Nigeria MPs want $25bn spent to fix refineries probed

A parliamentary report found the refineries are working at less than 30% capacity

Nigeria’s parliament has called for a forensic audit after its report found that over the last decade $25bn (£20bn) had been spent on trying to fix the country’s dilapidated oil refineries.

Despite the enormous cost it found they were working at less than 30% capacity.

This news comes as the price of fuel has more than doubled in Nigeria after the new president, Bola Tinubu, announced the scrapping of a fuel subsidy.

Due to the lack of refinery capacity, Africa’s biggest oil producer has for many years exported its crude oil and re-imported petroleum products.

Next month, a vast refinery built by the prominent businessman, Aliko Dangote, is meant to start production.









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