Video: Despite the fear of Buhari, there is still monumental fraud in the oil sector – Senator Dino

Senator Dino Melaye

Senator Dino Melaye on Monday, February 28, has raised an
alarm over what he calls ongoing monumental fraud in the oil sector even with
the so call “fear of President Buhari” slogan and his crusade against
corruption.

Speaking at the house plenary, yesterday, Dino alleged that
some oil companies are raking in almost N2 billion from illegally Diesel
lifting at the depots.

Dino said that NNPC does not have large tank farms to store
the amount of diesel it refines, therefore approaches some private firms with
tank farms to stock the excess refined diesel products.

He alleged that during this process, some of the NNPC
officials connives with these private tank farm owners to make sure the diesel disappears
from their tank without the government notice, using a sharing formula between
the officials and the private firms.

He also alleged that NNPC has been given a total of N5.1
trillion as subsidy. According to the Senator, between 2006 and 2015, NNPC also
imported fuel the way oil marketers import fuel into the country and collected
subsidy disbursements on the imported fuel.