Mismanagement and theft by top Nigerian officials involved in a corrupt fuel subsidy scheme cost the country I trillion Naira or $6.8 billion in three years, a parliamentary probe
found, calling on President Goodluck Jonathan to overhaul the state oil firm and ministry.
The House of Representatives Ad-hoc committee that investigated the implementation of the subsidy regime in the country, yesterday, recommended that the sum of N1,067,040,456,171.31 be refunded to the Federation Account by the Nigerian National Petroleum Corporation, marketers, companies that refused to appear before the committee as well as the Petroleum Product Pricing and Regulatory Agency.
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