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NON-METALLIC MAG-DRIVE CENTRIFUGAL PUMPS
- WIRE ROPE ANCHOR
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References AIR
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Steel Grit G80
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Steel shot S780
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Cooper cut wire shot
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Parboiled rice
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Load out control system
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Iron manufacture control system
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VRX - BTR Series - Vortex and breaker Pumps
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Frame crane
-
Graphite Electrode
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NON-METALLIC MAG-DRIVE CENTRIFUGAL PUMPS
- WIRE ROPE ANCHOR
-
References AIR
-
Steel Grit G80
-
Steel shot S780
-
Cooper cut wire shot
-
Parboiled rice
-
Load out control system
-
Iron manufacture control system
-
VRX - BTR Series - Vortex and breaker Pumps
-
Frame crane
-
Graphite Electrode
-
NON-METALLIC MAG-DRIVE CENTRIFUGAL PUMPS
- WIRE ROPE ANCHOR
-
References AIR
-
Steel Grit G80
-
Steel shot S780
-
Cooper cut wire shot
-
Parboiled rice
-
Load out control system
-
Iron manufacture control system
-
VRX - BTR Series - Vortex and breaker Pumps
-
Frame crane
-
Graphite Electrode
Product category
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News
Nigeria: Ribadu Report Alleges Widespread Abuse of Subsidies (05/11/2012)
A report into alleged abuses of the fuel subsidy regime has concluded that companies embezzled a total of N2.8tr from the taxpayer, and recommends demanding refunds of roughly $17.8bn from state agencies and major oil companies. The Petroleum Revenues Task Force, headed by Nuhu Ribadu (pictured), submitted its report to President Goodluck Jonathan at the weekend, and also called for more competitive pricing of fuel.
Nigerian National Petroleum Corporation (NNPC), the Department of Petroleum Resources (DPR), Shell Nigeria, Addax oil company, Nigeria Liquefied Natural Gas (NLNG) and others have been accused of abusing the subsidy system.
NNPC has been particularly criticised by the report's authors. “The review revealed that over a 10 year period (2002 -2011), the state may have been short paid by an estimated sum of US$5 billion, although it was understood from discussions with NNPC officials that the pricing of domestic crude oil was based on international prices,†the report says. “Enquiries from NNPC revealed that up until October 2003, NNPC was granted fixed price regimes which explain the wide disparity in prices in the earlier years.†If the recommendations of the report are implemented, NNPC will be made to refund approximately N2.19tr to the Federation.
“We also found that amounts payable to suppliers of petroleum products, as at 31 December 2011 amounts to approximately US$3.6 billion, of which US$2.7 billion represents amounts outstanding for over 365 days,†said the report. The Task Force recommended that no deductions should be made from the amounts payable by NNPC and that domestic crude oil should be sold at internationally competitive prices.