lucenzo:

This is madueke not jonathan. The fact that she‘s corrupt( if true) doesn‘t mean jonathan is corrupt.

Please post like a matured person. Jonathan should be impeached. All of this happening in his government and he is asking the masses to pay for it. This is not a protest against subsidy removal. It is a revolution.

Every company/ or person named should come out and defend their name

These companies should tell the world how much they paid in taxes and how much they lifted

Now we know why many companies are running away from the stock exchange, they dont want the exposure

These companies, the NCC should reveal when they were registered and where their operating from?


Anyone seen Nezors SA's office or truck anywhere?

we realy ahve to expalin how subsidy went from 300b to 1.3trillion in just one year and the only explanation was that our fuel consumption increased  

Each time i pass by this woman's mansion,i always knew she is a big thief.All these while the bit-ch was persuading Nigerians that to accept the subsidy removal but not knowing that she is also a member of the cabal.We want more of this insider scandal especially those in NNPC !

Tridax SA

http://tridaxenergy.com/

briefcase company, briefcase website

Useless people deceived by oyb BB broadcast   . before it was Dangote and Otedola ,

then SLS and NOI . now it is Deizzy and bla bla  .

tomorrow it might just be ?

Fooools

I have always say that jonathans girlfriend madueke's hands are not clean



Wednesday, January 11, 2012 20:49



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Former minister of petroleum, Diezani Allison-Madueke, (L) shakes hands with then acting President Goodluck Jonathan after taking the oath of office during the swearing-in ceremony of new ministers in Abuja, April 6, 2010

Last minute oil deals that cost Nigeria dear

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By Peter Nkanga and Idris Akinbajo

June 12, 2011 12:41PM

Just two days before the federal cabinet dissolved to allow President Goodluck Jonathan appoint a fresh one in recognition of his new electoral mandate, officials in charge of our oil and gas resources secretly signed a deal assigning production rights in at least two large oil blocks to a shadowy company with no prior experience and no fixed address.

Under the direction and with the approval of then petroleum minister Diezani Allison-Madueke, the officials with a magic wave of a pen effectively transferred hundreds of millions of US dollars - possibly billions - in public assets to private individuals without a public tender.

The deal is in apparent violation of Nigeria's Public Procurement Act, which forbids no-tender bids for the procurement of goods and services by any government-owned institution under penalty of imprisonment.

The former Speaker of the House of Representatives, Dimeji Bankole, has been arrested and remains in detention in part for allegedly violating the same law. Mr Bankole faces up to 10 years in prison if found guilty of those particular charges.

The man at the heart of this strange and secretive deal is one Jide Omokore, chairman of a company not yet a year old and which has never produced a barrel of oil. The company, Atlantic Energy Drilling Concept Limited, is the beneficiary of this gift by Mrs Allison-Madueke. For paying to the Nigerian Petroleum Development Company, a fully owned subsidiary of the Nigerian National Petroleum Company (of which Mrs Allison-Madueke, as minister, was chairman) an initial "entrance fee" of slightly more than $50 million for each of the two oil fields, Atlantic now has effective control of the NPDC's 55 percent stake in the oil block. These are rick blocks known in the industry as OML 30 and 34.

Shell, the giant multinational that produces around 50 percent of all of Nigeria's crude, is the beneficial owner of the remaining 45 percent of the blocks. Shell had subjected its share of these oil blocks to an open and transparent competitive bidding process, fetching up to $1.3 billion in a single field. By comparison, Mrs Allison-Madueke's no-bid approach via a so-called "Strategic Alliance Agreement" fetches the federation account an upfront cash payment of little more than $50 million. The true market value, if the Shell approach had been followed, would have been upwards of $1.5 billion.

Mrs Allison-Madueke has shut out established industry players, including local companies, by opting for these secret deals. The transcripts of these "strategic alliance" agreements can be found on our web site, 234NEXT.com.

As she campaigns furiously for reappointment into Mr Jonathan's cabinet, whose nominees may be sent to the Senate for approval as early as this week, Mrs Allison-Madueke has become a major political burden for the president. Her presence in the new government is certain to prove a distraction to the president, who has expressed a strong determination to steer the country away from its persistent underperformance and avarice. As in the past, all attempts to reach Mrs Allison-Madueke for comment were rebuffed. She has said elsewhere that she did nothing wrong and threatens to sue us for exposing these deals.

