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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

Nigeria: FG uses excess crude revenue to pay oil subsidy

Posted on 19 March 2010

From Allafrica.com: The Federal Government has started dipping its hands into the revenue accrued into the excess crude account to offset its pilling debt of oil subsidy owed marketers, Daily Trust investigation has revealed.

Earlier, it was thought that the Nigerian National Petroleum Corporation (NNPC) was paying the subsidy claims of marketers on government’s behalf………………………………..Full Article: Source


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