Senate to probe NNPC’s $3.5bn fuel subsidy fund

News Express |17th Oct 2018 | 1,281

Senate during plenary

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), analyse it and respond accordingly,” he said. (Reuters)

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Retrieving full detail for senate to probe nnpcs 35bn fuel subsidy fund...

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