Nigerian Times

Major Oil Marketers Association of Nigeria (MOMAN) Eleganza Biro Plaza (5TH Floor), Plot 634, Adeyemo Alakija Street, Victoria Island, Lagos. The Oil Cartel, the Cabal and the Rest of Us in Nigeria Dear Major Oil Marketers Association of Nigeria, I read your public information advert on SUBSIDY FACTS with a pinch of salt, because the information you provided is nothing new. The important issue you mentioned was the emergence of “briefcase” mafia of companies without any asset base and accountability in the Petroleum Support Fund (PSF) scheme. As you rightly noted the total cost of PMS imported into Nigeria as at December 6, 2011, was N141.38 Kobo. The regulated pump price is N65 and the subsidy claim was N76. 38 Kobo. Ignorance has done more harm to Nigerians than corruption. The anger of majority of Nigerians was provoked against the government when the Petroleum Products Pricing Regulatory Agency (PPPRA) announced the removal of the fuel subsidy on petrol on New Year’s Day January 1,...

President Goodluck Jonathan plunged himself into a quagmire between the devil called "Boko Haram" and the deep blue sea of angry masses protesting the unpopular removal of the fuel subsidy on petrol since New Year's day to date. Mr. President, Public Offers and Sensitization about Oil Deregulation Came too late ~ By John Egbeazien Oshodi, Ph.D No one doubts that there could be a long-term benefits for all Nigerians from the massive oil price deregulation but the ill-timed manner by which executive decision was made showed poor management style. This leadership blunder has not only resulted in a state of economic and social confusion but it has equally received tensed response to split-minded way with which the government reached its decision. The ineffectiveness behind the fuel subsidy removal order remains clear as evidenced in the people’s painful reactions. Certainly, in an economy like Nigeria which is marked by severe economic gap and class division among the people,...

The fuel subsidy has never favoured the majority of Nigerians, but the oil marketers and their distributors who are major stakeholders in the corrupt government of President Goodluck Jonathan of Nigeria. The masses don't own the filling stations and they don't import fuel. So who are those ripping them off? The oil marketers importing fuel and the owners of filling stations who are leading members of the corrupt ruling party and the President is their major beneficiary. The real beneficiaries of the misappropriated fuel subsidy in Nigeria are the Nigerian National Petroleum Corporation (NNPC) and others on the following list. List of Petroleum/Oil Marketing Companies in Nigeria September 24, 2007 The list below contains the names of the oil marketing companies in Nigeria. Companies that are only involved in the downstream section of the oil chain. The list is not exhaustive but these are the main players in the industry. The information is available both in the ta...