Nigeria’s parliament has called for a forensic audit after its report found that over the last decade, $25 billion (£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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