THE Nigerian National Petroleum Corporation (NNPC) has disclaimed the insinuation that it has in its custody $3.5billion Subsidy fund.
NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a release Wednesday in Abuja, explained that at the hit of the shortage of products supply at the close of last year, the National Assembly asked the NNPC to do everything possible to stem the hiccups.
Ughamadu revealed that accordingly, NNPC initiated the move to raise a revolving fund of $1.05billion, since the corporation was, and still is, the sole importer and supplier of white products in the country.
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The NNPC spokesman said ever since, the fund had been domiciled in the Central Bank of Nigeria, saying at no time was it in the custody of the NNPC.
Ughamadu said the fund, dubbed the National Fuel Support Fund, had been jointly managed by the NNPC, the Central Bank of Nigeria (CBN), the Federal Ministry of Finance, the Petroleum Products Pricing Regulatory Agency (PPPRA), Office of the Accountant General of the Federation (OGF), the Department of Petroleum Resources (DPR) and the Petroleum Equalization Fund (PEF).
Mr. Ughamadu clarified in the release that NNPC did not independently spend a dime of the fund which he said was to ensure stability in the petroleum products supply in the country.
The NNPC spokesperson said, for the avoidance of doubt, the corporation was fully aware that it is only the National Assembly that has the statutory responsibility to appropriate on petroleum subsidy matters.
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Nigeria has a national debt of N22.38 trillion in just 3years of Buhari-APC (with only shoemaker boxes, mangoes, wheelbarrows, and bus stops to show for it); compared to N6trillion in 16years of PDP rule. How much will BUHARI-APC borrow in the next 4 year? Nigeria is doomed. Nigeria borrows N2.75trillion in one year to do what? Where are those recovered loots? Where is the N1.073bn naira ($322million US dollar) Abacha loot returned by Swiss bank?
Corrupt Buhari cannot tame his corrupt animals. Magu spend 24billion naira to build just an office (EFCC office), then demands praise from NASS. This is what is called unbridled corruption. This is shameful. Perhaps Buhari is now too old and weak for the office of the president. Even though he is present, he is still not in charge. His useful time/life has expired. Buhari should not continue to hold onto power.
Who is Buhari with his corrupt APC deceiving? Why is Dasuki still in prison if only sack is enough for Babachir and Oke? Next thing Buhari does is to replace Babachir with babachir’s cousin – Mr Boss Mustapha. This is a calculated replacement. Mr. Boss Mustapha is a lawyer and he will frustrate and block any attempts to investigate his cousin – Babachir. He will also frustrate any attempt to recover any stolen loots from his cousin – Babachir. Why is Buhari still leading Nigeria in this vicious circle of corruption? Why does Buhari like recycling thieves in his administration? Why does Buhari have such strong affinity for corrupt thieves? Nigerians are keeping records of Buhari’s achievements:
THE BIG QUESTION IS: Why did buhari re-employ maina, considering how corrupt Maina is? Wow wow wow! How could someone guilty of stealing and facilitating the stealing of total of N17billion sneak back into service? Why did Buhari re-employ Maina? Was it to complete PDP’s task in APC administration, (which is very ridiculous) or simply to steal for APC? Lol! ? Obviously, Buhari and his corrupt APC had hidden agenda for Maina before they were exposed. Buhari employs only professionals and this was a professional thief who knew his job. The fact is that I do not see any reason Buhari should re-employ such a thief with such track record. The only explanation to Maina’s re-engagement by Buhari’s administration is that Buhari’s APC needed his expertise to stealing enough money for the 2019 election campaign. There is a lot of corruption going on in Buhari’s APC administration. Buhari has immortalized his name in corruption. Buhari and APC have no integrity. Lol. Finally Buhari and APC cannot deny this one. They were caught red handed. Maina’s case is a big scandal. This is beyond embarrassment. This is a shame. APC has always been doing exactly what they have been accusing PDP for – corruption. It finally shows Nigerians that APC IS MORE CORRUPT THAN PDP. After all, the same people who were in PDP are now in APC. Meanwhile, where is N17billion, where did they keep it?
