It’s more news the North wants GEJ out of the way,
so their licenses can be renewed cos most of them are expiring from 2016
upwards. Monumental injustice is being perpetrated to the
people of Niger Delta on whose soil the oil was found.
These people constitutes the main opposition to
President Goodluck Jonathan today. Please Read on:
(1) This oil block business is so lucrative that
Danjuma’s Sapetro divested of its investment in Akpo condensate for $1billion
dollars. This business is second to none in Nigeria. That is why any attempt to
investigate the activities in this sector will always be futile. The money is
so much that they give bribes in millions of dollars. A birthday gift or child naming gift from an oil
block owner to a government official could be as paltry as $2million dollars,
and if the official’s father died, the condolence gift could reach mere $3
million dollars. When they want to bribe legislators, it is in millions of
dollars and any ongoing investigation ends within weeks. They are so confident
that with excess money they can buy up Nigeria and they are succeeding
(2) OML 110 with high yield OBE oil fields was given
Cavendish Petroleum owned by Alhaji Mai Daribe, the Borno Patriarch in 1996 by
Sanni Abacha. OBE oil field has estimated over 500 million barrels of oil. In
layman’s language and using average benchmark of $100 dollars per barrel,
translates to $50 billion dollars worth of oil reserve. When you remove the
taxes, royalties and sundry duties worth about 60% of the reserve payable over
time you get about $20billion dollars worth of oil in the hands of a family.
(3) OPL 246 was awarded to SAPETRO, a company owned
by General Theophilus Danjuma, by Sanni Abacha in 1998. Akpo condensate exports
about 300,000 barrels of crude daily.
(4) NOML 112 and OML 117 were awarded to AMNI
International Petroleum Development Company owned by Colonel Sanni Bello in
1999. Sanni Bello is an inlaw to Abdulsalami Abubakar, former Head of State of
Nigeria.
(5) OML 115, OLDWOK Field and EBOK field was awarded
to Alhaji Mohammed Indimi from Niger State. Indimi is an inlaw to former
Military President Ibrahim Babangida.
(6) OML 215 is operated by Nor East Petroleum
Limited owned by Alhaji Saleh Mohammed Gambo.
(7) OML 108 is operated by Express Petroleum Company
Limited is owned by Alhaji Aminu Dantata.
(8) cool OML II3 allocated to Yinka Folawiyo Pet Ltd is
owned by Alhaji W.I. folawiyo.
(9)ASUOKPU/UMUTU marginal oil fields is operated by
Seplat Petroleum. Seplat is owned by Prince Nasiru Ado Bayero, cousin to the
Central Bank Governor Lamido Sanusi. This oil field has the capacity of 300,000
barrels of oil daily. This translates to $30million dollars daily at average
benchmark of $100 dollars per barrel. Deducting all sundry taxes, royalties etc
, this field can yield $12billion dollars daily for the owners .
(10)Intel owned by Atiku, Yarádua and Ado Bayero has
substantial stakes in Nigeria’s oil exploration industry both in Nigeria and
Principe and Sao Tome.
(11) AMNI owns two oil blocks OML 112 and OML 117
which it runs Afren plc and Vitol has substantial stakes in oil blocks. Afren
plc is operating EBOK oil fields in OML 67. Vitol lifts 300,000 barrels of
Nigerian oil daily. Rilwanu Lukman, former OPEC Chairman has stakes in all
these named three companies.
(12) OPL 245 was awarded to Malabu Oil& Gas
Company by Sanni Abacha. Dan Etete, Abacha’s oil minister owns Malabu Oil. In
2000, Vice President Atiku Abubakar convinced Obasanjo to revoke OPL 245 given
to Malabu Oil. Etete had earlier rejected Atiku’s demand for substantial stakes
in the high yield OPL 245 and it attracted the venom of Ota Majesty who revoked
the licence. However, in 2006, Obasanjo had mercy on Dan Etete and gave him
back his oil block worth over $20 billion dollars.
