Oil Subsidy: What Jonathan Knew About The N1.76trillion Payment?

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Information recently made available to 247ureports.com through sources within the power corridors of the federal capital of Nigeria, Abuja, indicates that there appear jolting intricacies laden within the sudden quantum-like spike in oil subsidy payments to select oil marketers/importers during the period immediately preceeding the presidential elections of April 2011 [February to April 2011] and the period immediately following the said elections [April to August 2011] – which coincided with the arrival of Ngozi Okonjo Iweala as the Finance Minister for the Ministry of Finance in August 17, 2011.

A principal and knowledgeable source within the Jonathan administration indicates that the sudden “quantum-leap” in the payment of oil subsidy payments was not a mistake. “The President knew about it” said the source who explained that fake submissions for oil subsidy payments were approved and disbursements were made – and the monies were used towards financing the President’s election of 2011.

On the afternoon of January 11, 2011,  two days to the Peoples Democratic Party [PDP] presidential primaries at the Eagles Square in Abuja, the source, pointed to the huge [“staggering”] amount withdrawn from the Central Bank of Nigeria [CBN] for “classified” expenditure. The sum withdrawn, according to the source, was in excess of N150billion.

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The money was withdrawn for use against the threat posed by the PDP opponent [Abubakar Atiku] to President Jonathan. Atiku was said to be in a critical race against the president for delegates. The Jonathan campaign had received intelligence the Atiku campaign reached out to 3000 delegates and had disbursed the sum of $3000 to each delegate in exchange for their votes [3000 delegates would give Atiku the victory over Jonathan]. In reaction, the Presidency had to raise immediate ‘cash’ to avert what would appear an embarrassing loss. Within 24hours, the President’s campaign team raised the booty on Atiku – by offering each of the 3000 delegates $7000 in exchange for their votes – an equivalent total of $21million [N3.381billion]. The $7,000 was paid in foreign currency and an additional amount of N250,000 in local currency was handed to each of the 3000 delegates for “hotel and transport” costs – equivalent to a total of N750million. On the night of January 13, 2011, on the day of the PDP presidential primaries, the sum of N4.13billion [N750million + N3.381billion] was disbursed by the Jonathan campaign. And so victory was secured.

Following the victory at the Eagles Square, the President’s campaign re-focused its attention to consultations [taming] with political groups within the North who were unhappy with Jonathan’s candidacy and believed that President Jonathan should have stepped down for a northern candidate – in line with the zoning agreement previously reached by the party. For this, the president’s men made extensive consultations with each of the Emirs in Northern Nigeria and with other leaders of thought in the north. Confidential information available to 247ureports.com reveals that the consultation exercises, by the end of January 2011, cost the President’s campaign an excess of N500million.

The Jonathan campaign took an interesting turn as it entered February 2011. A fleet of private Jets was leased from four major carriers -King Airlines, Wings Aviation, Top Brazz and Overland – for use towards the national campaign. The normal charge for per hour of each aircraft was $6000 per hour – and the Jets operated at 70 hours per week. The Jonathan campaign paid the rate of $10,000 per hour – for the period of 10weeks – equating to an amount of N100million daily – totaling to an equivalent of N10.5billion for the said period.

Then came the February 14, 2011 billionaires meeting where the 28-member Presidential Campaign Council [PCC] was set up at the Eko Hotel in Lagos. The billionaires consisted of Aliko Dangote, Otedola, Adenuga, Elumelu, Jimoh Ibrahim, Emeka Offor, Kasim Bukar, Sayyu Dantata, Jim Ovia and others. And as the PCC which was primarily tasked with raising funds for the campaign began work in February of 2011, the oil subsidy requests for payment also began to experience a quantum leap from the budgeted N245billion to N1.7trillion.

Interestingly, the Petroleum Resources Minister, Mrs Allison Madueke and the Finance Minister, Mrs Okonjo Iweala while testifying before the House of Representative Committee investigating the Oil Subsidy funds management indicated that the amount disbursed as at February 2011 was N245billion – and that begining from March 2011 the amounts submitted for approval suddenly surged.

Explaining the surge, the source pointed to the personalities within the 28-member billionaire PCC as directly responsible for the surge from N245billion to N1.7trillion. According to the source, shortly following the formation of the PCC, Sayyu Dantata, a member,  through his company, MRS Oil submitted a N225billion oil subsidy request for payment, Femi Otedola, through his company, AP, submitted a N105billion oil subsidy request for payment, a ‘mysterious’ construction company by the name Pinnacle Construction also submitted a claim for N300billion – during the same period.