"The question is why?" said one prominent energy sector source. "Why these particular companies and these particular individuals? Why do these deals secretly? Why deny experienced industry players the opportunity to bid for the same contracts?"

Connecting the dots

Mr Omokore, as chairman of Atlantic Energy, similarly got a sweetheart no-bid deal from Mrs Allison-Madueke in three other oil blocks, as detailed in our report last week. Mr Omokore also is a part-owner of Seven Energy. Septa's managing director, Kola Aluko, also is a director of VistaJet, the private jet leasing company. VistaJet has provided private jets for Mrs Allison-Madueke's use, including as recently as last month, to the annual international petroleum conference in Houston, Texas.

Seven Energy, through its lawyer, Femi Falana, who also acts on behalf of the NNPC, has served notice to this newspaper that it intends to file a lawsuit against us. Phillip Ihenacho, chairman of Seven Energy, has told our reporter that his company has conducted itself honourably and legally in the no-tender transaction approved for his firm by Mrs Allison-Madueke. What is more, an oil trading company controlled by Mr Omokore, called SPOG, faces accusations of fraud in a petition to the office of the attorney general and minister of justice. SPOG is alleged to have, on at least one occasion, imported 3,000 metric tonnes of refined petroleum but claimed subsidy refunds on 13,000 metric tonnes from the PPPRA, the petroleum pricing agency under Mrs Allison-Madueke's supervision. The payoff from that single alleged inflated transaction was N400 million.

Mr Omokore did not respond directly to our inquiries. Atlantic Energy was incorporated only in July last year. As far as we can determine, it has no office or personnel. In its registration documents, the company gave Plot 1267, Ahmadu Bello Way, Abuja as its official address. But our inquiries established that no such company has ever operated out of that location. The company has also never executed a single oil-related contract, undertaken any project, or produced one barrel of crude since it was registered under the names of three people who claim to live in the same address listed as the company's offices.

But it was to this shadowy and inexperienced company that Mrs Allison-Madueke turned for operating rights to two of the most lucrative oil blocks in Nigeria three days before the end of the last administration. Just hours before she attended her last cabinet meeting on Wednesday, May 25, Mrs Allison-Madueke's subordinates, with her approval, basically handed over OMLs 30 and 34 to this barely functional company Atlantic Energy to fund the Nigerian Petroleum Development Co's share of expenditure in exchange for recovering its cost and sharing profits.

Assigning the blocks without open, competitive bidding appears to be a clear violation of industry guidelines, which demand that allocation of oil blocks and the award of service contracts shall be based on an open competitive bidding process to allow every investor, indigenous or foreign, an equal opportunity to explore and develop Nigeria's petroleum resources. The arrangement also seems a violation of the Public Procurement Act 2007, which regulates all procurements by ministries and agencies of the Nigerian government. Officials breaching this law risk a term of imprisonment of between five and 10 years without an option of fine.

The former minister and spokesperson of the NNPC did not return calls or text messages seeking comment. The Department of Petroleum Resources, the agency statutorily charged with supervising all petroleum industry operations being carried out under licenses and leases in order to ensure compliance with the applicable laws and regulations, requested an emailed enquiry but eventually did not respond to our reporter's questions.

Sweetheart deals

The multiple controversial deals in which the former minister is embroiled has made it all but impossible for the president to reappoint her, according to highly placed political leaders. Atlantic Energy's deal with the NPDC to provide financial and technical services in respect of its 55 percent stake in the lucrative OML 30 is perhaps the most astonishing example of these deals shrouded in secrecy. Shell is selling its 45 percent shareholding in the block, after an elaborative competitive bidding process, to Mike Adenuga's Conoil for $1.3bn. For a field that is so lucrative that it yielded 45,000bbl of crude per day in April, Mrs Allison-Madueke's favourite company is to pay, as entrance fee 30 cents per barrel of oil to the Nigerian government and two cents for gas equivalent.

