FG To Spend N6.2bn On Petroleum Bill Awareness Campaign!!!

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke

Federal Government planned to spend N6.201bn on an awareness campaign for the Petroleum Industry Bill.

A budget performance breakdown of the Ministry of Petroleum Resources for 2012 made available to the National Assembly Committees on Gas Resources and Petroleum (Downstream) on Thursday showed that the campaign would take place across the country.
Although the awareness began in 2010, it is expected to run until 2015.

The  figures show  that the sum of N110.87m has been released and expended so far, leaving a balance of N6.09bn.

Although N17.23m was earmarked for the project in 2012, details of the expenditure was not included in the document.

Meanwhile, the petroleum ministry was allocated N2.02bn in 2012 for capital expenditure, but only N820m was released.

Minister of Petroleum,  Diezani Alison-Madueke, while  appearing before  the joint committee, said the release represented 41 per cent of the capital allocation.

According to her, N759m was utilised out of what was released.

She noted that in spite of the poor funding, the ministry succeeded in reducing the volume of crude oil theft from 150,000 to 100, 000 barrels per day.

 The ministry has a 2013 allocation of N4.68bn, with personnel cost of N581.44m; overheads N544.7m and capital expenditure, N3.56bn.

The committee, however, expressed displeasure over the poor implementation of  the ministry’s projects and blamed the Ministry of Finance for non-release of funds.

Chairman of the committee, Senator Emmanuel Paulker, said the Minister of Finance should make funds available to the  ministry to allow for the tackling of the problem of oil theft.

He said, “If we have just 41 per cent right now, it means when the last quarter is released, the percentage performance will come down to 21 per cent.

“This should be a clear message to the Ministry of Finance to release  funds available to the agencies.”

Another member of the committee, Senator Mohammed Goje, said the Minister of Finance should tell Nigerians why a  ministry involved in bringing revenues to Nigeria would be starved of funds.

-Punch