Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala
By Omololu Ogunmade
The Senate Joint Committee on Petroleum Resources (Down Stream) Appropriation and Finance has summoned Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, her Petroleum Resources counterpart, Mrs. Deziani Alison-Madueke, and Governor of Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, to
appear before it on November 3 and 9, respectively over the recent rise in subsidy on petroleum.
A letter inviting the Federal Government officials by the committee also asked the invited officials to appear before the lawmakers on the scheduled dates with a written brief containing the complete procedure for administration of subsidy, the source of the fund as well as the reason for the marginal rise in subsidy in the latter part of this year.
Also summoned are the Chief of Naval Staff, Vice Admiral Ola Ibrahim; Minister of Federal Capital Territory (FCT), Mallam Bala Mohammed; Comptroller-General of Customs, Mr. Inde Dikko; and Group Managing Director of National Petroleum Corporation (NNPC), Mr. Austin Oniwon.
Others are Managing Director of the National Ports Authority (NPA), Mallam Omar Suleiman, and the Executive Director of the Petroleum Products Pricing and Regulatory Agency (PPPRA), Goody Egbuji.
The Senate’s investigation was propelled by the geometric rise in the subsidy spent on petroleum this year, especially in the recent times when compared with what was spent in the early part of the year.
Whereas N240 billion had been budgeted to be spent on oil subsidy this year, the Federal Government is said to have so far spent N1.5 trillion as at August, contrary to budgetary provisions by the National Assembly.
According to the letter, the committee’s invitation was sequel to the mandate given to it by the Senate on September 24 following a motion on “Investigation into the Current Fuel Subsidy Management.”
The committee had in his letter, explained that in its commitment to get to the root of the matter, it had resolved to summon the officials to appear before it on the respective dates stated in their letters.
It also said ahead of the meeting, the summoned officials should send 35 copies of their briefs each to the Clerk of the Senate Committee on Petroleum Resources (Downstream) on or before October 31.
The letter reads: “The Senate at its sitting on Wednesday 12, September, 2011 considered the motion on investigation into the current fuel subsidy management and mandated its joint committee on Petroleum Resources (Downstream) Appropriation and Finance to investigate the operations of fuel subsidy scheme.
The letter reads: “The Senate at its sitting on Wednesday 12, September, 2011 considered the motion on investigation into the current fuel subsidy management and mandated its joint committee on Petroleum Resources (Downstream) Appropriation and Finance to investigate the operations of fuel subsidy scheme.
“The joint committee in carrying out its mandate resolved to request your initial reaction in a written brief and to invite you to meet the committee. Your brief should explain the entire procedure for administering the subsidy; sources of the fund et cetera and why there has been unprecedented rise in quantum of subsidy in the latter part of this year than we had at the beginning.
“This written brief (35 copies) should reach the Clerk, Senate Committee on Petroleum Resources (Downstream) Room SB 09 Basement, Senate Wing, White House, National Assembly Complex, Abuja on or before Monday 31st October, 2011.”
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