The fuel subsidy scam cabal
Oando Oil, CONOIL, African Petroleum and MRS Oil are among the powerful players in the petroleum sector that have shared over N3.655 trillion between 2006 and September 2011 in pursuit of importation of refined petroleum products.
This was revealed today in Abuja by the Nigerian Senate joint Committee on Petroleum (Downstream), Appropriation and Finance.Senator Magnus Ibe, the chairman of the committee, also disclosed that some 100 companies in the downstream sector and in construction, shared over N1.426 trillion between January and August 2011 alone.
Oando Oil is owned by Wale Tinubuâ€™s Oando;
Mike Adenuga owns CONOIL,
Femi Otedola owns AP,
MRS Oil is run by Aliko Dangote’s brother, Sayyu Dantata.
Other key players named today include Pinaccle Construction Ltd, as well as Integrated Oil and Gas, which is owned by a former Minister of the Interior, Capt. Emmanuel Iheanacho.
The full list, and their individual haul, as read out by Senator Abe, is as
1. Oando Nigerian Plc. â€“ N228.506 billion
2. MRS â€“N224.818 billion
3. Pinnacle Construction-N300 billion
4. Enak Oil & Gas â€“N19.684 billion
5. CONOIl â€“ N37.960 billion
6. Bovas & Co. Nig. Ltd. â€“ N5.685 billion,
7. Obat N85 billion and AP; N104.5billion.
8. Folawiyo Oil – N113.3 billion
9.IPMAN Investment Limited- N10.9billion
10. ACON – N24.1billion
11. Atio Oil-N64.4billion
12. AMP – N11.4billion
13. Honeywell – N12.2billion
14. Emac Oil- N19.2billion
15. D.Jones Oil-N14.8billion;
16. Capital Oil – N22.4 billion
17. AZ Oil- N18.613billion
18. Eterna oil- N5.57 billion
19. Dozil oil- N3.375 billion
20. Fort oil-N8.582 billion.
21. Integrated Oil and Gas- N30.777 billion
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