BudgIT : The Role of NNPC on the Imported Adulterated Fuel

Duke Oil, one of the suppliers that imported adulterated fuel into the country, is a subsidiary of @NNPCgroup registered in Panama - a country notorious for being a tax haven & an international hub for money laundering.

Others include MRS, Oando & Emadeb-consortium. 

Duke Oil, one of the suppliers that imported adulterated fuel into the country, is a subsidiary of @NNPCgroup registered in Panama - a country notorious for being a tax haven & an international hub for money laundering.

Others include MRS, Oando & Emadeb-consortium. 

Duke Oil has always been excluded from @NNPCgroup's monthly financial and operations report until January 2019, when it was added to other subsidiaries in their monthly report. 

This is also to note that @NNPCgroup last published its monthly financial and operations report in April 2021.

These reports are essential for building conversations on its activities and improving accountability in the oil and gas sector. 

NNPC continues to ensure that the operational details of its subsidiary, Duke Oil remains opaque to citizens, with NNPC going the extra mile of registering Duke Oil in Panama - a country notorious for being a tax haven and an international hub for money laundering.

NNPC awarded Duke Oil contract to lift 90,000 barrels of crude oil daily but it has no physical office in Panama or Nigeria for such operations. It uses the office of a law firm, Arias, Fabrega & Fabrega located at Bank of America Building, 50th Street, Panama.

In 2016 it was observed that the three refineries processed 1.42m metric tonnes of crude between August and December 2016. However, there are no financial records from the NNPC of this in its reports. 

There is always a discrepancy between actual volume of products produced at our refineries & volume evacuated by PPMC; with no record kept to account for the gap in its report. 

Source: BudgIT Twitter Handle, Saturday February 12, 2022.

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