Which public corporation was created in 1994 by the Abacha administration to rehabilitate national infrastructure using surplus petroleum revenue?
Answer and explanation
Correct answer: C. the Petroleum Special Trust Fund
- Step 1: Decree No. 25 of 1994 established the Petroleum (Special) Trust Fund (PTF) to channel proceeds from the increase in domestic fuel prices into roads, hospitals, and educational institutions. Step 2. Former head of state Major General Muhammadu Buhari was appointed executive chairman of the fund. Answer: the Petroleum Special Trust Fund. Why not the others: OMPADEC was established in 1992 by Babangida; NDDC was created in 2000 by Obasanjo; NDE was founded in 1986.
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