Wednesday, September 25

How Dezeani Madueke and Haruna Momoh Make Billions from Subsidies

Petroleum Resources Minister, Mrs. Dezeani Allison-Madueke and Mallam Haruna Momoh are being fingered as two key beneficiaries of the multi-million naira crumbs falling off the fuel subsidy removal politics in Nigeria.

Mrs. Allison-Madueke and Mallam Momoh allegedly sleezed off N50 from each liter of kerosene and petrol produced by local refineries since January 2011. Whistle-blowers amongst petroleum marketers claimed that the two government operatives said that the money, running into millions, went into Jonathan’s campaign for president.

The whistle-blowers asked that the govt should probe Nezor SA and Tridax SA, two companies owned by the Petroleum Minister, run by her younger brother. These two companies in the last 16 month of her tenure has from nowhere become one of the few companies lifting crude oil and one of the largest beneficiaries of the subsidy.

The marketers want Nigeria to probe the new list of briefcase companies now lifting crude oil because they paid minimum of $1 million to Momoh and Deziani.

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