Industry players are aghast

"These people are truly audacious; I have never seen anything like it," said one industry operator who asked not to be identified for fear of jeopardising business relationships with the all-powerful petroleum ministry and the NNPC. A similar deal, hurriedly packaged and finalized on May 25, was signed with Atlantic in respect of OML 34, where Shell also is selling its 45 percent to the Niger Delta Energy and Petroleum Company for $600 million. Earlier in September, the former minister had entered into a service contract with Seven Energy International Limited, through its Nigerian subsidiary, Septa Energy Nigeria Limited, in respect of OML 4, 38, and 41. According to the agreement signed with the company, the firm is to pay a "paltry" $54 million as entrance fee for participating in the three blocks which has Seplat Exploration Production Company as operator. The company will also recover its cost and share profits with NPDC. It can lift crude from the fields and keep the entire proceeds of its sale abroad, contrary to the guideline that requires companies to keep at least 10 percent of their proceeds in Nigerian banks. In a memo to its stakeholders after NEXT broke the story of its deal with the NPDC last week, Seven Energy claimed that its strategic alliance agreement in respect of the three blocks was "modeled after valid service contracts with oil majors in the past." But NEXT's investigation indicates this claim is untrue.

The NNPC acted right in the past

In 2001, NPDC and Agip Energy went into a service contract agreement for the development of OPL 91 (now known as OML 119) - Okono and Okpohu fields - under a joint operatorship. This newspaper can confirm that Agip won the contract after an open, competitive bidding process. The NNPC had at the time advertised in December 1999 for a partner to develop new fields in the block, which is in about 100 meters water depth, and located in the southeastern Niger Delta. The corporation received applications until December 31, 1999, after which it declared Agip the winner of the bid.

"So if NPDC could follow due process 10 years ago, what has changed now?" said a senior official in the NNPC. "Why must they give away assets belonging to the Nigerian people in such a non-transparent way especially when the country now has a procurement law in place?"

A member of the recently defunct Senate Committee on Petroleum (Upstream), which undertook to investigate Mrs Allison-Madueke but was stymied, argued that what the minister did was a tactical reintroduction of single-source procurement abolished in the industry in 2004.

"Single-source negotiation contract has been discontinued in the country since the days of Edmund Dakouru as minister," said the source, who did not want to be specifically identified for fear of reprisal. "It was discontinued because it was causing a lot of fraud. It is shocking that the practice resurfaced under Diezani."


Thine deal be done

As a key figure in this web of secretive arrangements, Mr Omokore cuts an astonishing figure. A wealthy businessman and politician,

his Energy Resources Group has an 11 percent stake in Seven Energy International Limited, owners of Septa. Having swung OML 4, 38 and 41 in Septa's favour, Mr Omokore's coup de grace was to corner OMLs 30 and 34, using the newly formed Atlantic Energy. Company documents give Messrs Albert Bassey Akpan, Bankole Opashi and Sanni Mohammed as shareholders and directors of the firm, a veritable WaZoBia of ethnic balancing. But when time came to sign the controversial agreement with NPDC, Mr Omokore emerged, signing as chairman of the company. Atlantic also gave its registered address as Plot 1267 Ahmadu Bello Way, Abuja, which is a former location for one of Mr Omokore's numerous companies, SPOG Petroleum, which has now moved to Millennium Builder's Plaza in central Abuja. Chijioke Isiolu, the Atlantic Energy company secretary, told our reporter that his company is competent to execute the contract awarded to it because it has a sister company in Seven Energy. Mr Omokore was not available for comment. When our reporter called his Abuja office, an official simply directed enquiries at Mr Isiolu, whom he said could speak on Mr Omokore's behalf. Mr Isiolu later said on the telephone that the allegations against Mr Omokore were false. He promised to provide further information if our reporter could agree to a meeting, not in his office but at unspecified location.

Mrs Allison-Madueke is not officially connected to Seven Energy, but she does indirectly enjoy the hospitality of the company. In June 2010, Vistajet, the UK-based private aviation company, extended its operation to Nigeria through an alliance with Seven Energy. Sources said Vistajet Nigeria, headed by Kola Aluko, one of the owners of Seven Energy and the managing director of its Nigerian subsidiary, Septa Energy, routinely provides a private jet for the minister's convenience, including her trip to the Offshore Technology Conference in Houston last month. Mrs Allison-Madueke accepted this expensive hospitality as she was approving the secret no-bid deal to assign production rights in the oil blocks to Septa, Atlantic and Seven Energy - an apparent contravention of section 6 of the fifth schedule of our constitution.

