Alison-Madueke Must Go Campaign

Alison-Madueke
Alison-Madueke

An anti corruption group demands the sacking of Diezani Alison-Madueke, minister of petroleum resources, for the alleged mismanagement of N1.035 trillion in the Nigeria National Petroleum Corporation

|  By Anayo Ezugwu  |  Mar. 11, 2013 @ 01:00 GMT

A CAMPAIGN to remove Diezani Alison-Madueke as minister of Petroleum resources is on the card. Anti Corruption Network, a group led by Dino Melaye, former member of the House of Representatives, leads the campaign that the minister must be sacked immediately for mismanaging funds running into about N1.305 trillion. The group also gave the federal government a 14-day ultimatum to remove the minister or face serious consequences.

The group claims that the report of the Nigeria Extractive Industries Transparency Initiative, NEITI, from 2009 to 2011 on the oil and gas sector audit, indicted the minister and the Nigeria National Petroleum Corporation, NNPC, for mismanagement of funds. The group also threatened that failure to sack the minister would lead to an unprecedented mass action from the group. Although the report did not mention the minister’s name, the Anti Corruption Network noted that the financial mismanagement discovered in the NNPC was done under her supervision.

According to the report released on the NEITI website, federal government lost N2.153 trillion to unwholesome activities of the NNPC. The report also revealed that the federal government earned a total of N22.24 trillion from the oil and gas sector between 2009 and 2011.

The audit, which commenced on March 1, 2012, also revealed that the NNPC owed N1.305 trillion to the federation account as at December 31, 2011. The report further accused the NNPC of continuing to short-change the federation through inaccurate conversion rate to the tune of N98.3 billion.

A breakdown of the revenue lost to the activities of the NNPC as contained in the report showed that financial flows from the Nigeria Liquefied Natural Gas, NLNG, including dividends and repayment of loans, of which $4.84 billion was received by the NNPC, but did not reflect in either the Central Bank of Nigeria, CBN account or to the federation account.

The report disclosed that subsidy payments claimed by NNPC increased by 110 per cent within the period of the review. “It rose from N198 billion in 2009 to N416 billion in 2012. In 2011 alone, it rose to N786 billion. The increase between 2009 and 2011 was 186 per cent,” it stated.

The NEITI report said that the revenue accrued to the federation account from the oil and gas sector within the period was mostly made up of proceeds from crude oil sales, royalty, signature bonus, concession rentals, gas flaring penalties as well as petroleum profit and companies income taxes.

“Unresolved differences between what government received and what companies claimed that they paid within the period was $68.4 million while the sum of $311.85 million, representing flows to the federation account, were claimed to have been paid by covered entities to the relevant accounts, but such payments were not confirmed to the CBN bank statements,” the report finding said. .

The report also covered all major oil and gas companies, including Shell, Total, Agip, Mobil, Chevron, Conoil, Addax, among others as well as the federal government agencies which either receive, regulate or manage revenue accruing from oil and gas such as CBN, FIRS, DPR and OAGF.

Reacting to the report by NEITI, the NNPC said that the drafters of the report were misinforming the general public over N1.305trillion subsidy claims made by the corporation as unremitted funds to the federation account. Tumini Green, spokesperson of the corporation, said all subsidy claims were duly verified, approved and authorised for payment by relevant agencies.

“The subsidy claims due to the NNPC are not cash payments as amounts duly approved are backed out from the Gross Domestic Oil revenue due to the federation account in any given month. On the total amount of N1.305 trillion deducted, the report deliberately ignored and or omitted the factors responsible for the increasing amounts paid especially the price of crude oil which accounts for 82 percent of the price build-up for petroleum products. The debt portion of the N928 billion had been paid in the first quarter of 2012 on the relevant due dates. This can be verified from the relevant authorities. One would have expected NEITI to take cognisance of this process in the report to avoid misrepresenting NNPC’s debt profile,” Green said.

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