If Maina’s scandal is a grand conspiracy what about others in the list below?This is Buhari’s style of governance. It doesn’t surprise me any more. I also didn’t expect much drama from maina’s case.
Just look at this record:
Which of these corruption cases has Buhari’s APC probed so far? At least we have seen these ones as they unfold. Buhari was meant to be a clean man as he portrayed himself but look what we have today……the more Buhari’s APC is exposed, the more they make efforts to destroy the already destroyed image of PDP. The problem is that, there are few PDP members in government to balance up this corruption fight, and this is why it is lopsided, but the few we have seen already are horrible.
1. N700 APC billion bribery scandal
2. N640 billion nnpc loan/contract scandal
3. $25 billion (N9trillion) nnpc contract scandal
4. N10.9 billion (2015-2017) Aso rock clinic scandal
5. 919 million nhis training scheme scam scandal
6. N1.6 billion for reps. Cars of national interest.
7. N120 billion police allegations on corruption.
8. N500 million bribe from mtn to Abba Kyari
9. N182 million fraud/bribe by Dr. Saadu Alabama
10. $43 million of IkoyiGate
11. N273 million grass cutter contract.
12. Where is N22 billion that FG gives Fashola every month to buy gas to produce electricity? Reps raise alarm that Nigeria is still in darkness. Fashola, where did you keep the monthly N22 billion gas money?
13. Where is the N17 billion that Maina stole and facilitated distribution.
14. Why should the cost of running National assembly be N500billion when Nigerian are suffering? Salaries of senators being N3 billion per annum is not included in the N500billion, and N6.1billion for Reps’ cars is also not included in the N500billion. What do they use N500billion for? Yet Buhari want to borrow more money. NO. NEVER!
15. After privatising the defunct nepa, Buhari’s APC, FG still spend N6.5billion to improve electricity. What a corrupt country.
16. Where is the £6 million pension loot in UK bank accounts looted by top government officials in Office of Head of Service and the Police Pension office?
17. Fashola’s Ministry $1.035b fraud and their fraudulent ‘fast power’ project
18. 8.13 trillion naira is missing from federation account…..Not remitted by NNPC and 15 other cooperations. Buhari where is the money?
19. Oshiomole stole $6billion dollars but because he supports Buhari, he too has been declared saint in APC and celebrated as APC chairman.
20. Buhari, where is the N481 billion naira stolen by members of your NASS in 2016 budget? The federal high court lagos demands that money back.
21. FG MOVED N2.5BN, $50M ABACA LOOT IN TWO BULLION VANS TO SUPPORT FAYEMI ON SATURDAY 7TH JULY 2018
22. Nigerian immigration service officers petition Buhari over allegations of massive corruption in service.
23. Why is Buhari quiet about N21 billion Daura loot? Is it because the man bears the same name as Buhari’s village?
24. Mrs Buhari, where is the N2.5billiion that you said your ADC had diverted?
25. Senate probes $3.5billion subsidy fun managed by only 2 individuals in NNPC in Buhari’s administration.
26. Gov. Ganduje of kano state collects $5 million bribe for contact award yet Buhari does nothing.
27. ETC
A pot cannot call a kettle black. These same saints were once PDP thieves. Today they have been declared saints because they support a corrupt administration who are unwilling to probes them as long as they are loyal to them. All corrupt PDP members have decamped to APC. In APC – ALL PEOPLE are CORRUPT. PDP loyalists are determined to deal with impunity.
Buhari has no intergrity. Buhari and APC have no moral authority to accuse anyone of corruption in this country because they are pretty much as corrupt. This fake and lopsided corruption war must stop. Buhari and APC cannot deceive Nigerians anymore. In fact Dasuki has to be released. APC is looting more than Dasuki already and magu must go home.
