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Business News of Tuesday, 9 August 2022


Petrol Subsidy: Reps summon Finance Minister, Zainab Ahmed

Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, has been summoned by the House of Representatives to provide all documents relating to subsidy claims from 2013 to date.

Rep Ibrahim Aliyu, Chairman, Special ad hoc committee investigating Petroleum Subsidy regime, said this when Mr Stephen Okon, Director Home Finance in the ministry, appeared before it in Abuja on Tuesday.

The Chairman of the committee gave the minister Aug 16 to make herself available with all the relevant documents in subsidy claims.

He said the minister must answer to the total amount released from the consolidated revenue account as subsidy payment from 2013 to date.

According to him, the breakdown of beneficiary companies that received subsidy payments from the consolidated revenue account must be submitted before it.

The Chairman said the statement by the minister recently that the country will require N6.7 trillion for service subsidies is worrisome.

He said it was imperative for the minister to appear before the committee to explain certain actions, adding that the subsidy would be borrowed for Nigerians to enjoy.

Okon added that the issue was a very serious one that required the concern of everybody, adding that the committee was holding trust for the citizenry.

He, however, said he had to appear because the ministry did not want to pass information that was not properly processed before the committee.

Okon said he came to plead for an extension of time, adding that he was not mandated to make any presentation before the committee.

He said the ministry would love to ask for additional time to collate the information required before the committee.