Reps raise alarm over plot to sink Nigeria through fuel subsidy
THE House of Representatives on Monday raised the alarm over alleged plans to sink the country through the controversies trailing the fuel subsidy
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THE House of Representatives on Monday raised the alarm over alleged plans to sink the country through the controversies trailing the fuel subsidy
Neighbouring countries prefer purchasing smuggled petrol from Nigeria rather than importing fuel into their countries.
Anyone may smuggle trucks of petroleum products out of Nigeria with just N5million, according to an executive of the Nigerian National Petroleum Company Limited (NNPC). This information was provided on Monday by Umar Ajia, the Chief Financial Officer of NNPC Limited, who was testifying before a House of Representatives committee looking into fuel subsidies in Nigeria, Premium Times reports.
The NNPCL official said some West African and Central African countries have stopped importing petroleum products but depend solely on smuggled products from Nigeria.
Group Managing Director of NNPC Limited, Mele Kyari, is set to present the position on the ongoing investigative hearing into fuel subsidy