Fulanimafia's Posts
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Saraki has successfully manoeuvred himself into the cross-hairs of Tinubu and PMB. It is increasingly getting clearer that Saraki will pay a costly price for his treachery. |
Oil Swap Fraud: Aiteo, Alleged Front For GEJ & Diezani, In Buhari’s Cross-hairs As Nigeria's new President-elect Muhammadu Buhari and his All Progressives Congress (APC) party ready for power, state Nigerian National Petroleum Corp. (NNPC) officials, oil traders and upstream players alike are bracing for a raft of investigations into deals approved by outgoing President Goodluck Jonathan's regime. As corruption is endemic across much of Nigeria's oil sector, such probes have featured with every incoming government for decades with new presidents and lawmakers using the findings to threaten and control opponents, shake down oil companies for more cash, terminate contracts and award new ones to allies. Buhari could dig deeper and hold more alleged perpetrators to account than his predecessors, partly because he has staked his credentials on fighting corruption, and because a major power shift is under way. Corruption became a huge issue under Jonathan, with sizeable volumes of crude allegedly squandered through offshore processing agreements (OPAs), under which traders lift crude and deliver oil products and cash back to NNPC, as well as through strategic alliance agreements (SAAs) that paid companies in crude for helping NNPC to operate upstream assets divested by Royal Dutch Shell. The government eventually commissioned PricewaterhouseCoopers (PwC) to audit NNPC's finances in 2014 but declined to release the full report (EC Mar.28'14). Buhari is treading carefully, starting on his own doorstep by disputing his own supporters' demands for contracts to satisfy their sponsors, sources tell Energy Compass. To manage such intense pressures, some expect Buhari to keep the oil portfolio himself and appoint a minister of state for petroleum as did former President Olusegun Obasanjo (200007) a move that streamlined rather than eradicated such activity. Significantly, though, APC policy director Kayode Fayemi yesterday promised to publish PwC's audit in full. The president-elect will need a light touch in Jonathan's home, the Niger Delta, where his People's Democratic Party retains control of all states after flawed governor elections on Apr. 11 (EC Apr.17'15). Powerful former militants are conciliatory but could stir up trouble if Buhari cancels their lucrative pipeline and maritime security contracts secured through the 201015 amnesty agreement and ties to Jonathan. Former gang leader Ateke Tom took out a full-page advertisement congratulating Buhari. Less predictable are militants excluded from the amnesty, who are now flexing muscles to secure contracts. A compromise to tackle corruption without ruffling Niger Delta feathers could be in the making, under which most of the corruption gets blamed on unpopular outgoing Oil Minister Diezani AlisonMadueke, allowing Jonathan to retain the statesmanlike image he acquired on ceding power to Buhari (EC Apr.3'15). A narrative is emerging that the minister helped herself to funds raised for his election campaigns and recycled it with help from business allies. "Goodluck was kept in the dark ... without real influence over oil sector decisions," one trader said. The minister will struggle to counter this version of history, as numerous fallouts have left her with few allies, sources say. Companies deemed close to the minister that could face further scrutiny include Nigerian trader Aiteo, which has been criticized for unfairly exploiting its OPAs, and Atlantic Energy, which has allegedly lifted crude beyond its entitlements from the upstream SAAs. Continue: http://saharareporters.com/2015/04/28/oil-swap-fraud-aiteo-alleged-front-gej-diezani-buhari%E2%80%99s-cross-hairs https://saharareporters.com/sites/default/files/styles/normal_medium/public/Aiteo_lifting.jpg?itok=gTwkS02N |
Dieazani wrote a letter before leaving office is your defence? I am giving you concrete evidence that Diezani increased oil swap deals and OPA's by over 80% at the same time refinery repairs were completed and you're telling me about a feather-weight letter she wrote to the EFCC? ** Frustrated with the impasse, Yakubu, using his approval limit as the NNPC boss, but without the knowledge of Alison-Madueke, started making $2.5 million monthly to the management of the three refineries and encouraged them to revamp the plants with local and external engineers. Under this arrangement, the refineries were fixed about a year ago and ready to churn out petroleum products, which would have slashed the volume of imported fuel by more than 50 per cent and significantly reduced pressure on the country’s foreign reserves. In addition, the construction of a power plant for the Port Harcourt refinery was concluded at the beginning of the year to enhance its ability to operate efficiently. However, instead of ensuring that crude oil was made available to the refineries