By Obinna Akukwe
Posted by admin February 17, 2015
It’s more news the North wants GEJ out of the way,
so their licenses can be renewed cos most of them
are expiring from 2016 upwards.
Monumental injustice is being perpetrated to the
people of Niger Delta on whose soil the oil was
found.
These people constitutes the main opposition to
President Goodluck Jonathan today. Please Read
on:
(1) This oil block business is so lucrative that
Danjuma’s Sapetro divested of its investment in
Akpo condensate for $1billion dollars. This business
is second to none in Nigeria. That is why any
attempt to investigate the activities in this sector
will always be futile. The money is so much that
they give bribes in millions of dollars.
A birthday gift or child naming gift from an oil block
owner to a government official could be as paltry as
$2million dollars, and if the official’s father died, the
condolence gift could reach mere $3 million dollars.
When they want to bribe legislators, it is in millions
of dollars and any ongoing investigation ends within
weeks. They are so confident that with excess
money they can buy up Nigeria and they are
succeeding
(2) OML 110 with high yield OBE oil fields was given
Cavendish Petroleum owned by Alhaji Mai Daribe,
the Borno Patriarch in 1996 by Sanni Abacha. OBE
oil field has estimated over 500 million barrels of oil.
In layman’s language and using average
benchmark of $100 dollars per barrel, translates to
$50 billion dollars worth of oil reserve. When you
remove the taxes, royalties and sundry duties worth
about 60% of the reserve payable over time you get
about $20billion dollars worth of oil in the hands of a
family.
(3) OPL 246 was awarded to SAPETRO, a company
owned by General Theophilus Danjuma, by Sanni
Abacha in 1998. Akpo condensate exports about
300,000 barrels of crude daily.
(4) NOML 112 and OML 117 were awarded to AMNI
International Petroleum Development Company
owned by Colonel Sanni Bello in 1999. Sanni Bello is
an inlaw to Abdulsalami Abubakar, former Head of
State of Nigeria.
(5) OML 115, OLDWOK Field and EBOK field was
awarded to Alhaji Mohammed Indimi from Niger
State. Indimi is an inlaw to former Military President
Ibrahim Babangida.
(6) OML 215 is operated by Nor East Petroleum
Limited owned by Alhaji Saleh Mohammed Gambo.
(7) OML 108 is operated by Express Petroleum
Company Limited is owned by Alhaji Aminu Dantata.
(cool OML II3 allocated to Yinka Folawiyo Pet Ltd is
owned by Alhaji W.I. folawiyo
(9)ASUOKPU/UMUTU marginal oil fields is operated
by Seplat Petroleum. Seplat is owned by Prince
Nasiru Ado Bayero, cousin to the Central Bank
Governor Lamido Sanusi. This oil field has the
capacity of 300,000 barrels of oil daily. This
translates to $30million dollars daily at average
benchmark of $100 dollars per barrel. Deducting all
sundry taxes, royalties etc , this field can yield $
12billion dollars daily for the owners .
(10)Intel owned by Atiku, Yarádua and Ado Bayero
has substantial stakes in Nigeria’s oil exploration
industry both in Nigeria and Principe and Sao Tome.
(11) AMNI owns two oil blocks OML 112 and OML
117 which it runs Afren plc and Vitol has substantial
stakes in oil blocks. Afren plc is operating EBOK oil
fields in OML 67. Vitol lifts 300,000 barrels of
Nigerian oil daily. Rilwanu Lukman, former OPEC
Chairman has stakes in all these named three
companies.
(12) OPL 245 was awarded to Malabu Oil& Gas
Company by Sanni Abacha. Dan Etete, Abacha’s oil
minister owns Malabu Oil. In 2000, Vice President
Atiku Abubakar convinced Obasanjo to revoke OPL
245 given to Malabu Oil. Etete had earlier rejected
Atiku’s demand for substantial stakes in the high
yield OPL 245 and it attracted the venom of Ota
Majesty who revoked the licence. However, in 2006,
Obasanjo had mercy on Dan Etete and gave him
back his oil block worth over $20 billion dollars.
(13) OPL 289 and OPL 233 was awarded during
Obasanjo era to Peter Odili fronts, Cleanwater
Consortium, consisting of Clenwater Refinery and
RivGas Petroleum and Gas Company. Odili’s brother
in law, Okey Ezenwa manages the consortium as
Vice Chairman.
(14) OPL 286 is managed by Focus Energy in
partnership with BG Group, a British oil concern.
Andy Uba has stakes in Focus Energy and his
modus operandi is such that you can never see his
name in any listings yet he controls OPL and OML
through proxies
(15)OPL 291 was awarded to Starcrest Energy
Nigeria Limited, owned by Emeka Offor by
Obasanjo . Immediately after the award, Starcrest
sold the oil block to Addax Petroleum Development
Company Limited (ADDAX) Addax paid Sir Emeka
Offor a farming fee of $35million dollars and still
paid the signature bonus to the government. Emeka
Offor still retains stake in ADDAX operations in
Nigeria.