It was during the same period that Stella Odua Ogiemwonyi who was one of the leaders in the Jonathan campaign organization filed a claim that she had spent her own personal money to the tuned of N5billion – for the maintenance of the campaign secretariat.  Stella Odua Ogiemwonyi is the Chief Executive Officer of Sea Petroleum and Gas. Interestingly,  her company submitted claims for oil subsidy payments in excess of N5billion. Her claim was approved and paid.

Cursory inquiry confirms that a significant percentage of the claims submitted by the members of the PCC were fraudulent. The fraudulent oil subsidy claims freed the President’s ability to spend in a manner deemed unprecedented by informed experts.

On March 16, 2011, the campaign released N55million to a media company [name withheld] for a single advertisement slot. By March 31, 2011, the campaign paid N7.3billion in advertisements. On March 28, 2011, it donated one car and one bus to each of the 36 chapters around the country and the FCT – along with a cash donation of N14million to each chapter [totaling N518million]. In monetary terms, its equates to a little over N1billion. Between April 12 and April 15, 2011, the campaign disbursed N107billion.

When approached regarding the sourceof the exobitant spending, the Director of the Neighbor to Neighbor Initiative [the main NGO funding and managing the Jonathan campaign], Mr. Mike Omeri stated the donations came from online contributors.

Comparing the yearly trendings of the oil subsidy claims submitted from 2006 to 2011, highlights the anomaly  in the oil subsidy claims between March 2011 and August 2011. In 2006, subsidy claims was submitted for 26.9million liters of petrol for the amount N200billion, in 2008, subsidy claims was submitted for 33.4million liters of petrol for the amount N630billion, and for 2010, subsidy claims was submitted for less than 33million liters of petrol for a little over N600billion.

And so it begs the question, What the President knew about the N1.76trillion subsidy payment.

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52 COMMENTS

  1. I don’just know where our so call leaders are taking us to, can you just imagine, all these money were spent in the name of election, while our money are being channel into selected few’s poket, mean while millions of nigerians are dying because they can’t even afford a square meal in a day,why, why, why YOU president Jonathan!!!!!!

  2. This president is well aware of all the fraud and unnecessary spending going on in this government. He benefited greatly in this oil subsidy deal.
    Just think about dizzing amount of money paid to Stella Odua for the said amount she claimed to have spent for Jonathan in his presidential election, now how does this president truely go after all these people that have taken advantage of the oil subsidies?
    the president has his hand in the same pot with all the treasury looters.
    He should remove the monkey hand from the pot of soup, and the same thing goes for Patience the first lady.
    Look at the hefty allowance she enjoys as the first lady just for entertainment that runs in Billions.
    Nigeria, this president is a big let down my regrets for supporting him.

  3. well mr J.E Goodluck could also be among the candidate of curse among the Nigerian leaders . but all I know is IF they are shine in the day time , surely before night they must surly be withered . because they gather wealth but they do not know who gains it .

  4. my fellow lovers of this great nation,if this report is reliable, then i will say *it is well * God owns vegenance.

  5. The pdp government is detriment to
    the growth and development of nigeria.they have Τo be kicked out for nigeria to move forward

  6. I always knew the subsidy fund went into the president’s campaign.The report appears reliable. Can somebody forward a petition to the EFCC to look into this. My heart is aching.

  7. Kicking out PDP will not solve the problem. Corruption is a culture already. Our traditional leaders who ought to be local guides are involved. But persecuting and punishing PDP will be a step forward..

  8. Nawao! Public funds is shared among selected rich people in the name of election campain. I dn’t think Nigerian leaders have any budget for the poor people of this country. They are just decieving us with empty promises. God will judge them.

  9. My fellow Nigerians, we know the cabal is exploiting Nigerian government, they over inflate the quantity they supply and divert petrols meant for Nigerians to other countries, after we have paid for them. We know all these, we kn ow the cabal but our hands are tied because they were the ones that funded the electoral campaign of our president Dr. Goodluck Ebele Jonathan. We can not bite the hands that gave us a president, we cannot bite the hands that put us in office, our hands are tied. Inspite of this we have ordered proper investigation concerning the oil subsidy but we don’t expect any result from it as we already know and we don’t need the result.

  10. WELL, MOST NIGERIANS ALREADY KNEW OR FELT THERE IS MORE TO THE OIL SUBSIDY ANYWAY

    While I am not pertubed by this report, most Nigerians already perceived it anyway. GEJ, OBJ, the ministers, the top politicians, Atiku, the judges, and all the influential people and the ‘powers that be’ in Nigeria know THE FACTS about corruption and the channels through which they perpetrate it in Nigeria, as such, Nigerians are not really against the removal of the so-called subsidy but against the fact tat GEJ thinks we ‘Nigerians’ should bear more economic burden just because his government cannot stand up against the ‘cabal’ as it is also a beneficiary.

  11. Thanks for putting figures to d facts we discovered long b4 subsidy removal. Time 2 act is now. If by this revelation u still decide to b quiet n play apathy, dnt blame d looters, blame urself.

