oil subsidy report

8/2/2019 Oil Subsidy Report

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REPORT OFHOUSE OF REPRESENTATIVES

AD-HOC CONMITTEE ON

FUEL SUBSIDY FUNDMANAGEMENT

To Verify and Determine the Actual Subsidy

Requirements and Monitor the Implementation of

the Subsidy Regime in Nigeria


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This report by the adhoc committee probing the highly scandalous, monumental and globally

embarassing fuel subsidies thievery should be commended. It certainly meets Nigeria's best

practices. It does not, however, meet with international best practices and standards.

To begin with, the fraud scandal called fuel subsidies require far more than an Ad-Hoc

Committee. In other climes where serious business of economic governance is conducted and

corruption is a game of personal and national shame and indignity, a bipartisan Committee of

Congress would be set up. The Committee would definitely include the Nigeria Customs

Service, the EFCC, the Central Bank of Nigeria, the Federal Inland Revenue Service, the State

Security Service and many others. In the United States for example, the Committee would

definitely be the Permanent Investigations Committee of the U.S. Congress including the

Homeland Security, the U.S. Customs, the FBI, Office of the Attorney General, perhaps the U.S.

Fed, etc.

Also, considering the extent of the stench uncovered, the Committee would take a very muchlonger time to investigate the whole fuel subsidies business since the very beginning. Past

officials of NNPC, PPMC, PPPRA, Auditor Generals, etc would testify in public and recorded.

Such a Committee would definitely need a year or more to get to the root of the rot.

In addition, the final report such as released few days ago would provide details such as: how

many companies and individuals were invited to testify, the volume of documents processed, etc.

More importantly, however, and this is very LAUGHABLE. The Maina's report contained no

names of any individual indicted but mentions just the headline grabbing government agencies -

NNPC, PPPRA and a handful of companies. What's the name of the (in)famous Auditor General

who in 2009 transfered almost a trillion naira, some 28 times in just 24 hours? What are the

names of the bank(s) and bankers that aided and abetted the faceless AGF?

But please let's praise this Ad-Hoc Committee. It was Ad-Hoc and it did an Ad-Hoc job.

At least, some guys up there have the courage to SCRATCH the skin surface. As time goes by in

our national history, some guys will one day, maybe one day, DIG with metals and iron and

remove the 'cancer' at its root.


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