Nigeria’s parliament has called for a forensic examination after a report revealed that $25 billion (£20 billion) has been spent trying to repair the country’s outdated oil refineries over the last decade.
Despite the tremendous expenditure, it was discovered that they were only operating at less than 30% capacity.
This revelation comes as the price of fuel in Nigeria has more than doubled since the new president, Bola Tinubu, announced the elimination of a fuel subsidy.
Africa’s largest oil producer for many years exported crude oil and reimported petroleum products due to a lack of refinery capacity.
A massive refinery built by famed billionaire Aliko Dangote is set to begin production next month.
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