The constitution stipulates that: "A public officer shall not ask for or accept property or benefits of any kind for himself or any other person on account of anything done or omitted to be done by him in the discharge of his duties. For the purposes of sub-paragraph (1) of this paragraph, the receipt by a public officer of any gifts or benefits from commercial wfirms, business enterprises or persons who have contracts with the government shall be presumed to have been received in contravention of the said sub-paragraph unless the contrary is proved."

Source: 234next. Cant copy the exact link. m using a phone.

That's why she was shaking when they asked her to swear on the bible when she was facing the committee on petroleum matters set up by the house of reps

Rad1cal:

Useless people deceived by oyb BB broadcast   . before it was Dangote and Otedola ,

then SLS and NOI . now it is Deizzy and bla bla  .

tomorrow it might just be ?

Fooools

ode. i don't even have a bb

where is beaf to come and defend is aunty the thief who is responsible for the 'imminent collapse of nigeria's economy'

what a greedy woman . shameless. and her didirin bf  

If this is true, then Allison and haruna of PPMC must be tried accordingly. What is this

....

True or False, all those behind all these should not go scot-free

In as much as i dnt trust these govt officials, let thread carefully with figures.
My questions are:
1. If she really collected 50naira/ltr of kero and fuel, then hw much does d marketers sell to d end user?
2. Hw much does the marketers make per litr after payer d supposed 50 naira?

Pls dnt get me wrong, let dem run dia mouths and lets be carefully not to b decieved and attention diverted.

@ greateros

How sad.

Yes! Everything hiden shall Come to the Open. NIGERIA on the Road to the END.

theres not much else in the website, just some flimsy business  statements.

989900:

True or False, all those behind all these should not go scot-free

Honestly,I wish boko haram can stop killing innocent people and start bombing all these vagabonds in power.

I was going to dismiss this as unfounded rumours at first but there appears to be some evidence to indict this woman who came on TV to claim that Gov't hands are tied.
So she is among the "cabalocracy" tying Nigeria peoples hands.

Drlumi:


Former minister of petroleum, Diezani Allison-Madueke, (L) shakes hands with then acting President Goodluck Jonathan after taking the oath of office during the swearing-in ceremony of new ministers in Abuja, April 6, 2010

Last minute oil deals that cost Nigeria dear


By Peter Nkanga and Idris Akinbajo

June 12, 2011 12:41PM

Just two days before the federal cabinet dissolved to allow President Goodluck Jonathan appoint a fresh one in recognition of his new electoral mandate, officials in charge of our oil and gas resources secretly signed a deal assigning production rights in at least two large oil blocks to a shadowy company with no prior experience and no fixed address.

Under the direction and with the approval of then petroleum minister Diezani Allison-Madueke, the officials with a magic wave of a pen effectively transferred hundreds of millions of US dollars - possibly billions - in public assets to private individuals without a public tender.

The deal is in apparent violation of Nigeria's Public Procurement Act, which forbids no-tender bids for the procurement of goods and services by any government-owned institution under penalty of imprisonment.

The former Speaker of the House of Representatives, Dimeji Bankole, has been arrested and remains in detention in part for allegedly violating the same law. Mr Bankole faces up to 10 years in prison if found guilty of those particular charges.

The man at the heart of this strange and secretive deal is one Jide Omokore, chairman of a company not yet a year old and which has never produced a barrel of oil. The company, Atlantic Energy Drilling Concept Limited, is the beneficiary of this gift by Mrs Allison-Madueke. For paying to the Nigerian Petroleum Development Company, a fully owned subsidiary of the Nigerian National Petroleum Company (of which Mrs Allison-Madueke, as minister, was chairman) an initial "entrance fee" of slightly more than $50 million for each of the two oil fields, Atlantic now has effective control of the NPDC's 55 percent stake in the oil block. These are rick blocks known in the industry as OML 30 and 34.

more on Atlantic Energy Drilling Concept Limited

http://234next.com/csp/cms/sites/Next/Home/5713364-146/jide_omokore_the_man_in_the.csp

Jide Omokore: The man in the middle

By Idris Akinbajo

June 12, 2011 12:44PM
Print print Email email Share Share


Olajide Omokore, the Chairman of Atlantic Energy Drilling Concepts Nigeria Limited and director of Seven Energy International Limited is not new to controversy, as previous companies owned or directed by him have been involved in one controversy or the other.

