is uneasy calm in the cabinet of President Goodluck Jonathan over the probe of
fuel subsidy management and ongoing trial of some oil marketers.
alleged mismanagement of about N382 billion while a few others are being
investigated by the Economic and Financial Crimes Commission (EFCC).
bail on Thursday, pending the filing of charges against those that are found
Investigation, however, revealed that the ongoing
probe by the EFCC has triggered division in the Federal Executive Council (FEC)
with the indictment of some oil marketers by the Presidential Committee on
Verification and Reconciliation of Fuel Subsidy headed by Mr. Aigboje
what they consider as overbearing influence of the Coordinating Minister of the
Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on the investigation
of the marketers and her insistence that they should be punished when there
could be room for restitution.
of illegally paid subsidy funds than full-scale trial of marketers which
Okonjo-Iweala has been championing.
alleged ‘blanket stigma’ given to marketers including a few ones that had been
‘helpful’ to the administration of Jonathan.
faulted Okonjo-Iweala for going about the probe as if it was purely her
initiative without the input of other cabinet members.
covertly working to undermine Okonjo-Iweala, with some of them pushing for her
exit from the cabinet for proving to be “too know.’’
because he believes she is guiding the economy in the right direction.
truth is that some ministers are unhappy with the way the probe into the fuel
subsidy scam was handled by Okonjo-Iweala. Their argument is that the process
of investigation and trial could paralyse the oil sector, particularly the fuel
transparency into governance instead of giving soft-landing to the
Presidential Committee to the public and the uncovering of the 25 indicted
marketers deepened the crack between Okonjo-Iweala and the ministers.
of Finance in cold war, which is apparent to cabinet members. They pretend to
be tolerating her, but if they have their way, they would want the President to
think some oil barons are desperate to create a wedge between Okonjo-Iweala and
other cabinet ministers.
some ministers and Okonjo-Iweala for not protecting some interests. She stepped
on powerful toes without looking back. That is why she has been receiving
threats. My position is that it is normal in any Executive Council.
Nigeria if no action is taken against the fuel subsidy syndicate. What is
important is that she is enjoying the confidence and trust of her boss.”
our correspondent, said: “I think I can only say that some cabinet members have
not come to terms with the ongoing reforms of Okonjo-Iweala. But they are
gradually being integrated to appreciate it.
from fuel subsidy funds is not personal. It is also not aimed at undermining
the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, or any
cabinet member as being insinuated by some people. I can tell you that the
Finance Minister is only complementing the reforms in the oil and gas sector.
They enjoy the best of relationship.
set the system right. If she had not acted the way she did, the government
would have been rubbished.
enjoyed international support and approval. We have just obtained a positive
rating by Moody Rating Agency. The Standard and Poor too also did the same with
high score on the management of the nation’s external reserves.”
Reconciliation of Fuel Subsidy Payments had initially indicted 21 firms for
fraudulent claims that cost the nation the sum of N382 billion, but the list
was later increased to 25 by the Federal Ministry of Finance based on fresh
Aig-Imoukhuede, said out of the N422 billion scrutinised, N18 billion was found
to have been duplicated, while N21 billion was cleared.
marketing and trading companies (OM&T) invited, a total of 107 honoured the
found to be duplication. So, the actual amount that was being verified is N403
billion. Of this amount, N21 billion was cleared and that leaves N382 billion
as the sum in contention for which the committee recommended that the process
of recovery should be made,” the committee report noted.