Saturday, May 25, 2019

Nigeria senate to probe state oil firm over Nigeria LNG funds

November 6, 2018

Nigeria's Senate voted on Tuesday to probe the state oil firm's alleged withdrawal of $1.05 billion from gas company Nigeria LNG.

The Premium Times newspaper reported on Monday that the Nigerian National Petroleum Corporation (NNPC) had used proceeds from Nigeria LNG - a venture between the state oil firm, Royal Dutch Shell (RYDAF), Total and ENI - to fund purchases of, and subsidies for, fuel during a shortage in early 2018.

NNPC was not available for immediate comment.

(Reporting by Camillus Eboh; writing by Paul Carsten; editing by Jason Neely)

Related News