In the bid to ascertain the veracity of the over N6 trillion allegedly spent on fuel subsidy as of the Second Quarter of this year, the House of Representatives, on Wednesday, unveiled plans to extend the ongoing investigation into the fuel subsidy from 2017 to 2022.
The House Committee investigating the subsidy payment between 2017 and 2021 chaired by Hon Mustapha Aliyu had during the ongoing investigative hearing made public the lists of 23 unregistered oil companies that participated in the fuel subsidy regime between 2017 and 2021.
The details of the affected companies were contained in a memo sent by Corporate Affairs Commission (CAC) with Reference No: RGO/SU/VOL.5/2022/0248 dated Wednesday, July 13, 2022, to the Chairman, Special Ad-hoc Committee on petroleum products subsidy regime.
According to the two-page letter signed by Maimunat Hamu. M. on behalf of CAC Register-General, the companies are: Emadeb Consortium; Britania-U Nig. Limited; Totsa Total Oil Tradings SA; Petroleum Trading Nigeria Limited; Mocoh S.A; Socar Worldwide; Calson Bermuda Ltd; Hyson; Litasco S.A; Mercuria Energy; Cepsa Lubricant; Trafigura Pte; Vitol S.A; Ocanbed Trading Limited; Bonno Energy; West Africa Gas Limited; Petrogas; Matrix; Masters Energy; Amg; Barbedos; Hindustan and Patermina.
She however urged the committee “to provide the registration numbers or any other available documents at your disposal to enable us to investigate further.”
While addressing representatives of some of the oil companies invited to the investigative hearing, the Chairman of the Special Ad-hoc Committee, Hon. Aliyu explained that the Chief Executive Officers of all the affected Companies are under obligation to explain their role in the deal with the Nigerian National Petroleum Company (NNPC) Limited during the period under review.
Hon. Aliyu who observed that the House is not witch-hunting anyone said that the Committee will write to the Embassies of the companies which he said were mostly expatriates to provide the details of the companies profiles.
In a related development, the commission in another letter dated July 15, 2022, sent five copies of the certified true documents on 22 oil companies that participated in the subsidy regime between 2017 and 2021.
They are; Heyden Petroleum Limited RC: 433175; Graton Oil Limited KC: 644074; Duke Oil and Gas Limited RC; 644561; Matrix Energy Limited RC: 612026; MRS Companies Limited RC: 241,013; Sahara Trade Nigeria Limited RC: 352,443; Essar Exploration and Production Limited RC: 692910; Sahara Group Limited RC: 668626; Rainoil Limited RC: 257,444; Casiva Limited RC: 1091598; Petroleum Trading and Supplies Company Limited RC: 506113; Napo Oil Limited RC: 333,354; Calson (Nigeria) Limited RC: 121,474; A. A. Rano Nigeria Limited RC: 399320; JKR Maritime Oil & Gas Limited RC: 1166636; BP Oil Development & Energy Services Limited RC: 1506132; A. A Rano Lubes Limited RC: 1531528; Starco Energy Trading Nig Ltd RC: 1135491; A. Y. Maikifi Oil & Gas Company Ltd RC: 973914; The Shell Petroleum Development Company Of Nigeria Limited RC: 892; Oando Oil Limited RC: 427325; and A.Y.M. Shafa Limited RC: 296,875.
“We shall revert to you on the following companies as soon as we conclude our findings: Hyde Energy; Varo Energy; Eni-Trading; Levene Energy. We could not readily find information on the exact name Petroleum & Gas Company Ltd in our record. However, you may wish to provide the registration number or any other available document at your disposal to enable us to investigate further,” it said.
While ruling on the letters, Hon. Aliyu, the Special Ad-hoc Committee “wrote to the Corporate Affairs Commission requesting the commission to avail it with information on the following companies, about 57 companies. The commission wrote as follows: I read two letters that they have sent to us.
“I will like to direct the NNPC to provide a detailed profile of these companies. At this juncture, I say that all those companies that were invited to appear before this Committee should make their profile as part of their submission. And take this to be part of the requirements for submission before this honourable committee. Those companies, the commission couldn’t find their profile; they will have a lot of questions to answer particularly, NNPC.
“This Committee will also write to their Commercial Desks of their various Embassies if they are expatriates so that we can have full data of them,” he assured.
Some of the oil companies quizzed by the lawmakers are; representatives of Sahara Energy Resources, Oando Plc, Hyde and A. A Rano where they took turns to explain contract deals with the NNPC, saying they only lifted crude and were not part of the subsidy payments.
Speaking during the hearing, A. A. Rano’s Executive Director (Business Development), Mr Sabiu Mawuta disclosed that the company has secured licence for Marginal Field and the establishment of a Modular Refinery in Nigeria.
He added that Saudi Aramco has listed A. A. Rano as the only oil and gas company that will import petroleum products directly into the country in the next three years, sequel to the company’s capacity since it diversified into the upstream sub-sector.
The lawmakers who frowned at incoherent presentations by representatives of some of the oil companies who appeared before the Special Ad-hoc Committee, Hon. Aliyu directed all the companies to submit relevant documents on the Direct Sale Direct Purchase (DSDP) contract with NNPC Limited on Friday.
The lawmakers also requested for the agreements signed with foreign partners, with a view to ensure that due process is not compromised. (Nigerian Tribune)
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