ZION B-BC NEWSLETTER. [ A Publication of the Zion Faith Bible-Believing Church, Kpeyegyi, Abuja Nigeria. ] { VOL. 3. NO 82. 08-03-15.} “…ONLY The Truth, Will Set You Free! (John.8:32). PETROLEUM SUBSIDY IS A MONUMENTAL FRAUD AGAINST NIGERIAN MASSES! For two consecutive weeks, Nigerians wereagainsubjected to petroleumproducts scarcity as the long queues surfaced in all petrol filling stations across the length and breadth of the nation because some disgruntled contractors/importers suspended importation for non-payment of certain outstanding subsidy arrears! *Who were the ingenious consultants who discovered the very clever plot of robbing the Nigerian masses of their hard-earned common wealth through “fuel subsidy on petrol and kerosene” – a controversial financial support claimed to be “given by government to promote economic and social policies in the Oil Sector” – without a plebiscite i.e., masses inputs or approval? *Some “ENERGY EXPERTS” were said to have been engaged during the Fourth Republic when President Olusegun Obasanjo held sway and convinced Government of the advantageous option of IMPORTING REFINED FUEL instead of building NEW REFINERIES! *The refined petroleum products in question were extracted from the Nigerian Crude Oil which was arbitrarily transported by the Federal Government Contractors to overseas countries and brought back at exorbitant and unaffordable prices! *This subsidy, according to economic watchers, though said to be “given” by government to remove some type of “financial burden” considered to be of PUBLIC INTEREST was not backed by good intentions as it fell short of proven transparency! *The import of this fraudulent charade is that CRUDE OIL which belongs to Nigerians, is taken by Nigerian politicians in position of authority who appoint Nigerian PETROLEUM CONTRACTORS to “purchase” the BLACK GOLD, export it overseas for refining and then import it back to Nigeria to be sold to the masses who could not afford the LANDING COST of about N140-150 per litre! *At this juncture, Government as the ARBITER now intervenes to perfect its fraudulent scheme by RIPPING OFF the Common wealth to pay the difference between the landing cost and its FIXED PUMP PRICE which was not decided by MARKET FORCES to its APPOINTED AND SELECTED PETROLEUM CONTRACTORS, and thereafter labels such inappropriate and fraudulent expenses as SUBSIDY! *The above procedure of importing petroleum products to Nigeria has been the monumental corruption that has plagued the nation since the new attempt at democratic governance; but successive Nigerian governments want the uninformed citizens to swallow, (hook, line and sinker), their propaganda of protecting interest of the masses through regulated pump prices of the petroleum products; but this RACKET has, instead produced multi-millionaires/ billionaires at the expense of the MONO-ECONOMY AND THE POOR MASSES WHO COULD HARDLY AFFORD TWO SQUARE MEALS PER DAY! *What the nation requires are the construction of more PETROLEUM PRODUCTS REFINERIES, to augment the present FOUR, which were built during the Military regimes! *Nigerians have always spoken with one voice that there was nothing like FUEL SUBSIDY but an organized robbery of the nations coffers by a very few hard-hearted CABAL IN GOVERNMENT! * In a very TRUTHFUL STATEMENT late August 2014, the incumbent President Goodluck Ebele Jonathan (who himself did not build one refinery in six years of governance), admitted that 60% per cent of SUBSIDIZED PETROLEUM PRODUCTS WAS SMUGGLED OUT OF THE COUNTRY BY FRAUDULENT MARKETERS AND THEIR COLLABORATORS IN GOVERNMENT! *GEJ made this self-indicting disclosure at the formal launch of the issuance process for the National Electronic Identity Card,[NEIC], at the Presidential Villa in Abuja, and was further quoted to have also said: “If you take the issue of subsidy of transport, what we do is subsidizing hydro-carbon and it does not go to the ordinary people. “Government spends huge sums of money, hundreds of billions of naira every year in the budget, ask the National Assembly. “Sometimes, it is controversial subsidizing Kerosine, yet it is going very high in the market, subsidizing PMS (petrol) and so on. “We are thinking how do we subsidize transport of the persons going school, market, persons moving from Lagos to Enugu or Lagos to Kano. “Not paying subsidy that 60% of that will be smuggled out of the country. And those who make the money will come and use that money to induce the people suffering to even to riot against government.” *The Nigerian National Petroleum Corporation, [NNPC], which is constitutionally mandated to harness, process, refine and distribute, all petroleum products/by-products emanating from CRUDE OIL extraction, has always been in the news for very negative reasons, since inception in 1977! *This institution has FOUR Refineries, two in Port Harcourt and one each in Kaduna and Warri, with combined installed capacity of 445,000, barrels per day (bpd) and which could not be said to be performing at optimal capacity since the 1999 year of a new democracy! *NNPC is the SOLE ADMINISTRATOR of the only dividend of democracy for the Nigerian masses - the twin petroleum major products of PETROL AND KEROSINE, and with its “exalted position,” has come into massive wealth of great proportion, which successive governments enshrine and worship at its ALTAR! *From time to time when NNPC revels and relishes in the abundance of its stupendous riches, it sneezes into the BUSINESS ATMOSPHERE the following “pandemic” chemical viruses: – PEROLEUM SCARCITY, PETROLEUM WORKERS’ STRIKE, OIL MARKETERS STRIKE, PETROLEUM TANKER DRIVERS’ STRIKE, PETROLEUM PUMP PRICE INCREASE; etc, and the Nigerian ECONOMY becomes stupefied into a standstill! *Most of the time, sales from Crude Oil and refined products, were either missing or unremitted to the Federation Account of the Federal Government and when eye brows were raised and allegations made by some very diligent