for domestic consumption, Alison-Madueke, in conjunction with the Pipelines and Products Marketing Company (PPMC), increased the crude oil swaps and OPAs from some 270,000 bpd to 445,000 bpd, thus starving the refineries of crude oil. The swaps and OPAs were awarded to Aiteo, Ontario Oil & Gas Limited, Sahara Energy, Taleveras Petroleum Trading BV and Swiss firm, Trafigura, among other oil traders. When contacted on the issue, an aide of the former minister claimed that the reason crude oil was not made available to the plants was because of frequent crude oil theft and vandalism of the pipelines, resulting in losses of up to 30 per cent. http://www.thisdaylive.com/articles/how-crude-oil-swaps-opas-stalled-nnpc-refinery-operations/212663/ The fact remains that Jonathan and his cronies sabotaged the operations of the refineries after they were repaired so they could continue their wicked looting. barcanista: |
The same civilian JTF that has done more than all of the US's efforts against BH combined? |
barcanista:You can only fool your minions with that trash. Can you deny that Diezani last year increased oil swaps and OPA's from 270,000 bpd to 445,000 bpd at the same time repairs of the refineries were completed thereby starving the refineries? Jonathan and co. sabotaged our refineries. Simple. |
Splashme:Save your preaching for the choir. Why did GEJ and his cronies deliberately and dramatically increase the oil swap deals (which are inherently questionable) at the same time the refineries were reported to have resumed operating last year? Oil swap arrangements are different from subsidy payments. Lets not even bring up the fraudulent Offshore Processing Agreements yet. |
barcanista:You can only deceive the gullible, you are completely empty about your assertions. The issue is not about what was done to the refineries under GEJ, nobody is disputing those efforts. The issue is the deliberate sabotage of the refineries operations in order to make a leeway for corruption and looting through oil swaps and other questionable arrangements by GEJ, Diezani and the PDP which frustrated the effective revival of the refineries operations. The defeat and ejection of the aforementioned characters, catalysed by the emergence of an incorruptible, integrity-laden, no-nonsense President thoroughly experienced in the workings and administration of the refineries and the petroleum industry in general, made possible the accelerated revival of the refineries. |
Barcanista can you deny that as soon as the refineries were ready for production last year, Alison-Madueke, in conjunction with the Pipelines and Products Marketing Company (PPMC), increased the crude oil swaps and OPAs from some 270,000 bpd to 445,000 bpd, thus starving the refineries of crude oil...instead of ensuring that crude oil was made available to the refineries for domestic consumption? |
barcanista:Nobody is disputing that fact, the question is how come the refineries which were scheduled to be revived in 2016 as at March 2015 are suddenly ready for production in the 3rd quarter of 2015? http://www.punchng.com/news/refineries-will-produce-400000bpd-in-2016-nnpc/ Let us remember that Diezani consistently starved the refineries of crude oil, in favour of oil swaps. http://www.thisdaylive.com/articles/how-crude-oil-swaps-opas-stalled-nnpc-refinery-operations/212663/ This is one of your weakest rebuttals ![]() |
IsraeliAIRFORCE:Jonathan is gone , and never coming back. |
IsraeliAIRFORCE:You are just making pointless posts. I gave you two July 2015 reports of improved gas supply to Egbin in recent months, and you are giving me links to reports of poor gas supplies written in May 2015, under the incompetent and corrupt administration of GJ. What is your point?? |
IsraeliAIRFORCE:You will have to act sensibly by providing links so dates and other claims can be confirmed, before you accuse anyone of lying. Acting impulsively with sourceless articles will not save you. |
The increase in generation as a result of recent improvements in gas supplies at Egbin Power plant is responsible for the huge improvement witnessed in Lagos State and its environs. The power plant a few months ago, was generating below 500 megawatts (Mw) but currently it generates over 1050Mw. http://thenationonlineng.net/manufacturers-others-laud-buhari-on-improved-power-supply/ http://www.punchng.com/business/business-economy/egbin-power-plant-now-generates-1000mw/ The reason for the improved supply in recent months is quite obvious for those who truly seek answers. |
alrahmanonline:We will be waiting. |
The statement by PMB in that video only strengthens the OP's points. No one claims PMB made any direct input to the revival of the refineries, and that was the crux of his statement. The point is that the disruption of the economic sabotage and looting, in the way of Jonathan and co's preference for fuel importation instead of local refining and starving the refineries to make it tenable, is the primary reason for their accelerated revival. The integrity of PMB is becoming a well all Nigerians can drink from. |
