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Indian Ambassador Exposes Ex-petroleum Minister's Shady Deal by tomdon(m): 7:00pm On Aug 23, 2015 |
The Indian High Commissioner to Nigeria,
Ajjampur R. Ghanashyam, has revealed some of
the shady deals that has inhibited the country's
oil transaction under the watch of former
Minister of Petroleum Resources, Diezani Allison
Madueke.
According to a report by Daily Trust, the former
petroleum minister failed to sign a long-term
agreement with New Delhi, Nigeria’s Number One
oil buyer, so as to indulge intermediaries in the
annual $14 billion deal.
In the report, the high commissioner gave a full
detail of how the former minister ensured funds
from the oil deal between the two countries are
paid to intermediaries and not directly to the
government coffers.
' From other countries, when we buy oil, whatever
we want to pay, we pay to the Ministry of
Finance of that country. In Nigeria, we pay to
intermediaries. We would like to be dealing
directly with the Nigeria National Petroleum
Corporation (NNPC). It’s not a good thing. Why
should we go through intermediaries? Secondly,
we would also like to have long term agreement,
which we have with many countries: Iran, Iraq,
Saudi Arabia, and other countries from where we
buy oil. Nigeria is the only country with whom
we don’t have an agreement. .. When we write a
letter to NNPC, we don’t get a response.'
Furthermore, Ghanashyam revealed that aside
the lack of long-term agreement between the
two countries on crude oil purchases, an Indian
company, Oil & Natural Gas Commission Videsh
Limited (OVL) and Mittal Energy International,
applied for oil concession in 2006 but are yet to
get the permission nor $25m signature bonus,
which was paid by the company.
In his words, 'How many years is it? Nine years.
Even to get the concession is not possible, and
the money is not refunded to us. For nine years
your country has been sitting on this, and they
make us go round and round and round.
'We buy $15 billion worth of crude oil per year
and we have the potential of importing $50
billion worth of crude oil from Nigeria. We can
buy more because our requirement is going up.
But if you continue to make us to pay through
agents, and continue to ask us to buy from the
swap market, it means you don’t trust us, and if
you don’t trust us, we have to look for those
who trust us more.
'We are making concessions to Nigeria by buying
your crude oil because you’re our old friends and
we’ve been friends for a long time, and your
crude oil is better quality. But you must take our
interest into account,'he revealed further.
However, Daily Trust reports that investigation
conducted at the Department of Petroleum
Resources (DPR), Abuja revealed that the letter
for the signature bonus was prepared by the
department, but the former minister failed to sign
it until the end of the tenure of the Jonathan
administration.
Meanwhile, the NNPC 2014 Annual Statistical
Bulletin indicated that India bought 136,419,844
barrels of crude oil, at a time when the United
States’ own purchases from Nigeria was
24,047,758. |
Re: Indian Ambassador Exposes Ex-petroleum Minister's Shady Deal by Xeinstra1(f): 7:08pm On Aug 23, 2015 |
Really. |
Re: Indian Ambassador Exposes Ex-petroleum Minister's Shady Deal by Realisticman: 7:47pm On Aug 23, 2015 |
Stealing is in 'their' blood. There is nothing one can do about it. |
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