  12. GOODLUCK FOR EVER!
    This is just the beginning. Remember GEJ has just spent 8 months in office and it looks as if he has spent 3 years already.Look at the magnititude of looting going under his nose and imagine how much those amount would have been used to construct and repair roads, boost power generation and distribution, equip the hospitals, sort out ASUU and university cchallenges etc.
    Nigerains have not seen anything. They are going to carry this BADLUCK for 3 more years.GEJ for life!

    • thank u Mr Uche, it is just sad that the masses have been deceived and divided into tribal/religious lines against objective assesment and consequent installation of people with proven integrity into positions of responsibility.
      Unless Nigerians realise this clear and present danger, I am afraid that recent happenings will just be a precursor to more disasters.
      May The Almighty protect and deliver all that have no hand in the genesis of these events.

  13. Many of us were not fooled and campaign against GEJ. But alas others blinded by sentiments and of course money prefered the thieving and clueless GEJ. Now Enjoy the Fresh Air!

  14. The President is the No1 Cabal,he is now trying to Recoup all the Money back through Fuel Subsidy.Mr President u need to fear God.Your Case is like Saul who God gave instructn and fail to carry it out.You have fail God and Nigerian.

  15. Only God in Heaven will jugde all this people especially Goodluck/Badluck i dnt care what he bears. How can you open up your eyes and let a big scam take place under your supposed supervision, all in the name of pride of becoming a president? Now, it is time to rain curses on all those who shared monies that is meant for the poor masses of Nigeria. It shall not be well with them from generation to generation. Whatever they thought they’ve gathered shall be taken away from them according to the bible in PROVERBS 13:22

  16. …. do we still think God is the one that put him there? even tho God allowed it, twill probably b cos he expects him to repent and call upon Him for wisdom regarding all ds so called cabal surrounding him. Thank God, i had the wisdom not to vote for him, let alone encourage other pple to! I do not operate by luck or chance rather by a different set of rules! for all those who voted for “THE MAN” and not “THE PARTY,PDP”, i sure do hope they’v started learning their lessons. As long as God lives, we will survive their evil schemes and laugh last.
    God bless Nigeria and every other nation.

  17. This is the FRESH AIR Jona promised Nigerians. I said it right from outset that Jona is going to be the worst President Nigeria has ever had. You see, if Jona cannot pity old, poor men and women who stood in the sun and rain just for a good change as he Jona promised, can’t he fear God? It’s unfortunate that this is coming from someone whom much was given and expected. Jona, God’s judgement will be upon you…you cannot escape it, unless…..

  18. I don’t know who is more stupid those that believenthisbrubbish concoction or those that read it, this is a hopeless attempt to smear the name of the president,. Why then did he move to terminate subsidy if indeed he stood to gain so much? why did he invite KPMG to audit NNPC if he had anything to hide.. The President deserves commendation for his transparency and demystification of govt expenditure and processes,,in the long run Nigeria will be better for his style ,however anyone found culpable of corruption should face the music.

  19. this comes out and NOTHING HAPPENS, nobody resigns, nobody protest for an investigation, its seems just a story. in countries were people are not above the LAW, people step down or flee. THE SADDEST STORY IS AFTER HEARING THIS NOTHING WILL HAPPEN……………..

  20. Please can someone tall me where were hedding to see how de gov is killing us and saying the are helping de masses. Helping for sure 10 day for a thief 1 day for de owner. Hope it will not be bussines as usual May god help us.

  21. All these pple writing against GEJ goverment are the housas who wants to bring this government down by all means and they will not succeed. As for those SS and SE in this forum who critisize this regime r those who who dont see beyond their nose and i bet u when the good work of GEJ starts to manifest next year they will be the first to flash their dirty smelling teeth as for the yorubas, they r confused cus they dont know who to betray again but it looks as if they want to serve their master the housas and betray this government cus betrayal has always been their second name but if GEJ won, they will be the first to postrate to show their support. Betrayals but loyal dog when they see that u are winning. Infact let the country divide so that there will be competition in development and other good things in the nations that came out of this forced marriage.

    • hello Mr chinedu wether u like t or not,a large percentage of your people come and live,own buy and sell properties (landed) even at the ordinary mans level here in the north. they dont have to bring a hausa guarantor to be able carry out these transactions. They (igbos) have also testified severally that life in the north is more peaceful,no jazz, or your relatives trying to poison you. So you c my fellow nigerian even if the country is divided you in the SE /SS will find it more difficult to live together,with your punching bag,the hausa,now missing from the scene. Please reflect and b honest to your self,who or what is our problem in Nigeria? then we may all find a worthier cause to spend our energies on,cheers.

