From the report of Honorable Farouk Lawan’s probe comes this list of Oil Marketers deemed to have collected subsidy funds illegally from the Federal Government. The Probe report indicates that they return these amounts:
S/N NAME OF MARKETER Amount

1. ACORN PLC N8,514.900,513.00
2. ALIMINNUR RESOURCES LTD N2,543,800,931.00
3. AMG PETRO-ENERGY LTD N7,226,773,136.00
4 ANOSKYE GROUP OF COMPANIES LTD N1,318,443,535.00
5. ASCON OIL AND GAS COMPANY N4,451,932,090.00
6. AVANT GARDE ENERGY N1,154,824,298.00
7. A-Z PETROLEUM N8,065,557,645.00 owned By Chika Okafor
8. CAH RESOURCES ASSOCIATION LTD N24,206,727.00
9. CONOIL PLC N3,027,526,589.00 owned Mike Adenuga
10. CRUST ENERGY LTD N1,192,651,581.00
11. DOWNSTREAM ENERGY SOURCE LTD N2,947,780,261.00
12. DOZZY OIL AND GAS LTD N1,587,298,801.00
13. DUPORT MARINE LTD N3,555,127,358.00
14. ECO-REGEN LTD N3,339,101,218.00
15. EURAFIC OIL AND COASTAL SERVICES LTD N3,868,147,024.00
16. FIRST DEEP WATER DISCOVERY LTD N932,207,739,.00
17. FRADRO INTERNATIONAL LTD N3,661,643.268.00
18. FRESH SYNERGY LTD N1,417,029,059.00
19. HEYDEN PETROLEUM N3,345,456,733.00
20. IBAFON OIL LTD N1,474,479,459.00
21. IMAD OIL &GAS LTD N2,701,002,852.00
22. INTEGRATED OIL & GAS N13,252,055,429.00
23. INTEGRATED RESOURCES LTD N1,166,486,995.00
24. IPMAN INVESTMENT LTD N7,538,586,178.00
25. KNIGHTS BRIDGE N1,685,869,439.00
26. UNETRALE OIL SUPPLY & TRADING CO. N1,213,903,930.00
27. UNGO OIL AND GAS COMPANY LTD N1,201,297,922.00
28. LLOYDS ENERGY LTD N4,370,512,172.00
29. LOTTOU OIL &GAS LTD N1,427,429,910.00
30 MAIZUBE PETROLEUM LTD N5,509,407,903.00
31. MATRIX ENERGY OIL & GAS LTD N11,211,040,786.00
32. MENOL OIL & GAS LTD N4,333,348,489.00
33. MOB INTEGRATED SERVICES N5,066,786,851.00
34. MOBIL OIL NIGERIA PLC N2,660,968,597.00
35. MUT-HASS N1,102,084,041.00
36. NADABO ENERGY LTD N2,660,902,801.00
37. NASAMAN OIL SERVICES LTD. N3,441,253,193.00
38. NATICEL PETROLEUM LTD N5,276,169,320.00
39. NEPAL OIL &GAS SERVO LTD N2,353,911,978.00
40. NIPCO PLC N7,838,353,057.00
41. OAKFEILD SYNERGY NETWORK LTD N988,920,219.00
42. OCEAN ENERGY N1,778,180,051.00
43 OILBATH NIGERIA LTD N1,019,644,138.00
44. ONTARIO NIGERIA LTD N4,248,727,148.00
45. ORIGIN OIL &GAS LTD N4,141,367,099.00
46. PETROTRADE ENERGY LTD N908,805,371.00
47. PHOENIX OIL COMPANY LTD N1,827,838,204.00
48. PRUDENT ENERGY & SERVICES LTD N1,360,898,638.00
49. RAINOIL LTD N1,266,773,492.00
50. ROCKY ENERGY LTD N1,620,110,167.00
51. RYDEN OIL LTD N451,150,983.00
52. SEA PETROLEUM & GAS CO. LTD N1,019,571,609.00
53. SEDEC ENERGY LTD N845,226,771.00
54. SETANA ENERGY LTD N2,791,264,070.00
55. SHEILD PETROLEUM CO. NIG. LTD N1,502,198,610.00
56. SIFAX OIL &GAS COMPANY LTD N3,589,063,041.00
57. SOMERSET ENERGY SERVICES LTD N2,172,206,037.00
58. STONEBRIGDE OIL LTD N1,784,158,258.00
59. SULPHUR STREAMS LTD N4,758,693,054.00
60. SWIFT OIL LTD N5,062,403,555.00
61. TAURUS OIL & GAS LTD N6,472,821,001.00
62. TECHNO OIL LTD N547,179,342.00
63. TONIQUE OIL SERVICES LTD N3,827,112,622.00
64 TOP OIL & GAS DEV CO. LTD N7,367,662,306.00
65. TOTAL NIGERIA PLC N1,931,075,306.00
66. VALCORE ENERGY LTD N8,709,548,082.00
67. VIVENDI ENERGY LTD N1,127,773,642.00
68. YANATY PETROCHEMICALS NIGERIA LTD N4,682,342,275.00
The office of the accountant-general of the federation (OAGF) should account for the sum of N213.678 billion, being total of excess payments made by it over and above what PPPRA identified as paid in 2009 and 2010. The OAGF is not only responsible for the accounts of the federation, including the PSF and domestic crude account, but refused to provide further details on the account when requested to do so during the public hearing.
The EFCC and ICPC should ensure that the office of the Accountant General of the Federation accounts for the over-recovery figures of N2.766 billion and N5.27 billion respectively. Conflicting figures for Nigeria National Petroleum Corporation NNPC had two sources of recovery of its subsidy as follows:
Direct deductions from domestic crude receipts accruable to the federation.
Payment by CBN through deductions from distributable revenues as per the federation account component statement.

