69 Oil Marketers To Refund 241 Billion Naira Illegal Fuel Subsidy

The House of Representatives Ad hoc Committee on Fuel Subsidy has asked 69 oil marketers to refund N241.247billion.
Besides the illegal cash they got last year, 46 companies did not pay taxes, according to the Federal Inland Revenue Service.

The committee established that N1.692trillion was paid as subsidy last year.
But stakeholders in the industry, including some oil majors, are insisting that the probe ought to be from 1999 to date.
Besides, the presentation of the report today by the committee has assumed ethnic dimension with a group, the South-South Youth Caucus, accusing the North of plotting to undermine President Goodluck Jonathan’s administration.

The Farouk Lawan-led committee discovered that disqualified subsidy claims by 69 companies amounted to N241.247 billion.

Some of the companies are: Acorn Plc, Alminnur Resources Ltd, AMG Petro-Energy Ltd, Anosyke Group of companies Ltd, Ascon Oil & Gas Company, Avant Garde Energy, A-Z Petroleum, CAH Resources Association Ltd, Conoil Plc, Crust Energy Ltd, Downstream Energy Source Ltd, Dozzy Oil and Gas Ltd, Duport Marine Ltd, Eco-Regen Ltd, Eurafic Oil and Coastal Services Ltd, and First Deep water Discovery Ltd.

Others are: Frado International Ltd, Fresh Synergy Ltd, Heyden Petroleum, Ibafon Oil Ltd, Imad Oil & Gas Ltd, Integrated Resources Ltd, Ipman Investment Ltd, Knightsbridge, Linetrale Oil supply and Trading Company, Lingo Oil & Gas Company Ltd, Lloyds Energy Ltd, Lottoj Oil & Gas Ltd, Maizube Petroleum Ltd, Matrix Energy Oil & Gas Ltd, Menol Oil & Gas Ltd.

Source: The Nation Newspaper