Don't waste your oil money, IMF warns FG

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...towards a better life for the people VOL. 25: NO. 61745

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ONLINE | www.vanguardngr.com

N150

FRIDAY, NOVEMBER 2, 2012

Boko Haram names SUBSIDY SCAM: Buhari, 5 others to Police confront marketers mediate with FG •P.49 with hard evidence •P.7

Don't waste your oil money, IMF warns FG •Says 80% of petrol in Benin smuggled from Nigeria •Nigeria only country that sells crude to traders — Ribadu Report

BY OMOH GABRIEL, BUSINESS EDITOR & EMMA UJAH, ABUJA BUREAU CHIEF

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BUJA—THE Inter national Monetary Fund, IMF, yesterday, cautioned Nigeria against expansionary fiscal policies, given the uncertainty that still pervades the global economic scene just as the Nuhu Ribadu Task Force set up by the Federal Government to review the oil industry has found that the use of crude oil traders was contrary to the global Continues on Page 5

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Signposts of political and economic progress •P.44 Mr & Mrs

WHAT HURRICANE SANDY CAUSED AMERICA—People wait in line for fuel at a Shell

Oil station, yesterday, in Fort Lee, New Jersey. Fuel shortages led to long lines of cars at gasoline stations in many states of America and the country faced a storm bill of tens of billions of dollars as the Superstorm rages. Photo: AFP.

BPE clarifies payment •P. 7 mechanism for GENCOs, DISCOs

DISPUTED OIL WELLS:

Jonathan wades in •P.6


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