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House Committee Report on Fuel Subsidy Removal - Federal Republic of Nigeria

House Committee Report on Fuel Subsidy Removal - Federal Republic of Nigeria

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Published by elrufaidotorg
Following the removal of Nigeria's fuel subsidy and the subsequent social unrest, the House of Representatives voted to appoint a special committee headed by Farouk Lawan to investigate the situation. The final report presented here represents a groundbreaking moment in Nigeria's long history of corruption and official malfeasance against the public interest.
Following the removal of Nigeria's fuel subsidy and the subsequent social unrest, the House of Representatives voted to appoint a special committee headed by Farouk Lawan to investigate the situation. The final report presented here represents a groundbreaking moment in Nigeria's long history of corruption and official malfeasance against the public interest.

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Published by: elrufaidotorg on Apr 22, 2012
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06/12/2012

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1
REPORTOF THE AD-HOC COMMITTEE
 „
TO VERIFY AND DETERMINE THE ACTUAL SUBSIDY REQUIREMENT AND MONITOR THE IMPLEMENTATION OF THE SUBSIDY REGIME IN NIGERIA
‟ 
 RESOLUTION NO. (HR.1/2012)LAID ON WEDNESDAY 18
TH
APRIL, 2012
 
2
TABLE OF CONTENTS
 
PAGES
1. Glossary of Terms i - ii2. List of Annextures, Tables and Appendixes iii - iv3. CHAPTER 1:
Executive Summary 3
 –
12
 4. CHAPTER 2:
Preamble & Terms of Reference
 
13
 –
15
 5. CHAPTER 3:
Methodology 16
 –
26
  A. Modus Operandi 16
 –
18B. Invited Companies 19
 –
23C. Invited Federal Government Agencies 24
 –
25D. Invited Professional Groups & Individuals 266. CHAPTER 4:
Existing Subsidy Regime 27
 –
49
  A. The Petroleum Support Fund (PSF) 27B. Principles of the PSF 28
 –
30C. Responsibilities of Stakeholders/Operators 30
 –
497. CHAPTER 5:
 Associated Infrastructures 50
 –
71
  A. Refineries 50B. Tank Farms, Depots & Storage Capacities 51
 –
60C. Retail Outlets & Storage Capacities 61
 –
64D. Jetties 65
 –
69E. Barges 70F. Ports 718. CHAPTER 6:
Observations and Findings 72
 –
184
 Section A: Government Agencies 72
 –
124Section B: Marketers 125
 –
131Section C: Forensic Investigation (Maritime) 132
 –
142Section D: Forensic Investigation (Financial) 143
 –
1849. CHAPTER 7:
Recommendations 185
 –
202
 10. CHAPTER 8:
Conclusion 203
 –
205
 11. Attestation
205
 
3
CHAPTER ONE
EXECUTIVE SUMMARY
Following the removal of subsidy on PMS on the 1
st
day of January, 2012by the Federal Government of Nigeria and the attendant spontaneoussocial and political upheavals that greeted the policy, the House ofRepresentatives in an Emergency Session on the 8
th
of January, 2012 setup an Ad-hoc Committee to verify and determine the actual subsidyrequirements and monitor the implementation of the subsidy regime inNigeria.The Federal Government had informed the nation of its inability tocontinue to pump endless amount of money into the seeminglybottomless pit that was referred to as petroleum products subsidy. Itexplained that the annual subsidy payment was huge, endless andunsustainable. Nigerians were led to believe that the colossal paymentsmade were solely on PMS and HHK actually consumed by Nigerians.Government ascribed the quoted figures to upsurge in international crudeprice, high exchange rate, smuggling, increase in population and vehiclesetc. However, a large section of the population faulted the premise of theGovernment subsidy figures, maintaining that unbridled corruption and aninefficient and wasteful process accounted for a large part of thepayments. To avert a clear and present danger of descent intolawlessness, the leadership of the House of Representatives took the

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