Atlantic Energy got control of the Nigeria Petroleum Development Company's (NPDCs) 55 percent interest in two oil fields (OML 30, and 34) in controversial circumstances on the expected last day of the former Federal Executive Council. The company is barely a year old, as it was formed in July last year; but it has been one of the greatest beneficiaries of controversial approvals made by Mrs Allison-Madueke.

[size=18pt]During the course of the transaction between Atlantic Energy and NPDC, another company, SPOG petrochemical Limited stood as guarantor for both OML 30, and 34 transactions. Mr Omokore is the executive chairman of SPOG. SPOG is also believed to be a subject of a discreet investigation for fraud by the office of the Attorney General of the Federation. The investigation concerns petrol import. SPOG allegedly imported 3,000 metric tonnes of PMS but filed claims for subsidy payment to Petroleum Product Regulatory Agency on the basis that it imported 13,000 metric tonnes, thus claiming ₦400m more than warranted on a single order.[/size]

Seven Energy Limited, which owns Septa Energy Nigeria Limited, is also one of the business interests of Mr. Omokore. Septa Energy, as reported by NEXT in its last week edition, secured the concession of OML 4, 38, and 41 in controversial circumstances in the last days of the Allison-Madueke regime as petroleum minister.

Seven Energy is partly owned by Energy Resources group, which is chaired by Mr Omokore.

Energy Resources Management Limited, another company owned by Mr Omokore, was also involved in the import waiver scandal. A Daily Trust investigation published in December 2010 revealed that Energy Resources imported 250,000 metric tonnes of rice into the country without paying a dime either as import duties, levies, ECOWAS Trade Liberalisation Scheme (ETLS), Comprehensive Import Scheme (CISS) and other levies because of the waiver it allegedly got from the presidency.

Linked to the Obasanjo campaign Fivatek Nigeria Limited, a wholly-owned subsidiary of Energy Resources Group, was also involved in the crises ridden National Fertilizer Company (NAFCON) before it was sold.

Mr Omokore was alleged to have colluded with Sunny Essien, a former Managing Director of the then publicly-owned company and others to funnel ₦10million belonging to NAFCON into former President Obasanjo's campaign account, largely through the company's account domiciled with the Abuja branch of the defunct Trade Bank. Mr Omokore is believed to have been indicted by the judicial commission of enquiry which looked into the finances of NAFCON.

next may be dead, but their news lives on, and may still bring down the whole dirty house of cards

If she is benefiting this much from subsidy why is she then leading the war for its removal? Something is definitely not adding up.

[img]http://234next.com/csp/cms/sites/dt.common.streams.StreamServer.cls?CONTENTTYPE=image/jpeg&STREAMOID=urxBBE02fJnkAHeLic4WQi6SYeqqxXXqBcOgKOfTXxQFJwI6hfxB0$wp$NoV7lY2nW_PgxgftuECOcfJwS6Jtlp$r8Fy$6AAZ9zyPuHJ25T7a9GKDSxsGxtpmxP0VAUyHL6IDcZHtmM2t7xO$FHdJG95dFi6y2Uma3vSsvPpVyo-[/img]

the real cabal

PHIPEX:

If she is benefiting this much from subsidy why is she then leading the war for its removal? Something is definitely not adding up.

Fu-ck me ! Where you expecting her to support it before ?

GEJ knows very well who the cabal is. He is just to scared to tackle them because they financed his campaign. He rather loot your subsidy to refinance the 'owners' of Nigeria  

PHIPEX:

If she is benefiting this much from subsidy why is she then leading the war for its removal? Something is definitely not adding up.

why else - it is out of control and is cutting into money for reps governors etc. from 300 billion to 1.3 trillion, a 400% increase in stolen money

the party is over, but nigerians must pay for it.