(13) OPL 289 and OPL 233 was awarded during Obasanjo
era to Peter Odili fronts, Cleanwater Consortium, consisting of Clenwater
Refinery and RivGas Petroleum and Gas Company. Odili’s brother in law, Okey
Ezenwa manages the consortium as Vice Chairman.
(14) OPL 286 is managed by Focus Energy in
partnership with BG Group, a British oil concern. Andy Uba has stakes in Focus
Energy and his modus operandi is such that you can never see his name in any
listings yet he controls OPL and OML through proxies
(15)OPL 291 was awarded to Starcrest Energy Nigeria
Limited, owned by Emeka Offor by Obasanjo . Immediately after the award,
Starcrest sold the oil block to Addax Petroleum Development Company Limited
(ADDAX) Addax paid Sir Emeka Offor a farming fee of $35million dollars and
still paid the signature bonus to the government. Emeka Offor still retains
stake in ADDAX operations in Nigeria.
(16) Mike Adenuga’s Conoil is the oldest indigenous
oil exploration industry in Nigeria. Conoil has six oil blocks and exports
above 200,000 barrels of crude daily.
(17)The oil block national cake sharing fiesta could
take twists according to the mood of the Commander-in –Chief at the particular
time. In 2006, Obasanjo revoked OPL 246 which Abacha gave to Danjuma because he
refused to support the tenure elongation bid of the Ota Majesty. In 2000,
Obasanjo had earlier revoked OPL 241 given to Dan Etete under the advice Atiku.
However, when the Obasanjo-Atiku faceoff started, the Ota Majesty made a u-turn
and handed back the oil block to Etete.
(18)During the time of Late President Yarádua , a
panel headed by Olusegun Ogunjana was set up to investigate the level of
transparency in the award of oil blocks. The panel recommended that 25 oil
blocks awarded by the Obasanjo be revoked because the manner they were obtained
failed to meet the best practices in the industry. Sadiq Mahmood, permanent
secretary in the Ministry of Petroleum endorsed the report to then president
with all its recommendations. As a result of the report Yarádua revoked eleven
oil blocks.
(19) In April 2011 Mike Adenuga attempted to buy
Shell’s OML 30 for $1.2 billion dollars. The Minister for Petroleum and
Nigeria’s most powerful woman refused the sale of the OML30 to Adenuga citing
national interest. This block was later sold to Heritage Oil for $800 million
dollars eleven months later.
(20) In the name of competitive bidding, which
Obasanjo introduced in 2005, Officials bring companies overnight and through
processes best described as secretive and voodooist they award blocks to party
faithful, fronts and phoney companies. They collect gratifications running into
hundreds of millions of dollars which is paid into offshore account and the
nation loses billions of dollars of revenue to private pockets.
During the third term agenda, Obasanjo was deceived
that the allocation of oil block to party faithfuls is to fund the third term
agenda. With the failure of the third term, the beneficiaries went home with
their fortunes and thanked God or Allah for buttering their bread. Senator Andy Uba co ordinate the award of the last
rounds of oil block by Obasanjo in 2005 and 2007. The then minister of
petroleum, Edwin Daukoru was a mere errand boy who took instructions from the
presidential aide
The process of sharing Nigeria’s oil block national
cake is as fraudulent now as when Ibrahim Babangida started the process of
discretionary allocation of oil blocks to indigenous firms. Discretionary
allocation of oil blocks entails that a president can reward a mistress who
performs wonderfully with an oil block with capacity for cumulative yield of
over $20 billion dollars without recourse to any process outside of manhood
attachments.
Babangida, Abacha, Abdulsalami and Obasanjo awarded
discretionary oil blocks to friends, associates, family members, party
chieftains, security chiefs and all categories of bootlickers, spokespersons
and cult members without any laid down procedures. The recipients of such oil blocks will get funds
from ever willing offshore financiers and partners to graciously settle the
benefactors, the awarders, facilitators and the Commander-in-Chief through
fronts. These settlements mostly paid into foreign accounts runs into hundreds
of millions of dollars according to the potential yield of the block.
Culled from How Babangida, Abubakar, Abacha,
Obasanjo Shared Nigeria’s Oil Blocks – Written by Obinna Akukwe