Finance Minister requests closed-door session over fuel subsidy proceeds scrutiny
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, requested a closed-door session during the 2025 budget defense at the Senate, following intense questioning about the proceeds from fuel subsidy removal.
During the session, lawmakers, led by Senator Abdul Ningi, pressed Edun for detailed explanations about the utilization of funds saved from the removal of the fuel subsidy in the 2024 fiscal year.
“What is the budget performance so far for the 2024 fiscal year, particularly in terms of capital expenditure?”
“How much has been saved from the removal of the fuel subsidy, and how much has been spent?”
“How much was used for debt servicing in 2024, and how much is projected for 2025?”
“Will the extension of the capital component of the 2024 budget to June 30, 2025, achieve the desired results, given the current low implementation rate?”
Faced with these inquiries, Edun appeared unsettled and responded, “Are we in a closed-door session? If not, I humbly request one to provide detailed explanations on these matters.”
The Chairman of the Senate Committee, Senator Olamilekan Adeola, granted the request, directing journalists to leave the room before continuing the proceedings behind closed doors.
In related developments, the Senate Committee on Information and National Orientation grilled the Director General of the National Orientation Agency (NOA), Mallam Lanre Issa-Onilu, and the Director General of the News Agency of Nigeria (NAN), Ali Mohammed Ali.
The NOA DG was instructed to re-draft and resubmit the agency’s 2025 budget proposal, while the NAN DG was tasked with addressing discrepancies in the implementation of the 2024 budget
(AFRIPOST)
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