Subsidy Probe - Searching for 'Brief Case' Marketers

This Day

7 February 2012

Subsidy Probe - Searching for 'Brief Case' Marketers

analysis

To identify genuine marketers from those who 'played games' with petrol subsidy, Ejiofor Alike writes that the House of Representatives' Ad-Hoc Committee investigating the management of the fund should adopt the recommendation of the Chief Executive Officer of Oando Plc, Mr. Wale Tinubu, that any player who claimed to have imported petrol into the country should be made to provide the bills of lading; certificates of discharge and letters of credit of the imported cargoes

Group Chief Executive Officer of Oando Plc, Mr. Wale Tinubu, recently told the House of Representatives Ad-Hoc Committee investigating the management of petrol subsidy that subsidy scheme was abused when companies of no substance were allowed to participate in the business.

In a recent presentation before the committee in Abuja, Tinubu stated that the participation of these companies was in violation of the Federal Executive Council (FEC)'s guidelines that stipulated that only a company that had at least 26 petrol stations and 5,000metric tonnes storage facilities should participate in fuel importation.