Members of the Senate Committee on Appropriations on Thursday took the Minister of Finance, Wale Edun to task by demanding detailed explanations on savings from fuel subsidy removal and how the proceeds were being spent.
At a resumed hearing of budget defence at the National Assembly, Edun, who doubles as the Coordinating Minister for the Economy, could not immediately provide answers to the barrage of questions thrown at him by members of the committee.
The Minister was apparently unprepared for the questions as Senator Abdul Ningi (PDP Bauchi Central) was unsparing in grilling the Finance Minister.
Ningi started by asking how much the government realised from fuel subsidy removal and how much of it was spent in the 2024 fiscal year.
Continuing, Ningi asked, “What is the budget performance achieved for the 2024 fiscal year, particularly in terms of capital expenditure?
“We haven’t heard from the Minister how much has been saved from the removal of fuel subsidy and how much has been expended .
“We also haven’t heard from the Ministers about debt servicing. How much have we actually used to service our debts in 2004?
“How much are we expecting to spend to service debts in 2005? Finally, will the Minister of Finance guarantee that the extension of the capital component of the 2024 budget to June 30, 2025 give the desired results in terms of implementation that has a very low percentage now ?”
Apparently unsettled by the questions, the requested the committee to accord him a close door session for detailed response to the questions.
Edun said, “Are we in a closed door session? If we are not in a closed door session, l will humbly seek for that for detailed explanations on the questions asked.”
The chairman of the Senate committee, Olamilekan Solomon Adeola granted the minister’s request by asking journalists covering the event and others to leave the hearing room.
Neither the Finance Minister nor the chairman of the committee was willing to speak with journalists after the close session which lasted for more than one hour.
The Finance Minister was accompanied to the hearing by the Minister for Budget and National Planning, Atiku Bagudu and the Director General of the Budget Office, Tanimu Yakubu.
Others at the session were the Minister of State for Finance, Doris Uzoka-Anite, the Accountant General of the Federation, Oluwatoyin Madein among other top officials of the Finance Ministry and the Budget Office.
