THE BIG KEROSENE FRAUD: Depot owners buy atN41, sell @ N125

Page 1

...towards a better life for the people

** MONDAY, JULY 2, 2012

VOL. 25: NO. 61656

EURO 2012 FINALS: PAIN FOR ITALY

N150

I'm not soft on fight against corruption — Jonathan •Pg.6

Spain: Un4gettable W

ORLD Champions, Spain, yesterday, contin ued their domination of world football when they totally outclassed Italy 4-0 to successfully retain the European Championship, the first country to do so. Two first half goals by Silva and Jordi Alba knocked Italy out of their stride and gave Spain to play their possession football to the delight of their fans and admirers of good football. The early goals forced Italy to struggle but their efforts were further dimmed by two more brilliant goals scored by substitute Torres in the 84th minute and Juan Mata four minutes later.

Crises in telecom sector

The FDI implications •P. 17

THE BIG KEROSENE FRAUD:

Depot owners buy at N41, sell @ N125

BY CLARA NWACHUKWU

L

•How they shared subsidy money •Pg.52 •Nigerian masses groan under 300% price increase •Committee orders forensic audit of NNPC claims

A G O S — NIGERIANS have been forced to pay as much as N150/litre of kerosene instead of the government subsidised rate of N50 because the Nigerian National Petroleum Corporation, NNPC, chose to sell

Continues on Page 5

Mr & Mrs BREAKDOWN OF NNPC’S KEROSENE SALES TO BULK PURCHASERS BETWEEN 2009 AND 2011, IS SHOWN BELOW (IN LITRES): Year

NNPC RETAIL

%

MOMAN

%

IPMAN

%

DAPPMA

%

TOTAL

2009

80,612,700

4

263,157,631

13

257,939,989

13

1,407,176,031

70

2,008,886,351

2010

167,144,476

5

310,177,876

10

471,960,914

15

2,175,103,761

70

3,124,387,027

2011

162,107,320

6

365,676,473

13

562,087,407

20

1,722,365,963

61

2,812,237,163

Total

409,864,496

5

939,011,980

12

1,291,988,310 16

5,304,645,755

67

7,945,510,541

C M Y K


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