Contrary to wide spread notions the federal government assured the publis that it had not abandoned the SURE programme nor had it changed its mind about it. But it would soon make public the revised edition of the SURE document.(view full text) View SURE P Document
With the fact that the money stated in the SURE document cannot be realized as stated, the document was withdrawn for review. The document was designed for a total subsidy removal regime. (view full text) View SURE document
Finance Minister Ngozi Okonjo-Iweala, announced at a news conference in Abuja, a reduction of the 2012 budget to N4.648 trillion from the initial estimates put at N4.749 trillion. The minister said after extensive consultations, the amount required for petrol subsidy was estimated at N656.3 billion, and there was a carryover of N231.8 billion for 2011.(view […]
The Chairman of the House of Representatives ad hoc committee on fuel subsidy probe, Hon Farouk Lawan, hadn’t prepared his mind to encounter the massive fraud at the Nigerian National Petroleum Corporation (NNPC). Though the committee had completed its public hearing and was working on its report, Lawan was in shock. He explained why in this […]
Poverty has risen in Nigeria, with almost 100 million people living on less than a $1 (£0.63) a day, despite economic growth, statistics have shown. The National Bureau of Statistics said 60.9% of Nigerians in 2010 were living in “absolute poverty” – this figure had risen from 54.7% in 2004. The bureau predicted this rising trend […]
Members of the House of Representatives ad-hoc committee investigation management of the subsidy regime were under intense pressure from many quarters, committee chairman Rep Faruok Lawan (PDP, Kano) had said. As he spoke at the hearings, Lawan said the committee would not compromise in spite of the pressure. (view full text)
The NNPC retails association told the House of Representatives Adhoc Committee probing the activities of the subsidy disbursement in the last two years, their members has not received kerosene and diesel from the NNPC Retail for distribution.(view full text)
The appearance of the National President of the Independent Petroleum Marketers’ Association of Nigeria (IPMAN), Alhaji Aminu Abdulkadir before the Rep Farouk Lawan led House of Representatives’ ad-hoc committee probing the subsidy management on January 26, this year was one tale many would not forget so easily. Apart from demonstrating his knowledge about the nation’s […]
Former chairman of the Economic and Financial Crimes Commission Mallam Nuhu Ribadu was nominated to chair the Petroleum Revenue Special Task Force to determine and verify all petroleum upstream and downstream revenues due and payable to the Federal Government of Nigeria.(View full text)
Who are the promoters of the companies that benefitted from this controversial fund? Why is it difficult for some to defend what they ‘earned’? This report gives an insight. Bovas and Company Limited, registered with the Corporate Affairs Commission (CAC) in 1980, with a share capital of N25 million did not state specifically that it […]