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Nairaland Forum / Nairaland / General / Politics / PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! (3075 Views)
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PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Nobody: 8:04am On Dec 05, 2012 |
Chineme Okafor The Petroleum Products Pricing Regulatory Agency (PPPRA) Tuesday in Abuja disclosed that N671 billion has been saved in subsidy claims in the last 10 months from the implementation of stringent reforms in the downstream petroleum sector. In a statement issued by its Executive Secretary, Mr. Reginald Stanley, PPPRA said the figure represents about 49.7 per cent of the N1.3 trillion that the Federal Government had to pay as subsidy on petrol in October last year. Stanley, however, explained that the figure was likely to rise by the end of the year, adding: “We have also been able to shrink the size of briefcase marketers from 128 to only 38. “In other words, we successfully weaned out 90 companies, while setting stringent regulatory conditions which would make it difficult for marketers to short-change the system. He said: “Our efforts have not stopped here, as we are more than determined to refer any matter to the EFCC, should we notice any infraction.” Stanley also acknowledged the support of President Goodluck Jonathan and the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, as well as the dedication and hard work of his staff as being key to the achievements of the regulatory agency. “The Federal Government hasdone extremely well in the area of halting fuel subsidy scams in the country. Today, such efforts at transparency and accountability are beginning to yield positive results,” he said. He added that PPPRA under his watch would remain a model organisation that is alive to its responsibilities, noting that its activities within the past year have pointed to the fact that a lot is being done to sanitise the sector and make it both sustainable and profitable for honest operators. Giving a breakdown of the beneficiaries of the subsidy scheme, he said: “Out of the N679 billion subsidy payments made between January and October, the Nigerian National Petroleum Corporation (NNPC) got N337.7 billion, while other marketers received a combined figure of N342 billion “This is as against N1.351 trillion paid within the same period last year (January to October).” He further stated that the decision by the Federal Government to first address the issue of malpractices prevalent in the oil and gas sector, as well as the absenceof actions directed at enforcing transparency and accountability in the administration of the subsidyregime, had spurred him into, among other things, executing some of these reforms. He said the reform measures were aimed at engendering pubic trust and belief in government’s sincerity in thedownstream operational activities. He said one of such initiatives included restricting participation to only owners of coastal discharge/depot facilities, thus substantially reducing participation in the Petroleum Support Fund (PSF) scheme. This move, he said, has encouraged investment in petroleum handling facilities, improved the management of participants in the PSF scheme, and at the same time promoted local content development. According to him, the PPPRA conducts regular monthly import performance review meetings, while resolving marketers’ complaints through effective mediation. “The agency equally engagedthe services of certified cargo inspectors to enhance operational efficiency and accountability in the areas of products receipts, in line with international best practices and also in order toensure that the agency’s staffare available to take physical discharge valves at depots, thereby eliminating risks of back-loading,” he said. http://www.thisdaylive.com/articles/pppra-nigeria-has-saved-n671bn-in-subsidy-claims-in-10-months/132606/ |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by tunapawizzy: 9:08am On Dec 05, 2012 |
hisssssssssssssssssssssssssssssssss......rabbish |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by felixzo1(m): 9:10am On Dec 05, 2012 |
We have no petrol at the filling stations, they should remenber that |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by emydot(m): 9:11am On Dec 05, 2012 |
Second to cooment. Saved in deed. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Suntemi(m): 9:13am On Dec 05, 2012 |
Then tomorrow, we will hear they can't find the so called "saved" money again. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Nobody: 9:21am On Dec 05, 2012 |
nonsense, we still buy fuel N120 per litre, no water, no electricity, no good road, no good medical care. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Telez(m): 9:21am On Dec 05, 2012 |
Um |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Nobody: 9:21am On Dec 05, 2012 |
Where is the M0ney? |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Jorryy(m): 9:25am On Dec 05, 2012 |
I commend their effort but what are they intending to do with the so called saved money? |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by charlexarmani(m): 9:31am On Dec 05, 2012 |
abeg hw e take affect d price of beans |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by slimchimex(m): 9:31am On Dec 05, 2012 |
pls how can i benefit from d money recovered from d subsidy..... |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by crazygod(m): 9:37am On Dec 05, 2012 |
