A report that is said to reveal that $6bn have been defrauded from the Nigerian fuel subsidy fund in the last two years is due to be released and debated in Nigeria’s parliament. Some of its findings have been leaked to the press, including the claim that 15 fuel importers received more than $300m two years ago without importing any fuel. Oil marketers and officials in the government of President Goodluck Jonathan are also believed to be among those who benefited from the subsidy fund. A number of them have taken out advertisments in local newspapers proclaiming their innocence.
Nigeria, despite being a major oil producer, does not have the infrastructure to produce refined oil and imports most of its petrol. The $8bn annual subsidy ensures cheap fuel for Nigerians. There were widespread demonstrations in January when the subsidy was removed without warning, prompting officials to partially restore it. The protests also led to the fuel sector probe that has uncovered these discrepancies.
The debate will be televised live.