Nigeria’s senate to probe NNPC’s $3.5 billion fuel subsidy fund

Nigeria’s senate to probe NNPC’s $3.5 billion fuel subsidy fund

ABUJA – Nigeria’s upper house of parliament plans to investigate a $3.5 billion fuel subsidy fund at state-oil firm NNPC, lawmakers said on Tuesday.

The upper house claims NNPC used the fund to subside the price of imported petrol without the house’s approval, the lawmakers said.

A spokesman for NNPC said the oil company would await a decision from lawmakers and then decide how to respond.

“We have to call for the resolution (by the Senate), analyze it and respond accordingly,” he said.

(Reporting by Camillus Eboh; Writing by Chijioke Ohuocha; Editing by Susan Fenton)


Published at Tue, 16 Oct 2018 10:37:26 -0700

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