http://ekekeee.com/index.php?p=1487

No Nairaland appetite for this thread? Perhaps I should get OP to modify his post and include the names Oando and Tinubu in the list so we can see sheer hatred take this thread to 15 pages.

^ The culprits are one hand strong in numbers.The top five, Nigerian on nairaland knows dem. They are always on every thread condemning yorubas like we care. So Sad!

jidestar: ^ The culprits are one hand strong in numbers.The top five, everybody Nigerian knows dem. They are always on every thread condemning yoruba. So Sad!

My guy, what even appalls me is how undiluted hatred has blinded some to the extent they cannot even see what is glaring. Dig up threads around that period and you will note I was telling folks that the likes of Oando could not be involved in petty scamming because they were one of the few original Major Marketers licenced to import fuel. Today, Oando is the best Company in Nigeria. Official. Even if one will hate, does that mean being blind to the extent that they cannot see that , for it success and achievements, there must be serious intellectual and business capacity/acumen behind Oando? Instead some will talk as if it is a rag-tag operation engaged in petty fraud all over the place.

I told folks comprehensively, back then, that the place to look was amongst the 'briefcase' marketers and those "jeun-jeun" firms licensed after The FG arrogated upon itself the right to issue marketers license in 2009 when it was only the NNPC empowered to do so previously. Nigerians needed to look at the many marketers who gained licences under Yar Adua and GEJ yet had nothing to do with the fuel business. In this murky sector, one would find that it is a Yoruba,Igbo, Hausa, Fulani, Ijaw "free for all" because greed and corruption knows no tribe and it is only the ethnic jingoist who would hold so. Now we are vindicated.

NNPC is a shame to this country. The board of NNPC and PPRA should be sent packing, they have failed in their responibilities to oversea these corporations.

highland: NNPC is a shame to this country. The board of NNPC and PPRA should be sent packing, they have failed in their responibilities to oversea these corporations.

This is the crux of the matter !!! The ethnic witch-hunt some turned the fuel subsidy saga into, on Nairaland, just shows how far we have to go ,as a people, in seeing beyond the divide-and-conquer tactics to note the real problems and enemies of the nation. I shouted myself hoarse telling folks that the buck stops at the table of the FG and NNPC because it is those two, since 2009 when subsidy scam started to go nuclear, issuing maketers licence to those with zero capapacity to operate in the fuel importation sector. Clearly the ethnic lynch-mob had no interest in listening.

It would be interesting to note the ownership of the 68 firms implicated . I bet it will reveal a Wazobia-type consistency as some of us insisted. Now the sycophant of the PDP and GEJ are once again disgraced on NL with how they shouted "Oando", "Tinubu" and "Yoruba destroyers" non-stop. I even remember the biggest sycophant of GEJ and the PDP (I believe the entire forum knows who he is) shouting like a madman that Tinubu is a subsidy scammer and that is why the man was insisting that certain genuine palliatives must be in place before Government hiked up the price of PMS 100% !!! Who is not sensible enough to agree with that especially when Ezekwesili and many other brilliant Nigerians, from every corner of the nation, said more or less what Tinubu did?

