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Nigeria fuel subsidy graft cost $6.8 bln-parliament
ABUJA, April 19 |
ABUJA, April 19 (Reuters) - Mismanagement and theft by top Nigerian officials involved in a corrupt fuel subsidy scheme cost the country $6.8 billion in three years, a parliamentary probe found, calling on President Goodluck Jonathan to overhaul the state oil firm and ministry.
Nigeria tried to end gasoline subsidies on Jan. 1, but a week of public protests forced the government to partially re-instate the payments, seen as a massive drain on its budget.
The report filed late on Wednesday said the state oil firm, private marketers and the regulator owe a combined 1.07 trillion naira ($6.8 billion) in unpaid debts to the government and that the state oil firm owes oil trading companies some $3.5 billion.
It recommended the state oil firm be overhauled.
(Reporting by Camillus Eboh and Joe Brock; Editing by Tim Cocks and James Jukwey)
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