October 16, 2018 / 5:29 PM / a month ago

Nigeria's senate to probe NNPC's $3.5 bln fuel subsidy fund

ABUJA, Oct 16 (Reuters) - Nigeria’s upper house of parliament plans to investigate a $3.5 billion fuel subsidy fund at state-oil firm NNPC, lawmakers said on Tuesday.

The upper house claims NNPC used the fund to subside the price of imported petrol without the house’s approval, the lawmakers said.

A spokesman for NNPC said the oil company would await a decision from lawmakers and then decide how to respond.

“We have to call for the resolution (by the Senate), analyse it and respond accordingly,” he said.

Reporting by Camillus Eboh Writing by Chijioke Ohuocha; Editing by Susan Fenton

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