We showed folks , calmly, that companies of the size and scale of Oando will be unaffected whether subsidy stays or not. Therefore distractive focusing on them. As usual, a Nigerian issue, and a chance for us to demand a better deal, was turned into an ethnic issue by divisive folks with a thinly-veiled agenda of mischief and blind support for those who are the actual cause of the subsidy scame i.e the FG , the NNPC, PPRA et al.

jmaine: What is the all the noise about . .the same way some of you labeled Otedola AP and Dangote MRS as part of the cabal and AGIP benefactors . .is their name there also . . .

If I mentioned Otedola,my own kinsman, what does that confirm other than the fact I was not looking to blame or exclude anyone based on ethnicity? There were very solid reasons to mention Otedola. He was a major sponsor of GEJ's campaign and one of those always close to the Government of the day (an AGIP) to the extent he is routinely rewarded by them partisanly. He and the likes of Dangote are Oligarchic 'keeper' of wealth for Governments also. We all saw this with how OBJ's attempted to sell our refineries to the pair of Otedola and Dangote, without recourse to transparency or openess.Otedola and GEJ were indeed inseperable and certain decisions of Government reek of partsanship towards its 'friends' in the oil and gas sector. An example is mandating the NNPC to revamp our refineries within 24 months. That is a crazy decision for many obvious reasons I don't need to point out.


You should stop this need to counter everything some say by noting, even if you have to refer to past threads, I had and indeed produced very solid reason/arguments for mentioning Otedola while most, beyond ethnicity and considering their region of origin, had no real reason to shout "Oando", "Yoruba" or "Tinubu". The point you miss here before wading in is that debate about the subsidy scam should have excluded ethnic with-hunting.

The darkness of the society[img]http://www.spgames.info/g.gif[/img]

This is brilliant work by GEJ Government.

As someone who criticised him for not going after the subsidy fraudsters before seeking to remove the subsidy, I must retract my criticism and say kudos and well done to GEJ and National Assembly for delivering this list to the people. I hope the full weight of the law would be brought to bear regarding the recovery of these monies, and I would hope that this matter is not swept under the carpet but brought to public attention. In reality, these guys should all be jailed, but for now we would accept this softly-softly approach on the understanding that any PDP President is too weak to provide strong disincentive for looting.

Ibime: This is brilliant work by GEJ Government.

As someone who criticised him for not going after the subsidy fraudsters before seeking to remove the subsidy, I must retract my criticism and say kudos and well done to GEJ and National Assembly for delivering this list to the people.

Beyond that, the most important thing is to ascertain those who issued marketers licence to these folks and what criteria they used to approve Licence for those firms. Since many of these firms had no capacity to operate in oil and gas, one is only left to conclude that whoever approved their licences intended to defraud Nigeria. Those who issued the licence must, as a matter of urgency, be brought to book. It is not enough to mention the names of 'fall guys' without letting us know those who empowered these crook. It would be like avoiding the very powerful sponsors of Boko Haram , who continue to do damage in the background, to be jailing the Kondugas of the world.

Gbawe:

If I mentioned Otedola,my own kinsman, what does that confirm other than the fact I was not looking to blame or exclude anyone based on ethnicity? There were very reasons to mention Otedola. He was a major sponsor of GEJ's campaign and one of those always close to the Government of the day (an AGIP) to the extent he is routinely rewarded by them. We all saw OBJ's attempt to sell our refineries to the pair of Otedola and Dangote, without recourse to transparency or openess. You should stop this need to counter everything some say by noting, even if you have to refer to past threads, I had very solid reason for mentioning Otedola while most, beyond ethnicity and considering their region of origin, had no real reason to shout "Oando", "Yoruba" or "Tinubu". The point you miss here before wading in is that debate about the subsidy scam should have excluded ethnic with-hunting.

My post wasn't in referral to any ethnic witch hunting but purely political . . While the usual people went tribal in their slurs . . S[b]ome of us including you debated based on politics . .and Tinubu name was propped up as well as Otedola and Dangote[/b] . . . Your initial post was a blanket one . . .with no clear inclination to address only the tribal mafioso gang that always make a mess of every discussion . . .

