Video: Despite the fear of Buhari, there is still monumental fraud in the oil sector - Senator Dino

Senator Dino Melaye

Senator Dino Melaye on Monday, February 28, has raised an alarm over what he calls ongoing monumental fraud in the oil sector even with the so call “fear of President Buhari” slogan and his crusade against corruption.

Speaking at the house plenary, yesterday, Dino alleged that some oil companies are raking in almost N2 billion from illegally Diesel lifting at the depots.

Dino said that NNPC does not have large tank farms to store the amount of diesel it refines, therefore approaches some private firms with tank farms to stock the excess refined diesel products.

He alleged that during this process, some of the NNPC officials connives with these private tank farm owners to make sure the diesel disappears from their tank without the government notice, using a sharing formula between the officials and the private firms.

He also alleged that NNPC has been given a total of N5.1 trillion as subsidy. According to the Senator, between 2006 and 2015, NNPC also imported fuel the way oil marketers import fuel into the country and collected subsidy disbursements on the imported fuel.

Sen. Dino Melaye representing Kogi west speaks on corruption in Oil Sector.: https://t.co/yU9XVVYMRT via @YouTube

— Nigerian Senate (@NGRSenate) February 28, 2017