The Petrol Subsidy Fraud That Continued After Subsidy Removal

Eighteen months after the removal of Nigeria’s petrol subsidy, a Granite News investigation has found that elements within NNPC Limited continued to claim and receive subsidy payments totalling N280 billion through false documentation and backdated claims.

The fraud was made possible by the complexity of the subsidy removal process and the absence of real-time reconciliation systems.

We traced specific payment flows showing how claims for subsidies were submitted and paid for products imported weeks or months after the official termination of the subsidy regime.

The EFCC has confirmed it received a referral on these matters and that a preliminary investigation is underway.

Written by

Kunle Balogun