ABUJA – Nigeria’s state oil company, Nigeria National Petroleum Corporation (NNPC) paid N216 billion ($707.4 million) in fuel subsidies in 2017 illegally, according to a Senate probe report released on Thursday.
The country’s upper legislative house confirmed in the probe report that NNPC made the payment without proper authorization and didn’t seek their approval.
They therefore ordered a halt with immediate effect to further expenditure of any sort on fuel subsidies.
Our attempt to get NNPC’s official reaction to this report has not been successful.
However, we are following up on all developments on this subject and will keep you updated.