Buhari’s APC is the virus that is eating away the life of Nigeria. Nigeria must be vaccinated against this virus.
Watch how they even ended the $ 25 billion nnpc contract:
First, kachikwu had a
bureaucracy/protocol fight with Baru over $ 25 billion nnpc contract
Second, Kachikwu does not have a role to play in awarding contract.
Third, the contract was not $ 25 billion and was not awarded.
Fourth, there is no $25billion contract.
Fifth, Fire burns kachikwu’s house.
Sixth, Senate under pressure to drop $25billion nnpc probe
Seventh, Senate panelists deny pressure from presidency.
Eight, what next is going to happen……..?
This film is very interesting to watch in a theatre called corruption.
Who will probe Buhari, minister of protroleum, Nnpc, presidency and APC?
…..and again buhari seeks NASS approval for $2.78 eurobond 5months to presidential election, why? Again Buhari borrows $328million USD from China to boost ICT. N86 million naira has been budgeted for buhari’s hair cut in one year. INEC budgets N6bn to feed only police. Buhari where is the food? After spending billions of naira on feeding programme, you now serve children food in pieces of papers like dogs!
Where is the power? Where are the road? 2.75trillion and there is nothing to show?
Is this fighting corruption?
We will all be dead by the time Buhari is done changing us!
BUHARI IS THE LOOTER!!!!
How much more does Buhari need to achieve? Some Members of NASS stole N481 billion naira from 2016 budget and Buhari is quiet about it. Buhari where is the money, lagos high court is asking. Nigeria’s industrial production has fallen by 41% – AfDB. Buhari approves a whooping 10billion naira for rehabilitation of benue community after supporting their killings but protects fulani herdsmen killers. Why? What is genuine about this? Amechi and Buhari – where is the $46billion external loan for rail, road project? Buhari did not consult NASS first but Buhari approves, withdraws and spends $1billion to buy arms. The same arms for which Buhari jailed Dasuki and Metu. Who will jail Buhari? Buhari, Emefiele and Adeosun collectively carted away $462 million for Jet fighters and helicopter only and without NASS approval and that has been swept under the carpet. Falana wanted NASS to probe Buhari for unconstitutional withdrawal of $496million from excess crude account. This has been swept under the carpet. Reps panel question missing $202million belonging to NIA. Who stole the money? Senate gets N18 billion per anuum as running cost. Fuel subsidy payment rises to 24 billion naira monthly. 1.4trillion naira paid on subsidy without NASS approval. Yet Fuel sold for 200 naira per litre. Buhari’s FG spends 1.54trillion naira to service debts in just 9 months. Yet debt has risen to N21.7 trillion. Where are we heading? $500million Abacha loot gets missing. Why did Buhari give 8 dead people appointment when 7.9million living people lost their jobs in one year? Buhari, minister for petroleum! Where is $1.486billion Agip remittance. 7.9million Nigerians who previously had a job became unemployed in 21 months of Buhari’s administration. 4 million Nigerians who previously had a job became jobless in 2017.
Someone help Nigeria! Ghost companies lift N1.1trillion crude oil. Anyone, please?
APC IS A STINKING KITCHEN!
How many times does Buhari want to purchase vessels in this administration? Looting by Buhari is getting out of hand.
About Half of excess crude ($1billion) has been emptied by Buhari in the name of fighting boko Haram? This happened after paying £3million to the same Boko Haram to release Chibok girls, yet not all were released. Is Boko Haram a cooperation? How do we classify this kind of looting by Buhari?
Wow! Why did Buhari set aside N50billion NNPC account to himself?
Buhari is minister for petroleum and stealing N30billion in just one month – October 2017. What about other months?
Nigeria’s foreign reserve hits $38.7bn. Nigeria’s debt has grown by N8.1 trillion in just 2years of Buhari’s administration. Nigeria’s debt stock hits N20.37 trillion. Moody has downgraded nigeria’s economy from B1 stable to B2. Nigeria is very sick right now.
