{"id":19261,"date":"2013-11-12T14:15:40","date_gmt":"2013-11-12T13:15:40","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=19261"},"modified":"2013-11-12T14:15:40","modified_gmt":"2013-11-12T13:15:40","slug":"500-billion-nairaoil-money-is-missing","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/articles-opinions\/500-billion-nairaoil-money-is-missing\/","title":{"rendered":"500 Billion Naira,Oil Money Is Missing"},"content":{"rendered":"<p>Fela&#8217;s Army arrangement (from where i got the subject of this piece) was a<br \/>\nclassic amongst others. In that particular song he sang about corruption<br \/>\nespecially about a certain 2.8billion Naira that got missing. About how<br \/>\n&#8216;dem set up inquiry&#8217;,how&#8217; dem say money no lost&#8217;,how &#8216; dem dabaru every<br \/>\nbody&#8217; and &#8216; inquiry come close&#8217;.<br \/>\nThat was years back and he knew who took that oil money. Since he dropped<br \/>\nthat classic, money has continued to miss with reckless abandon and today,<br \/>\nour 500billion Naira oil money is missing, we do not know yet if we will<br \/>\never find it.<br \/>\nAt the beginning of 2012, we woke up to the announcement by the president<br \/>\nthat there was going to be a removal of the fuel subsidy, meaning we had<br \/>\nto pay more for fuel. We were not going to have none of that. But as is<br \/>\nthe norm here, they did all they could to convince us that is the solution<br \/>\nto all our problems. They said the life of the ordinary man will be<br \/>\nimpacted. They promised us employment; they said the education sector will<br \/>\nimprove, that power supply will be amongst the best in the world, they<br \/>\npromised us standard health care and all.<br \/>\nThey said a few individuals had been milking us for years and that the<br \/>\nsubsidy removal will remove the food from their mouth and transfer same to<br \/>\nus-the people. They told us our problems were finally over.<br \/>\nWe still protested nonetheless. Those that hit the streets did. Everybody<br \/>\ncomplained one way or the other and that was it. The protest ended and we<br \/>\nlost as usual. They got their wish<br \/>\nEnter SURE-P. This is an initiative similar to the PTF if you remember.<br \/>\nThe Subsidy Reinvestment and Empowerment programme was introduced to make<br \/>\npeople feel the positive impact of the subsidy removal. The programme has<br \/>\ncommittees and sub committees from infrastructure development, to public<br \/>\nworks, to maternal and child health care and so on.\u00a0 This was set up in<br \/>\nFebruary of 2012 and we are yet to feel the impact of SURE-P.\u00a0 This is<br \/>\nsupposed to be an initiative that will bring relief to citizens<br \/>\nexperiencing hardship as a result of that subsidy removal and today the<br \/>\nstory is the same. There has been no improvement. We in fact are having it<br \/>\nworse. It is just so plain to see and nobody should come and tell us<br \/>\notherwise. Most people do not even know the existence of the SURE-P. The<br \/>\nstate of our infrastructure is not improving. Health care is getting<br \/>\nworse. Our women and children (especially in the rural areas) are dying<br \/>\nfrom curable sicknesses. The unemployment rate is soaring. I understand<br \/>\nten thousand naira is given to like 100,000 people from the SURE-P<br \/>\naccount. Is that way to go?<br \/>\nThis SURE-P is like a hoax. It is in fact a business venture for a select<br \/>\nfew .The impact is not felt at all compared to what the PTF did. Let\u2019s not<br \/>\neven fool ourselves. I am yet to be convinced. I have not seen jack.<br \/>\nTo make matters worse our 500billion Naira is missing. This money we<br \/>\nunderstand is supposed to be for SURE-P. Now the SURE-P has a special<br \/>\naccount with the CBN. This means the NNPC pays the subsidy cash into this<br \/>\nCBN account for SURE-P.<br \/>\nAccording to a member of the SURE-P committee Kabiru Mafara representing<br \/>\nZamfara state ,800 billion Naira has been generated so far from subsidy as<br \/>\nagainst 300bn that has been claimed by the SURE-P. Hear him \u201cThis<br \/>\ncommittee wrote to the relevant organisations that benefit from this<br \/>\nSURE-P when it was inaugurated. It was said that the subsidy regime was<br \/>\ngoing to be N32 a litre and this committee wrote the NNPC to ascertain the<br \/>\nquantity of fuel being imported from the time this subsidy programme<br \/>\nstarted.<br \/>\n\u201cNNPC replied the committee that from January 2012 to December 2013, which<br \/>\nif you calculate it will give about 21 months.. they gave a breakdown of<br \/>\nthe quantity per month. When you put up everything, it comes to roughly 25<br \/>\nbillion litres per month.