Friday, January 27, 2012

Fuel Subsidy Probe: Excerpts. This Would Have Been Funny..

Excerpts of the interviews on the ongoing probe into the fuel subsidy issue.
Fuel subsidy Probe:

Farouk Lawan: What is Nigeria’s daily fuel consumption?
Diezieni: 52million Liters
NNPC: 35m liters

DPR: 43m liters
PPPRA: 24M liters
Okonjo: 40M liters

Farouk Lawan: What was the subsidy for 2011?
Diezieni: 1.4Trillion
Okonjo: 1.3Trillion
CBN: 1.7Trillion

Farouk Lawan: Can we have the KPMG REPORT?
Okonjo: I have to go through the report first
Diezieni: I have not seen the report

Farouk Lawan: What is the production capacity of our local refineries?’
NNPC: 30%
PPPRA: 20%
DPR: 13%
Diezieni: 15%

Farouk Lawan: Does Nigeria pay subsidy on locally refined Products?
Diezaini: It depends
NNPC: The lay man cannot understand how it’s done
PPPRA: yes

Farouk Lawan: Why is Kerosene still scarce?
Diezieni: Because its use by the aviation industry as aviation fuel
NNPC: Because there is no subsidy so NNPC overstretched its resources
PPPRA: it’s not properly deregulated

Farouk Lawan: what is the balance in the subsidy accounts?
Diezieni: it’s a virtual account
NNPC: There is no account in existence as the lay man will look at it
PPPRA: The account is a technical one
CBN: There is no account with us for subsidy
Okonjo: The account exists but not with a bank

OMG; if the key players in government can't even agree on the problem, I wonder how then can they possibly find a solution??
O' God of Creation...Guide our leaders right.

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