we did the pricing template; not the international rates, we used the local rates. And everything for the three refineries combined came to around $550m, which is significant, maybe up to 70 per cent reduction."

“Even the $550m is quite much. So, we amortised it over 18 months so that we will be able to swallow it in bits more easily. The 18 months started since last October and this means that early next year, the refineries should be in shape."

http://www.punchng.com/business/business-economy/nigerian-engineers-to-repair-refineries-for-n99bn-nnpc/

I wonder what happened overnight that they are now saying it will begin to funtion by next month.

Lemme conclude my church mind by saying, if President Muhammadu Buhari no carry anybody go kirikiri among these pple involved in the NNPC scam, I swear the respect I have for him will diminish.
they Suddenly Changed as soon as their Boyfriend "Buhari" Won Election..

Change is sweet

12 Likes 1 Share

Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by TheOtherview: 10:20am On Jun 20, 2015
PassingShot, your head dey there (a turn of phrase I picked up on NL) grin

But wait; you forgot to mention that Madam Minister's subterranean attempts to mothball and then offload those refineries to her cronies, also accounted for the delay.

How Diezani Alison-Madueke Plans To Sell Refineries To Fronts

NOV 26, 2013



e planned sale of Nigeria's four refineries next year is a well-designed scam calculated to hand over the country's premium downstream assets to associates and fronts of the Minister of Petroleum Resources, Diezani Alison-Madueke, who is also representing the financial interests of President Goodluck Jonathan in the deal, SaharaReporters can report.

According to several senior officials at the ministry, four of the minister's friends have been penciled in to emerge as preferred bidders by “any means necessary” even as the Bureau for Public Enterprise (BPE) has announced its readiness to commence the sales next year. Top on the list of the “preferred” buyers is Mr. Jide Omokore, the multi-billionaire PDP figure who has received numerous juicy deals since Ms. Alison-Madueke was made Minister of Petroleum Resources by President Goodluck Jonathan in 2010. Mr. Omokore is the chairman of Energy Resources Group, whose subsidiary, Atlantic Energy Drilling Concept Limited, was involved in a highly scandalous operatorship take-over of the oil mining licenses (OMLs) of the Nigerian National Petroleum Corporation (NNPC) in 2011.

Mr. Omokore, whose private jet is regularly put at the disposal of Ms. Alison-Madueke (as do jets by her other fronts and associates), famously funded an obscene wedding in Dubai for his son, Oluwatosin, last June. Some estimates put the cost of the wedding, which was attended by state governors, ministers, senior civil servants, senators, former governors and political godfathers, at $10 million. Oluwatosin’s bride is Faisal AbdulKadir-Fari, a daughter of Ambassador Abdulkadir-Fari, then the Permanent Secretary in the Ministry of Petroleum Resources.

Another “preferred” buyer, Kola Aluko was also involved in the controversial OML operatorship deal through his company, Septa Energy, a subsidiary of Seven Energy. While Mr. Omokore's company got oil bloc numbers 26, 30, 34, and 42, Igho Salome's Taleveras got OMLs 4, 38 and 41. In the questionable deal, Shell divested its operatorship in the OMLs. By law, the ownership automatically reverted to the NNPC which manages oil assets on behalf of the Federal Government of Nigeria. At first, the NNPC had transferred its operatorship to its exploration subsidiary, Nigerian Petroleum Development Company (NPDC).

But in a curious twist, the NPDC said it did not have the financial resources to operate the OMLs. The group then organized a “strategic loan” deal with Atlantic Energy and Septa Energy to provide the funds. Under the questionable deal, Mr. Omokore and Mr. Aluko's companies were to receive crude oil allocation of over 40,000 barrels per day as “loan repayment.” An oil industry expert told SaharaReporters that the deal, which was officially called “strategic alliance and service contract,” will cost Nigerian taxpayers billions of dollars.

Another NNPC insider told Sahara Reporters, “Where in the world would you own seven lucrative oil blocks and then claim you do not have the finances to operate them? Those are enormous bankable assets. There is no bank NPDC will approach in the world that will not jump at the opportunity to finance the operations. Remember these are not mere oil prospecting licenses (OPLs). They are OMLs. Oil had been found there. Shell had been producing oil from the wells. It only decided to relinquish its interest to focus on in its offshore wells.”