(Thinking like GEJ) so what do we use the money for o.. Hmmm... Very difficult question... Oh! I know, let's renovate my presidential guest house with it. :/ |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Sunymoore(m): 9:42am On Dec 05, 2012 |
And this money would be use to build big mansions for our mumu leaders |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Kaxmytex(m): 9:59am On Dec 05, 2012 |
sun_temi: Then tomorrow, we will hear they can't find the so called "saved" money again.d money wey dem don dey share already |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Kaxmytex(m): 10:04am On Dec 05, 2012 |
slimchimex: pls how can i benefit from d money recovered from d subsidy.....simple question...jux trek go aso rock...first person u go meet at d gate,tell am say u wan collect subsidy share...m sure d person go give u instantly u can b lucky 2 fynd 2 pple dere....dat means ur subsidy share na double portion o 1 Like |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by miteolu(m): 10:06am On Dec 05, 2012 |
Tamita: Where is the M0ney? In circulation |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Nobody: 10:07am On Dec 05, 2012 |
This so called savings is no consequence. Does the so called savings take into account the extra N20 or so per litre (N120 minus N97) paid by Nigerians nationwide? Subsidy removal is the answer is to all these absurdities |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by donfemzy: 10:07am On Dec 05, 2012 |
Where is the damn money? 1 Like |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by cupid4ig(m): 10:15am On Dec 05, 2012 |
emydot: Second to cooment. Saved in deed.mumu ![]() |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by omenka(m): 10:19am On Dec 05, 2012 |
Can he make a point without licking the presidents ballz or the minister's twaat?? All these stooges and sycophants... Nigerians hav been buyin fuel with their blood @ gas stations over the past five months and this dolt is here singin haleluja to the Retardeen and his froggy eyed mistress. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by ijawkid(m): 10:50am On Dec 05, 2012 |
And where is the money??...... Let them start using it to develop the country........ |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Catchfire1: 11:05am On Dec 05, 2012 |
charlex armani: abeg hw e take affect d price of beans My friend, if you don't knw how this affects the price of beans, then i can only 'Shake My Head' for u ![]() ![]() |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by elrony(m): 11:17am On Dec 05, 2012 |
671 billion about to b looted widout trace., Saved ko,unsaved ni |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by jimino(m): 12:08pm On Dec 05, 2012 |
dem don loot all d mony nah. God punish all d looters, nd thieves in nigeria government |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by chakula: 12:14pm On Dec 05, 2012 |
ijawkid: And where is the money??...... Or else to enrich themselves with it, trust these politicians they know how to talk but action wouldn't forever pop-up. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Lamasta(m): 1:19pm On Dec 05, 2012 |
Inside which memory was it saved cos I can't locate the account ;DInside which memory was it saved cos I can't locate the account |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by lanrefront1(m): 1:28pm On Dec 05, 2012 |
Sincere 9gerian: This so called savings is no consequence. Does the so called savings take into account the extra N20 or so per litre (N120 minus N97) paid by Nigerians nationwide? Subsidy removal is the answer is to all these absurdities Why are you so evil? Must the populace die because you want to please your paymaster? This proves the exact opposite of what you are trying to say. This proves what's being subsidised I corruption and greed of government & its friends. Tell your Oga to kill corruption and not Nigerians. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by olivertwist: 3:08pm On Dec 05, 2012 |
We saved N671 Billion in just 10months. That's about $6.5 Billion. WTF! And what do we get in return from this govt? More borrowing. Is this nation cursed or something? Why all these wastes? |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by boladex1: 3:29pm On Dec 05, 2012 |
Sincere 9gerian: Chineme Okafor THE ONLY REASON THERE IS DROP IN THE AMOUNT PAID AS SUSBSIDY LAST YEAR AND THIS YEAR IS INCREASED THE PRIZE OF FUEL BY 50% WHICH REDUCE THE AMOUNT GOVERNMENT CLAIMED THEY PAID AS SUBSIDY, THEY DID NOT SAVED ANYTHING THE MASSES PAID FOR THAT SAVING THROUGH BUYING FUEL AT HIGHER RATE THAN LAST YEAR PERIOD. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by lanrefront1(m): 8:09pm On Dec 05, 2012 |
bola-dex: Thank u jare. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Samxiulee: 11:39pm On Dec 05, 2012 |
bola-dex:you are on point there,the head of pppra should please resign,for coming out to give this kind of report,exaltation and calling Nigerians fools. |
Re: PPPRA: Nigeria Has Saved N671billion In Subsidy Claims In 10months!! by Jeboy(m): 8:02am On Dec 06, 2012 |
This is why most of the so-called Nigerian graduates cannot pass simple comprehension test. The analysis compared what govt spent last year against this year and found the difference as 671 billion Naira. It doesn't mean that amount was lodged as savings somewhere, all he is saying is what we spent last year, we didn't spend dis year in Subsidy claims. Please let's try and act smart than the theiving politician we call clueless. If this is all we got,then am afraid of the future. Don't be too haste to comment on a thread,they don't give any award for that. |
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