It was a budget defence turned sour yesterday as the Senate Committee on Industry, Trade and Investment grilled the minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, over his ministry’s allocation of N42billion to a “private company” as an entity of the federal government in the 2019 budget.
Because of the controversy surrounding the N42billion allocation to the company, the committee demanded further clarifications from the minister before considering the ministry’s real budget. According to the committee chairman, Senator Sabo Mohammed , the real name of the disputed company is Nigeria Sez Investment Company Limited and not Special Economic Zone Company as presented by the minister.
The discovery angered the senators, who consequently rejected the N15.633 billion 2019 budget proposals of the Ministry of Industry, Trade and Investment tabled before the committee. The minister, in his response, said that the company was established through a presidential initiative and that approval was given to it at a cabinet meeting in May 2018.
Tasked on the owners of the company, the minister said that the federal government and other shareholders owned it.Senator Mohammed insisted that document obtained by his committee from the CAC containing information on how the company was registered, showed that its real name is Nigeria Sez Investment Company Limited and not Nigeria Special Economic Zone Company as contained in the documents presented by the minister.
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