Rose2014:Aha. When the message is too hot, attack the messenger ![]() Of course you cannot answer that question because it clearly exposes the shallowness of your thinking. |
Rose2014:So you're saying you want to secede, but want to keep doing business in the zoo? Are you human? |
Rose2014:Good, so I don't see why you didn't agree with kinkyangela and p/shot that Biafrans should recall their senators and their people doing business in 'the zoo'. |
Rose2014:Are you saying you want Biafra, but you would be happy to apply for a visa to the zoo? |
The land it's built on must be worth over $5 million then. |
The point here is not that the North does not need to reflect and work on its educational challenges. The truth is that every region in Nigeria has suffered from decay in our educational system and infrastructure, occasioned by decades of misrule by greedy and unintelligent leaders, both civilian and military. A reflection on the products of our institutions is a sufficient pointer to this fact. However, castigating a region which had arabic and islamic influence before the arrival of its colonialists, for having arabic education as the basis of its own original educational system, is unreasonable, shallow, and completely illogical. The facts are sacred, one of which is that no matter how much information to the contrary is offered, bigots will dedicatedly continue to spread the propaganda of an illiterate North in their resolve to discredit the region either as revenge for its political dominance, or ethno-religious differences. All of which matter little to the discerning. Cheers. |
freecocoa:This thread has established that northerners have been literate since before colonialism, and they have applied their knowledge to cutting edge inventions, and developed their towns into mega-cities. |
freecocoa:Now the she-male is attacking the messenger since the message is bullet-proof. Your answer, under the principle of justice. News flash, I am not even a Muslim, and Shariah law as retrogressive as it may be, is a field of law in its own right, acknowledged and adopted by aspects of the British legal system, just as it is enshrined in our constitution. http://www.telegraph.co.uk/news/religion/10716844/Islamic-law-is-adopted-by-British-legal-chiefs.html You are severely ignorant, bigoted and obviously a half-baked product of any institution you |
ECOTERRORS:These were the same people accusing the progressives of turning on the protection seeker because he expressed a contrasting opinion. Now they are castigating Eurobomber, a fellow Ndigbo, TANoid and honorary wailer, because he was treading the path of reason. Hypocrites. |
MrLouisVanGaal:Are you suggesting southerners have been holding their leaders by the neck for years, which is why poverty, environmental degradation and chronic underdevelopment ravages the ND? Or S/Easterners have been holding their leaders responsible which is why Aba looks like a refuse dump? Can you deny that students in Bayelsa have to be tricked, coerced and beaten before they come to school? (Personal experience at Kolokuma/Opokuma LG) Remove the log in your eye before pointing out the speck in others. |
WailingWailer:Okay, and you are their masters abi? ![]() This thread is really exposing the poorly educated in Nigeria. Please look up the concept of sovereignty. |
Tinyemeka:KANO 1940 www.nairaland.com/attachments/2663343_page37pic2_jpege13a878e905390d21935b083170e3a6e KANO 2015 www.nairaland.com/attachments/2663345_twittera87c5df_jpeg8b7ff34d087d9060cbf2185ccbbb5a6d www.nairaland.com/attachments/2663346_twitter9a0488d_jpege9b96f7c62f6b0e9d722ba48d44a4d49 Rise above the propaganda. |
freecocoa:There's no 'general sense' of the word literacy. Its definition is definite, you're only grasping at straws. Would you then call a Russian scientist researching in America who does not understand English an illiterate? You're severely unexposed, which is why you think only the Koran is being studied in Arabic. These children do sums, and study arabic literature in various fields including Law (Sharia'h) so before you mention me again, expose yourself to some enlightenment. Cheers. |
freecocoa:Literacy is not defined by field, but is a free-standing concept and ageless principle. If you can read, write, and possess knowledge about ANY specified field (which was clearly arabic from the photos), you are considered literate according to the Oxford Dictionary. That's the OP's point. Furthermore, I have provided pictorial evidence of WESTERN education being taught and encouraged around the same period. You need to brush up on your comprehension, it is letting you down badly ![]() http://www.oxforddictionaries.com/definition/english/literacy
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WailingWailer:https://peterfisher.smugmug.com/History/David-Whitehead-and-Sons2/i-KzS88WM/0/L/7%20Sept%201955-L.jpg |
anonimi:I feel your pain. |
freecocoa:You seem to need some education yourself.
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, and never coming back.