<br \/>\n\u201cNow, if you multiply 25 billion by 32, you get about N800 billion, and<br \/>\nwhat SURE-P told us when they came here when we invited them was that they<br \/>\ncollected about N300 billion at N15 billion flat rate per month. So if you<br \/>\nmultiply 21 by 15 billion, you will get about N315 billion. So what we are<br \/>\ntalking about is the amount involved, which is N500 billion, where is it?<br \/>\nThat is what we wanted NNPC to tell us.\u201d<br \/>\n\u201cMaybe CBN will tell us this is what NNPC is remitting to them he<br \/>\ncontinued; maybe NNPC will say no, we have been remitting this amount of<br \/>\nmoney, but CBN is remitting on N15 billion. So, they are remitting only<br \/>\nN15 billion; then we will ask CBN: how did you come about the N15 billion<br \/>\nflat rate, because this thing can\u2019t be a flat rate?\u201d<br \/>\nSo the question still remains, where is our 500billion Naira? It is<br \/>\nevident from the above statement that our oil money is missing.<br \/>\nAs usual, the NNPC did not show up to explain. Will it ever give us an<br \/>\nexplanation? Only time will tell. It looks most unlikely though, because<br \/>\nthe amount of sleaze that\u2019s been going on in the NNPC stinks and nobody\u2019s<br \/>\nbeen brought to book. It is looking like somebody from NNPC is holding<br \/>\nthis government by the balls.<br \/>\nIs the SURE-P being undermined? I think not (time will tell too). Thus<br \/>\nfar, it has not even impressed, even with the amount it claims to have<br \/>\ngotten.<br \/>\nThis grand corruption should not be swept under the carpet. I am surprised<br \/>\nthat this particular sleaze has not generated a lot of heat as Stella and<br \/>\nthe Bullet proof BMW.\u00a0 We are not even done with that ;then this. As usual<br \/>\ncommittees will be set up and it drags on and on and we all forget. That<br \/>\nhas always been their strategy. This trend must stop. Think of what 500<br \/>\nbillion Naira can do!<br \/>\nThis is another test for the Goodluck Jonathan led government (while we<br \/>\nawait what comes out of the Oduah case).<br \/>\nI just want to remind the government that while we are at setting up<br \/>\ncommittees to tackle corrupt practices, Ghana our neighbour is teaching us<br \/>\nhow to go about it. You must have heard that the Deputy Minister of<br \/>\ncommunication of Ghana was recently sacked because of some careless<br \/>\nSTATEMENT. Yes, she just talked. She has not actually done the deed. She<br \/>\nallegedly said she won\u2019t leave government until she\u2019s made 1 million<br \/>\ndollars and then bang; she gets the sack! Will that ever happen here? Not<br \/>\nin this life time! Not in a million years. Our government and its attack<br \/>\ndogs will come at you blazing. Barking like rabid dogs. They\u2019d ask you<br \/>\nwhen it became a crime to talk.<br \/>\nTo think this is the same Ghana whose citizens we\u00a0 chased away from here<br \/>\nsome years ago because they were becoming a nuisance? Now they are leading<br \/>\nthe way in almost every facet and we even refuse to follow. Our people now<br \/>\ntake pride in enrolling their wards in Ghanaian universities and fact is<br \/>\nthey seem to have made the right choice!<br \/>\nIt is time to rise against corruption before it kills us all.<br \/>\nThis recent sleaze should be looked into thoroughly and whoever is<br \/>\nculpable should get the coldest part of Jail. This is another test for<br \/>\nthis government to really prove its stance against corruption as we all<br \/>\nknow that is the number one reason why we are where we are today.<br \/>\nI hope they don\u2019t dabaru everybody in this case as well as the BMWs just<br \/>\nlike they Did Fela a while back. Baba knew who stole his 2.8billion Naira<br \/>\nthen; can we at least know who stole our 5oobillion Niara?<\/p>\n<p>God bless Nigeria.<\/p>\n<p>Chiechefulam Ikebuiro<br \/>\nthalynxis@yahoo.ca<br \/>\n@thalynxis<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Fela&#8217;s Army arrangement (from where i got the subject of this piece) was a classic amongst others. In that particular song he sang about corruption especially about a certain 2.8billion&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":19262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-19261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles-opinions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>500 Billion Naira,Oil Money Is Missing - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/articles-opinions\/500-billion-nairaoil-money-is-missing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"500 Billion Naira,Oil Money Is Missing - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Fela&#8217;s Army arrangement (from where i got the subject of this piece) was a classic amongst others. 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