Some of the petroleum products marketers who were on named on Wednesday in the report of the Farouk Lawan- led Adhoc committee on fuel subsidy have condemning the report which unequivocally recommended that all those indicted should pay back excess funds that were allegedly fraudulently collected by them between 2009 and 2011.
At least 69 companies were fingered in the report.
Some of the petroleum products marketers who were on named on Wednesday in the report of the Farouk Lawan- led Adhoc committee on fuel subsidy have condemning the report which unequivocally recommended that all those indicted should pay back excess funds that were allegedly fraudulently collected by them between 2009 and 2011.
At least 69 companies were fingered in the report.
And one of the marketers, Acorn Petroleum in a statement issued in Abuja condemned the report, saying, that it was worst report ever seen as they were not properly investigated by the committee.
According to company, “Acorn unequivocally refutes the said allegation as published in newspapers and as stated in the said report.
“Acorn is amazed at the basis of the findings contained in the unofficial report. This is because Acorn was never invited to appear before the House Committee during the probe, which gave rise to the purported report, to defend its position or provide information to support its subsidy claims.
“It is established principle and common knowledge that Importation of Petroleum products into the country cannot be undertaken without an import permit from the Department of Petroleum Resources (DPR) and a quarterly allocation from the Petroleum Products Pricing Regulatory Agency (PPPRA).”
“The importation of PMS and any subsequent subsidy claims made thereon are guided by strict pricing templates initiated by the PPPRA to ensure the claims are transparent.”
“Flowing from this, any subsidy claims made by Acorn were made in the format approved by the PPPRA, according to the PPPRA's norms, rules and regulations verified by appropriate government agencies; hence the issue of unmerited subsidy claims, as alleged, does not arise. “
According to Acorn, it imported 247,021,133 litres of PMS into the country between 2010 and 2011 and is entitled to a subsidy claim of N14, 714,930,563.71.It also claimed to have received N13, 678,424,555.45 to date from PPPRA with an outstanding claim of N1, 036,506,008.26.
The statement added that “Acorn with a petroleum storage facility of 30,000MT in Ibafon Lagos and retails outlets spread across the country has been doing business in Nigeria for over 30 years and joined the petroleum subsidy fund (PSF) scheme in 2008.”
Apart from Acorn, sources confirmed to our correspondent yesterday that more marketers who have been indicted are likely to come up with their defences by next week.
Sources at the tank farms in Lagos hinted our correspondent that many of the tank farms in Apapa are jittery about the likely consequences of the probe report.
Discussion about this post