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Fuel Subsidy Fraud: Reps Summon 42 Marketing Companies

By on October 18, 2012

Lawmakers at the National Assembly

The House of Representatives has called upon subsidy-entwined firms to give account on how they managed the subsidy bridging funds.

 

A total number of 42 oil-marketing firms have been summoned by the house through its Committee on Petroleum Resources (Downstream) and investigations have already commenced.

 

The house invited the following, Honeywell Energy, MRS Oil Nig. Ltd, Rahamaniyya, Sahara Energy Resources Ltd, A. A. Rano Nig. Limited, ACORN, LUBCON Ltd, Knight Bridge, Channel Oil & Petroleum Ltd, Dee Jones Petroleum & Gas Ltd, and IMAD Oil & Gas Ltd.

 

They also invited, AITEO Energy Resources Ltd, MOB Integrated Ltd, Northwest Petroleum & Gas Company, Masters Energy Ltd, CEOTI Ltd, Pinnacle Oil & Gas Ltd, Venro Energy Ltd, and Vivendi Energy Nig. Ltd.

 

Momats Oil & Gas Ltd, Caades Oil & Gas, Carnival Energy Oil & Gas, Oando, Conoil, Zalon Petroleum Ltd, Zalex Energy Resources Ltd, OBAT Oil Petroleum & Gas Ltd, Pinnacle Contractors Ltd, Serl Collections Port & Cargo, Lingo Oil & Gas and Britania U. Nig, were also invited.

 

Others are, Fargo Petroleum Ltd, Somerset-Universal, Ultramat, Stallionaire, Phoenix Steel Co. c/o Phoenix Oil & Gas, Suncore Energy, African Petroleum/Forte Oil & Gas Ltd, Zamson Global Resources Ltd, Canan Energy, and Bestaf.

 

According to the chair of the committee, Dakuku Peterside, the probe is “to ascertain the management of bridging fund under the subsidy regime. This is with a view to ensuring that Nigerians get value for monies spent for bridging and equalisation in the Petroleum (Downstream) sector.”

 

They are scheduled to come before the committee on Thursday, November 8 at 10.am at Committee Room 028, New Building, House of Representatives, National Assembly Complex Abuja.