Nigerians, they are quickly covered up with fictitious figures since whoever was the President always doubled as Minister for Petroleum Resources! *A most recent allegation of unremitted $20 US dollars by the erstwhile Central Bank Governor, now Emir of Kano, Lamido Sanusi Lamido II, against NNPC, has been successfully swept under the carpet by some fictitious government appointed auditors, who, after one whole year, March 2014-March 2015, came out with the verdict that NO MONEY WAS MISSING! * As at the time of this publication, the House of Representatives Committee on Public Accounts is probing NNPC over circumstances surrounding $14.9 US billion (about N3trillion naira) profit from Liquefied Natural Gas (LNG) paid to it since 2004-2014! * The Committee is asking for relevant documents in respect of the transactions but it is being resisted, by NNPC’s lawyer who claimed that the committee had no right to ask for the LNG accounts! *It is written: “There is a way which seemeth right unto a man, but the end thereof are the ways of death!” [Proverbs.14:12; 16:25]. *There was at one time a “FAROUK LAWAN’S HOUSE OF REPRESENTATIVE’S COMMITTEE”, which established beyond all reasonable doubt that between 2009-2011, the sum of N2.58 trillion naira was used to subsidize petroleum products, which translates to the fact that over N1.6 trillion worth of petroleum products, representing about 60% per cent of the above amount was smuggled and sold outside Nigeria during this dispensation of Mr. President! *None of the indicted OIL MARKETERS by LAWAN’S FUEL SUBSIDY PANEL, has been successful prosecuted to date as NNPC has proven to be a culpable accomplice in about FIVE similar cases of the past between 2010 and 2014! *In the meantime, the Corporation is set to repair moribund refineries with $550 million US dollars! It should interest Nigerians to know that REPAIRS OR TURN-AROUND MAINTENANCE (TAM) OF NNPC REFINERIES HAVE BEEN PERMANENTLY CEDED TO FOREIGN CONTRACTORS WHO INITIALLY BUILT THEM OVER 30 YEARS AGO OR WHOSOEVER THEY RECOMMENDED, according to the incumbent and untouchable Petroleum Resources Minister, Dizeani Allison Madueke, who reports directly to Mr. President! So, it is understandable why the Refineries have either become comatose or performing below installed capacity and therefore, importation of refined petroleum products continue to flourish instead! *During the long military administrations, the Petroleum Resources Ministry was always under lock and key, that is, under the watchful eyes of the Head of State or a VERY WELL-TRUSTED Minister of the CABAL, who reports directly to the Headmaster in the saddle of power! *It is on record that former President Olusegun Obasanjo, kept the Petroleum Ministry as an exclusive preserve and property almost to the end his two terms of EIGHT years from 1999-2007, and to date, no one is able to lay hand on, or present audited annual reports of this oil sector of BLACK GOLD! *In view of the perennial conspiratorial and monumental corruption that have been NNPC’s trade mark since its establishment; *And whereas, there is a glut in the global oil sector and the fallen international crude oil price hovers between $58-60 us dollars; * And whereas, the official Naira currency has been devalued by the Central Bank from N168 naira to N198 against ONE US DOLLAR; *And whereas, the crude oil bench oil mark price for the 2015 Budget, has also been reduced from its original $65 US dollars to $58 US dollars; *And whereas, the $200 billion US dollars earmarked for Petroleum subsidy arrears have been slashed by 50%; *And whereas, Nigerians now face another bout of petroleum products scarcity and long queues at (PMS) petrol filling stations, it has become imperative for the incoming administration to plan ahead and build at least SIX new refineries in the six geo-political zones of the nation and encourage viable States to follow suit; so that between 2015 and 2018, the importation of refined petroleum products would have been completed banned! “ Much as a total removal of Petroleum Subsidy would have been desirable with the current situation of international oil market price fall so that MARKET FORCES would play out, yet the WELFARE of the Nigerian masses must be of utmost priority because of terrible consequences of hyper-inflation that would descend on every facet of public life; right from transportation of farms products, to food items, medical care, drugs, accommodation, unemployment through downsizing or rightsizing of existing staff in both public and private sectors of the society and definitely, petrol and kerosene prices would also skyrocket beyond the average man’s pocket! *We do not want a repeat of the civil disobedience and massive protests that greeted GEJ’s partially removal of the subsidy in January 2012 and which also led to the loss of many lives! *The Ministry of Petroleum Resources and NNPC are not bigger than Nigeria and should therefore be subjected to fresh EXTERNAL FORENSIC AUDITING in other to save this great country from an unabated massive fraud and robbery of our nation’s coffers by a Cabal that is sitting on our BLACK GOLD! *In the meantime, Mr President should order an effective, professional and maximum security coverage of our porous borders along the Benin, Niger, Cameroun and Chad corridors and give it close monitoring since he has confirmed that 60% of Nigeria’s subsidized petroleum products are smuggled out of the country by fraudulent marketers and their collaborators in government! If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament of your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations. Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access,to this newsletter, log on to: facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com, https://www.google.com/+zionfaithbiblebelievingchurch . I am, Yours sincerely,Dr. David B.A. Olufon, Resident Pastor and Editor.08130669886, 08098194390.g-mail- dvdolufon@gmail.com .]