Senate announces the names of those benefiting from oil subsidies

Yesterday Dec 2nd, the Nigerian Senate announced the names of those Nigerians who are benefitting from our oil commonwealth...names of companies that shared N1.4 trillion petroleum subsidy funds.

The Senate's joint committee probing the management of petroleum subsidy funds disclosed at an investigative hearing that over 100 companies including construction companies participated in the sharing of N1.426 trillion between January and August 2011, a figure that contradicts that of the Petroleum Product Pricing Regulatory Agency, which it put at N1.348 trillion.

The full list, and their individual haul, as read out in the Senate yesterday, when you continue...



1.    Oando Nigerian Plc. – N228.506 billion
2.    MRS –N224.818 billion
3.    Pinnacle Construction-N300 billion
4.    Enak Oil & Gas –N19.684 billion
5.    CONOIl – N37.960 billion
6.    Bovas & Co. Nig. Ltd. – N5.685 billion,
7.    Obat N85 billion and AP; N104.5billion.
8.    Folawiyo Oil - N113.3 billion
9.    IPMAN Investment Limited- N10.9billion
10.    ACON - N24.1billion
11.    Atio Oil-N64.4billion
12.    AMP- N11.4billion
13.    Honeywell-N12.2billion
14.    Emac Oil- N19.2billion
15.    D.Jones Oil-N14.8billion;
16.    Capital Oil - N22.4 billion
17.    AZ Oil- N18.613billion
18.    Eterna oil- N5.57 billion
19.    Dozil oil- N3.375 billion
20.    Fort oil-N8.582 billion.
21.    Integrated Oil and Gas- N30.777 billion

Culled from Daily Times