Why does Buhari want to borrow N1.6trillion to fund 2018 budget? This is crazy.
1. Just about 10% of 2017 budget has been implemented yet Buhari seeks N8.612trillion for 2018 budget.
2. Where is the money for the non-implemented budget of 2017? This is the reason the NASS is worried about Buhari’s N8.612trillion.
3. What about the 90% non-implemented budget of 2017?
4. Why were journalists barred from covering 2018 budget presentation by Buhari?
5. Also, there was no consultation before presentation, between the executive vs MDAs and NASS.
6. Buhari cannot account for N11trillion of 2016, 2017 budget.
7. Something is wrong with Buhari and his corrupt APC. What is Buhari with his corrupt APC hiding? Here we go again! CORRUPTION!
Buhari buried Nigeria in recession. Nigeria owes African development $400 million, Yet Buhari wants to continue to borrow for corrupt APC to loot. Why would National Assembly spend N500 billion as running cost? What are they running/paying for, after earning senate salary of N3billion per annum and reps spending N6.1billion to by cars? Nigerians are hungry and suffering. What is happening to this corrupt administration?
Buhari and his corrupt APC are deliberately punishing Nigerians. EXCESS (CRUDE) OIL REVENUE HITS $36.6MILLION DAILY and Buhari still wants to borrow more money to give his corrupt politicians to loot more. DEEP OFFSHORE PROJECTS IN OIL AND GAS CONTRIBUTES $90BILLION IN REVENUE. Yet Nigeria are very hungry and poor. Lie lie lie lie lie lie Buhari and APC. All they do is lie. They lied to us again. Why is FG still borrowing again and again if we have exited recession? This is the 4th time they are borrowing since they declared Nigeria out of recession. The 1st one was 7.51 trilion naira, 2nd one 100bn naira sukuk offer, the 3rd on $5.5bn euro bond and 4th one $5.5bn loan. This looting is just too much now. Things are rather getting worse despite all these borrowings. WHY? Where is the money EFCC has recovered? APC is LOOTING more than PDP. Buhari and APC, you took away food from people’s table. Enriching themselves, Senators earn 3bn per annum. They have exited recession but This is how nigeria exits from recession; this is how Buhari economy is improving compared to GEJ administration:
A. 1 dollar = 367 naira now (160 naira before) we are still waiting for 1 dollar = 1 naira
B. 1 litre fuel = 145 naira now (98 naira before)
C. 1 bag of rice = 18,000 naira now (8000 naira before)
D. 1 cup of beans = 110 naira now (40 naira before)
E. 1 cup of garri = 50 naira now (10 naira before now)
F. Boko Haram not defeated till now
G. FG’s baby called Fulani herdsmen is still raining havoc.
H. Inflation has increased 600%
I. FG still borrowing 7.51trillion naira, yet claiming that we are out of recession.
J. People committing suicide everywhere because of suffering / hardship
K. Nigeria had one of the world’s highest economic growth rates, averaging 7.4% according to the Nigeria economic report released in July 2014 by the World Bank. Today, Nigeria’s poverty index is 20yrs’ high, predating late Abacha administration.
L. Where is the N10.9bn naira budgetary allocation for Aso Rock clinic. This money could fund the clinic and all public hospitals in Nigeria but Buhari and APC looted it.
M. Buhari, APC, FG and military enforce ethnic cleansing by killing innocent and unarmed igbo people in nigeria while condemning ethnic cleansing in other parts of the world. The law does not apply to him
Buhari’s APC is the virus that is eating away the life of Nigeria. Nigeria must be vaccinated against this dangerous virus called APC.
Buhari, osibanjo and APC, you should be ashamed to make any reference to Nigerian state and economy today. You cannot deceive Nigerians anymore. You are a fantastically corrupt government, David Cameron was right.
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