Several of our sources questioned NPDC’s claim that it needed to bring in Atlantic Energy and Septa Energy to finance the production. “It all had to do with the minister’s financial stake,” said one of them, insisting that Ms. Alison-Madueke had a reputation for tailoring oil policies to benefit her pocket.

“The same NNPC that claimed it could not secure the finances to operate the oil blocks later took out a loan of $1.6 billion to pay dubious debts owed to shady oil dealers,” another insider told Sahara Reporters, further highlighting how greedy and selfish government officials strangulate the country. He said the minister cannot come up with any satisfactory justification for her scandalous policy of mortgaging the country's oil assets to her friends.


Meanwhile, our sources identified the other two “preferred” buyers for the refineries as Talevaras, a firm owned Mr. Igho Salome, and Sahara Energy, owned by the trio of Tonye Vole, Tope Osinubi and Ade Odunsi. Talevaras has increasingly come under the spotlight because of its sudden rise to prominence in Nigeria’s business scene. The firm was recently declared the “winner” of the bid for the Afam Power Plant, despite its lack of any experience in the power sector. The Afam Power Plc was among 18 assets of the Power Holding Company of Nigeria (PHCN) which were put up for privatization. Initially, none of the bids received for Afam Power Plc was deemed qualified. But the government suddenly announced Taleveras as the winners of the bid.

“I can assure you that the same style will be adopted to hand over Nigeria’s refineries to the minister's fronts, usually referred to as preferred buyers,” an official of the Ministry of Petroleum Resources said. He continued, “It is not a coincidence that the minister went to announce to the whole world that the refineries would be sold first quarter next year even when there were no such plans disclosed to the BPE. It should be of interest you that the BPE made its own pronouncement a week after the minister's, just to rubber-stamp it. BPE indirectly exposed her plot when it said the process would commence first quarter next year, rather than the refineries being sold first quarter next year as pronounced by her.”

Sahara Energy was also indicted in a report by a Swiss non-governmental organization, the Berne Declaration. The report revealed that Nigerian oil marketing companies perpetrated widespread subsidy fraud running into several billions of dollars. Titled “Swiss Traders’ Opaque Deals in Nigeria,” it also accused the NNPC of colluding with international oil traders to defraud Nigeria. The report revealed that Sahara Energy, Rahamaniyya Group, Aiteo Energy Resources Limited, Ontario Oil and Gas Limited, Tridax Energy, Mezcor Limited and MRS Group had established subsidiaries, also called "letter-box" companies, in Geneva, Switzerland, with no real business activities.

The report disclosed that these companies established the subsidiaries primarily for tax advantages, and also for easy access to international capital. But four of the companies, namely Sahara Energy, Rahamaniyya, Aiteo Energy and MRS, were investigated by the House of Representatives Ad Hoc Committee and cleared in a widely discredited report that culminated in the infamous $620,000 bribery scandal involving the chairman of the House probe committee, Farouk Lawan, and billionaire businessman, Femi Otedola.

According to the Swiss NGO report, the opaque partnership between NNPC and the Swiss oil traders ensures that the profit generated escapes state coffers. Describing this as “not trivial,” the report stated: “By way of example, in 2011 the amount withheld from state coffers came to $8.739 billion. The public coffers were directly penalized. The same year, the revenues from oil fell by 39 per cent against the amount budgeted. And this is despite a rise in the price of oil.”

Source

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Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by GOATandYAMtheory: 10:21am On Jun 20, 2015
PassingShot:

This is part of the misery!
passingshot, I have attached the source so the post so the TANoids won't argue blindly as usual. Thanks for this write-up

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Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by Jorussia(m): 10:21am On Jun 20, 2015
IsraeliAIRFORCE:
APC were crying for absence of subsidy provision in 2015 budget to the amazement of all Nigerians because they had no clue of President Jonathan's plans on how to go around subsidy in 2015.

Goodluck Jonathan and his economic team have worked out how to manage low crude prices and still keep the country flying hence they overhauling of all the country's refineries.

Ask yourselves, Why should Jonathan drastically cut subsidy budget if the refineries were not going to work? Answer - He has taken care of our refineries
taking care of refineries, when NNPC said the refineries will be back by 2016?Turnaround maintenance already on and GEJ didn't use it for campaign? My guy,please be reasonable.

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Re: Buhari, Not Jonathan, Responsible For Refineries Resuming Production by sinkhole: 10:21am On Jun 20, 2015
Thank God for those of us who voted for Baba o! If not so those refineries would have still be under TAM by now with another billions of dollars given out while the masses groan!

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