    • chinedu, im so sorry for, while partriotic nigerians look beyond region, tribe or ethnic and take nigeria as their constituency, u bcos of ur parochial thinking, u restrict urself to ur region, do u think without hausas and yorubas ur region wil be able to survive?
      My advice to u is to look at the issues and facts and form ur opinion base on that rather than basing ur opinion base on ur ethnic or anyother persons region/tribe so that the country can be mover forward.

    • For writing this,may the gods destroy u,u ar destroyed and cursed already for writing this against Yorubas,u ar nt representing the ibos cos im sure majority will denounce u wt this rubbish that u wrote

    • I read one chindu’s reply and i feel very very disturbed with his comments insulting the Yorubas. I know u re from the SE. ur believe is that u can always rely on the SS, let us wait till then and see who will suffer.

  22. Where is the military or are they waiting until Nigeria collapses completely. Who cares about the nonsense that ” the worst civilian government is better than the best military government”. In all honesty, this Goodluck Jonathan’s government is worse than Pol Pot of Cambodia.

    I am ashamed to say I come from Niger Delta.

  23. Chinedu, i have heard you. It is a pity that you yourself could not see the truth as the facts are clearly stated in this publication. From the handling of Corruption you would see that this president has not yet recorded any single success, a leader leads as an example, recently his wife was caught with cash in one Asian country before he became the president but the case was waved out without a due legal process. Dr Nelson Mandela divorced his wife Winnie when he found out that she was found guilty to the cases she was accused of, after legal procedures. Which Nigerian Ruler will ever do that? If you are wise enough you would see that GEJ is not in full control of the situation in Nigeria, because an Indiscipline man can never make a discipline society. You can never fight crime while you are among the criminals. I don’t know how old you are, if at all you witnessed the regime of IBB you will see that NONE of these GEJ economical promises is new to the Nigerians any more. I strongly believe that the facts in this publication are undisputed TRUTHS. GEJ IS CORRUPT he is a product of the corrupt CABALS. Watch out the handling of this Subsidy case, whether it will see the light of the day. It will be a daily topic, delayed till 2015 election, all the implicated government officials will be changed and the case will be buried. PDP + GEJ = DOOM to Nigeria. Take it or Leave it.

  24. Just as the saying “there is no fire without a fire”,even if every claims are not true;there is an element of truth about it.MR GEJ cannot deceive Nigerian by blaming oil subsidy on oil cabals,when his PCC were dominated by the same cabals- where does HE wants THEM to get their money back? it is simple…oil subsidy is a political-strategized yahoo-yahoo and the law enforcement bodies are sickle-celled ones that only makes noise on the DAILYS when their nets catches a small fish but let go of the BIG ONES.

  25. @chinedu,dnt b a fool 4 a penny. Evry1 has right to his opinion. 9ja is corrupt,including those in d grassroot,nevadless, d cleansing shd start frm our leaders. God bless 9JA

  26. We had d opportunity to vote an incorruptible personality in the person of Buhari. The greedy northerners frustrated his efforts while many from other regions did not vote for him because of sentiments. If we want Nigeria to grow, we must tackle corruption; if we want to win d war against corruption, we must vote in an incorruptible personality who has d will power to fight corruption. I hope we’ll vote Buhari come 2015, God keeping us alive.

  27. This is a comprehensive & detailed report. My concern is this, who ever leaked this out, can he/she be bold enough to testify about this? If the answer is yes, then Jonathan & his team should resign immediately and all involved should be brought in for questioning. It’s time to say NO to this disease called corruption that has eaten up or country. Enough is enough

  28. IF OUR LEADERS THINK THEY CAN CHEAT AND GET AWAY WITH IT TO BECOME SUDDEN MILLIONAIRE,BILLIONAIRE OR TRILLIONAIRE.YES LET THEM BUT ONE THING WE KNOW AND BELIEVE IS THAT AS FAR AS THEY STEP ON NIGERIA GROUND. THE OATH THEY TAKE WILL DRAIN THEIR BLOOD AND THEIR CHILDREN AND CHILDREN TO COME WILL FACE THE CONSEQUENCES AND THE CURSES IN THE BIBLE AND QURAN THEY USE TO MAKE THE OATH EXCEPT THEY REPENT.SAYS NIGERIANS.

  29. Yes indeed, it begs the question, “What Does He Know About It” and the answer is “MUM”

    So sorry for my dearly beloved country.

    I believe, We Shall Overcome, and we will together as a people and one entity!

    Long Live Nigeria!!!

  30. Jonah has betrayed the trust Nigerians gave him. The tears of the General was for this outrageous corruption engulved in oil subsidy. Jonah & his fellow vampire, remember God is All Hearing, All Seeing & He is Just. Fellow Nigerians, we should all repent to God so that we shall be save from the vampires.

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