The federal government illegally diverted $1.05 billion (N378 billion at N360 to a dollar) sourced from the Nigerian Liquefied Natural Gas (NLNG) dividend funds to secretly fund subsidy payment on petroleum products, PREMIUM TIMES can report today.
The diversion details are coming amidst revelations from accusations the Nigerian National Petroleum Corporation (NNPC) has a $3.5 billion subsidy fund it is spending without appropriation by the National Assembly.
In October, a motion by Biodun Olujimi, (Ekiti-PDP) had triggered debates in the National Assembly on the purported $3.5 billion fund alleged to be managed by the state oil company.
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The diversion details are coming amidst revelations from accusations the Nigerian National Petroleum Corporation (NNPC) has a $3.5 billion subsidy fund it is spending without appropriation by the National Assembly.
In October, a motion by Biodun Olujimi, (Ekiti-PDP) had triggered debates in the National Assembly on the purported $3.5 billion fund alleged to be managed by the state oil company.
Read More