Funkymallam:

In as much as i dnt trust these govt officials, let thread carefully with figures.
My questions are:
1. If she really collected 50naira/ltr of kero and fuel, then hw much does d marketers sell to d end user?
2. Hw much does the marketers make per litr after payer d supposed 50 naira?

Pls dnt get me wrong, let dem run dia mouths and lets be carefully not to b decieved and attention diverted.

That's why subsidy increased to 1.4 trillion, to accommodate the 50naira/liter

DanKan0:

GEJ knows very well who the cabal is. He is just to scared to tackle them because they financed his campaign. He rather loot your subsidy to refinance the 'owners' of Nigeria  

make sense,

the cabal is a known "body" to every one in power,
all the govt officials requesting for the exposure of the cabal, know them pretty well,
they have been making successful(with mutual benefit) deals already.but recently finds out, they(the cabl, the oil tycoon) make more beyond the deal
so they decide to sabotage their plans by removing the subsidy, but at this point in the economic history of nigeria, the removal is not welcome,
hence, the need for a protest

i hope u get my insinuation, (some how logical, requires deep reasoning)

not trying to get on anybody's nerves but with regards to the subside :
i know there was/is a lot of "book cooking" but didn't the price of crude oil change during the time given? maybe subsidy should have increased from 400 to like 800 or so and the rest is "egunje" ?

DanKan0:

GEJ knows very well who the cabal is. He is just to scared to tackle them because they financed his campaign. He rather loot your subsidy to refinance the 'owners' of Nigeria  

You are not making sense bro. If he wants to loot, why go thru all these stress. The easy route is continue with subsidy and keep looting. Why go thru all these fight to loot something you can loot without a fight? If he nadnt talked about removing subsidy, we wont even be having this discussion.

I really like to work wit fAct, in as i no this cld be possible am sure d'poster know that this ar serious claims and if we ar in a real state, deziani will b jailed

SEE WHY WE MUST REJECT REMOVAL OF FUEL SUBSIDY
SEE WHY WE MUST REJECT REMOVAL OF FUEL SUBSIDY

Subject: FUEL SUBSIDY EQUATION

This economic puzzle is simple enough for anyone to solve.

* Fuel subsidy itself is a scam
* Removal of self subsidy is a scam
* Turn around maintenance of refineries is a scam
* Non development of new refineries is a scam
* Insincerity of government is a scam
‎Fuel Subsidy Equation
------------------------
1) One barrel of Crude oil = 42gallons or
159 litres

, 2) Our Refineries (i.e 4) Installed
(combined) capacity = 445,000
, barrels per day

3) Actual refineries capacity due to
ageing equipment = 30% i.e. 133,500
barrels per day
.
4) . . 133,500 barrels = 21.2 million litres

5) Local required consumption (F.O.S) =
12millions litres

6) It means that even our MORIBOND
refineries can actually meet our local
consumption need of petroleum.

7) The cost structure of crude oil (i.e.
Qua Iboe Crude Oil) production;
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69

True cost of one litre of petroleum
anywhere in Nigeria;
- Total sum cost = $34.8
- 1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02

9) Let FGN refute the above composition
and if not, they should tell us how
they came about N65/litre.

10) Locally refined products cannot be
sold at International price.

11) We really do not need FGN SUBSIDY
as there was NONE in the first place.

12) What is LACKING, is the WILL to
enforce LAW ON CORRUPTION.

Pls re-post until it gets to the right quarters for their response;

We still stand a chance as a COUNTRY.

Analysis done by Professor Tam David West, former Petroleum Minister.

Do all these companies exist on paper alone  

A 'whois' query returned rather vague information on Company address in contrast to their own website.
Website states two addresses, one in Switzerland and another in Nigeria - while whois records discloses an address in Florida (12808 Gran Bay Pkwy, West Jacksonville, FL 32258 US ) [/b]which googlemaps seems to be showing as a car park ? ( Either map is incorrect    )


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     Email: cb5d64eb0a16123300252119a0577190@domaindiscreet.com



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