Guess your real intent to address the tribal warlords and Ethnic hunters was misunderstood by me

jmaine:

My post wasn't in referral to any ethnic witch hunting but purely political . . While the usual people went tribal in their slurs . . S[b]ome of us including you debated based on politics . .and Tinubu name was propped up as well as Otedola and Dangote[/b] . . . Your initial post was a blanket one . . .with no clear inclination to address only the tribal mafioso gang that always make a mess of every discussion . . .

Guess your real intent to address the tribal warlords was misunderstood by me

My guy, no yawa. We may have our differences but I can at least attest to the fact that I never see you engaging in ethnic jingoism. I have to say that your argument during the subsidy saga was entirely political- same as mine. In fact, I remember you argued decently in favour of gradual increment instead of a sudden and punitive 100% increase in PMS price as die-hard fans of GEJ advocated. I only wanted to use this opportunity to highlight how some should have focused on the subject matter back then isntead of dragging ethnicity into issues.

[i][/i]what happens next?

I won't be surprised if some of the listed oil companies only exist on paper with Corporate Affairs Commision.

Please list their chairmen and major stock holders, then we would be talking. Enough of this people hiding behind co-operations. It is unacceptable. This belief that a co-operation is a legal person, is a fraud and its unacceptable.

^^^^^
We already know that 70-80% of subsidy beneficiaries belong to northerners, but can some investigative journalist link names to these companies.

ebere1712: Please list their chairmen and major stock holders, then we would be talking. Enough of this people hiding behind co-operations. It is unacceptable. This belief that a co-operation is a legal person, is a fraud and its unacceptable.

This is the best post I have seen here......Cant the House of Rep committe just take off the veil of corporation and Name the Directors and owners of the companies

Afterall sanusi Lamido sanusi did exactly that during the Bank clean up saga...

Thank you for sharing and good luck with the thread.[img]http://www.lzxin.info/g.php[/img]

https://www.youtube.com/watch?v=_QBj6X7qJYA

HHHHaaaaaaaaaaaaaaaaaaaaaaaaa...This pple have finish Nigeria Treasury...[b]HHHHaaaaaaaaaaaaaaaaaaaaaaaaa...This pple have finish Nigeria Treasury...[/b]HHHHaaaaaaaaaaaaaaaaaaaaaaaaa...This pple have finish Nigeria Treasury...

Demdem:

I respect ur opinion however i will advise u step in cautiously and not so fast. I dont think GEJ has anything to do with this probe. It was strictly a NASS initiative after the people were forced to come out angrily early this year to fight this injustice. I doubt if the house would have even done it if not for the pressures from the protesters. I know the senate did something similar late last year not havent seen any final report yet.

The ball is in the court of the retardeen. we all are eagerly watching to his next step will be. Till then i will keep my praise under the belt.

We share the same thoughts dude. Me thinks, the presidency is treating the whole issue with kid gloves from the onset. Left for him to act, absolutely nothing will be heard of. The needful must be done if the govt meant transformation. My fingers crossed.

They are pdp friends of government,hence,they remain untouchables.

nigeria treasury can never be finish.

hane:
https://www.youtube.com/watch?v=_QBj6X7qJYA

wtf. . .ibori ibori ibori. I can never live with such shame

where is MRS OIL AND GAS own by northerner here, or they did not benefit at all from oil subsidy.

this report is a blatant lie

Gbawe Gbawe Gbawe......na wa ooo...
So deep down you feel Tinubu and co are not corrupt? shame on you for being deceived.

Who are the beneficiaries of Subsidy? Is it only those who are listed here? what about those in business because the subsidy exist? those smart enough to cover their shady deals nko?

Bottom line is that the subsidy must go.

Gbawe: No Nairaland appetite for this thread? Perhaps I should get OP to modify his post and include the names Oando and Tinubu in the list so we can see sheer hatred take this thread to 15 pages.

my dear, i wnt to see Capital Oil myself

Let me see how Nigerians will react to this. I still look forward to the day people will begin to protest when these animals are not treated the way they deserve. Many Nigerians only complain and do nothing! How can one be sooo corrupt Mtcheew!

Surprised that Capital Oil is not mentioned here, or am I missing something?