(16) Mike Adenuga’s Conoil is the oldest indigenous
oil exploration industry in Nigeria. Conoil has six oil
blocks and exports above 200,000 barrels of crude
daily.
(17)The oil block national cake sharing fiesta could
take twists according to the mood of the
Commander-in –Chief at the particular time. In
2006, Obasanjo revoked OPL 246 which Abacha
gave to Danjuma because he refused to support the
tenure elongation bid of the Ota Majesty. In 2000,
Obasanjo had earlier revoked OPL 241 given to Dan
Etete under the advice Atiku. However, when the
Obasanjo-Atiku faceoff started, the Ota Majesty
made a u-turn and handed back the oil block to
Etete.
(18)During the time of Late President Yarádua , a
panel headed by Olusegun Ogunjana was set up to
investigate the level of transparency in the award of
oil blocks. The panel recommended that 25 oil
blocks awarded by the Obasanjo be revoked
because the manner they were obtained failed to
meet the best practices in the industry. Sadiq
Mahmood, permanent secretary in the Ministry of
Petroleum endorsed the report to then president
with all its recommendations. As a result of the
report Yarádua revoked eleven oil blocks.
(19) In April 2011 Mike Adenuga attempted to buy
Shell’s OML 30 for $1.2 billion dollars. The Minister
for Petroleum and Nigeria’s most powerful woman
refused the sale of the OML30 to Adenuga citing
national interest. This block was later sold to
Heritage Oil for $800 million dollars eleven months
later.
(20) In the name of competitive bidding, which
Obasanjo introduced in 2005, Officials bring
companies overnight and through processes best
described as secretive and voodooist they award
blocks to party faithful, fronts and phoney
companies. They collect gratifications running into
hundreds of millions of dollars which is paid into
offshore account and the nation loses billions of
dollars of revenue to private pockets.
During the third term agenda, Obasanjo was
deceived that the allocation of oil block to party
faithfuls is to fund the third term agenda. With the
failure of the third term, the beneficiaries went
home with their fortunes and thanked God or Allah
for buttering their bread.
Senator Andy Uba co ordinate the award of the last
rounds of oil block by Obasanjo in 2005 and 2007.
The then minister of petroleum, Edwin Daukoru was
a mere errand boy who took instructions from the
presidential aide
The process of sharing Nigeria’s oil block national
cake is as fraudulent now as when Ibrahim
Babangida started the process of discretionary
allocation of oil blocks to indigenous firms.
Discretionary allocation of oil blocks entails that a
president can reward a mistress who performs
wonderfully with an oil block with capacity for
cumulative yield of over $20 billion dollars without
recourse to any process outside of manhood
attachments.
Babangida, Abacha, Abdulsalami and Obasanjo
awarded discretionary oil blocks to friends,
associates, family members, party chieftains,
security chiefs and all categories of bootlickers,
spokespersons and cult members without any laid
down procedures.
The recipients of such oil blocks will get funds from
ever willing offshore financiers and partners to
graciously settle the benefactors, the awarders,
facilitators and the Commander-in-Chief through
fronts. These settlements mostly paid into foreign
accounts runs into hundreds of millions of dollars
according to the potential yield of the block.
Sometimes, the awarder (sharer of national cake
and direct intermediaries) demand additional stakes
in the bidding company. The awarder sends fronts
as part of the directorship and management of the
bidding firms without leaving a link to them. That is
how the oil block national cake is distributed to a
few Nigerians.
Signature bonuses which are paid when an investor
successfully bids, wins and signs agreement with
the petroleum ministry, running into tens of millions
and sometimes hundreds of millions of naira ,is
often waived off. There is actually no waiver; rather
a diversion of what would have been paid to
government t coffers is paid into private purse as
appreciation gifts.
That is why those in the Petroleum Ministry dread
retirement as though it signifies going to hell fire. No
matter how little your influence, something
substantial must enter your hands especially in
hard currency. The nation loses billions of dollars in
diverted revenue whenever any round of auction
occurs.
The regime of President Goodluck is not showing
any signs of changing the status quo. Controversies
have trailed the activities of the Minister of
Petroleum and many players in the Industry accuse
her of demanding stakes from every oil deal. It is
hoped that President Goodluck Jonathan will
remember his transformational promise to Nigerians
and endeavour to face the hawks in the oil industry.
The angst in the air is so much that if this monster
of illegal allocation of oil block is not addressed, the
much touted revolution could begin all of a sudden
and all who condoned this illegality at the expense
of hungry Nigerians may have nowhere to hide.
Culled from How Babangida, Abubakar, Abacha,
Obasanjo Shared Nigeria’s Oil Blocks
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