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

Posted by Grand News | 17 October 2018 | 1,270 times


Nigeria Senate During Plenary

The Senate in Nigeria 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.

 News Express, quoting Reuters, reported that 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.  (News Express)

 


Source: Grand News

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