Business

Budget: Senate Committee Walks Out Trade Ministry Officials Over Missing N177 Million

Published

4 years ago

November 8, 2021

The Ministry of Trade and Industry on Monday could not account for the sum of N177 million being revenue generated by its department of Weighs and Measures, a critical revenue generation of the agency.

The officials who represented the Minister at the 2022 budget Defence at the Senate Committee on Trade and Industry stage managed a document they couldn’t explain on the budget performance for 2021 before seeking approval for 2022.

The failure to explain how the sum of N177 million angered the Committee, wondering what would have happened to the fund between January and September despite the 2021 budget approval for capital and recurrent for the agency.

The Senate Committee on Trade & Investment on Monday walked out representatives of the Ministry for presenting an “unreadable document” containing a N1.6 billion projection as its budget proposal for 2022.

The Committee also described the Ministry’s action as vague documentation, accusing it of misappropriating N177 million retention from its 2021 internally generated revenue (IGR).

Vice Chairman of the Committee, Senator Kola Balogun called for an end to impunity while he described the Ministry’s budget document as unreadable and an attempt to confuse Senators.

“These documents are not readable. It is very difficult for us to read it. It is also very difficult for us to make any sense out of it I think the Ministry should do better than this”, he said, adding that the revenue realized from the Department of Weights and Measures was slim.

“N500 million is too low from Weights and Measure. We were expecting that it should be tripled”, he said.

Lamenting on the situation, a member of the Committee and Senator representing Taraba Central, Yusuf Abubakar Yusuf, said the document presented by the Minister and her team clearly suggested that funds retained by the Department of Weights and Measures were misappropriated because they were not captured in figures.

According to him, “You have a projection of N1.6 billion, you realized N1.19 billion”, requesting that the Department of Weights and Measures furnish the Committee on how the money was utililsed.

“It is not what they have spent. Do they have the appropriation for what they have spent? Because all these things are happening every year. Once they retained revenue, the just go and spend it without referring to the committee of appropriation.

“For me, it is variation of the approval of the national assembly. If you don’t do that, for me, it is misappropriation,” he said.

The Minister of State for Trade and Investment, Hajiya Aisha Abubakar had earlier told the Senator Saidu Alkali led- Committee that the Ministry projected to generate the sum of N1.6 billion in 2021, part of which N1.19 billion was already realised between the month of January and September 2021.

She referred the Committee to the Permanent Secretary of the Ministry to explain how the twenty percent retention was utililsed.

In a swift reaction, the Permanent Secretary urged Senators to excuse him as he only resumed resumed three months ago which he doesn’t have adequate information to furnish Senators.

Meanwhile, both Director Finance and Administration and Director, Weights and Measures could not explain how and what exactly the money was used for, as they were both interrupted by the Chairman of the Committee, requested that they give details of how the N177 million was expended.

Senator Alkali queried: “this is performance. You are supposed to bring the details with underlying items.

“What we are saying is, how did you spend the 20% you retained as percentage from the revenue you realised? Where are the details? This is what we are asking. How did you expend the amount you retained under your department? You have indicated here, this you have realised, this is what you have remitted to CRA and this is what you have retained. So we are asking, how did you spend the amount you retained?.

“You are not supposed to tell us this is how it is spent. It is supposed to be clearly written under a subject. The Ministry is supposed to have it under a subject, which the details are not here.

“Who give you the authority to spend N177 million and how did you spend it because you are supposed to get the approval of the National Assembly”, he further queried.

(DAILY POST)

Related Topics:Senate Committee Trade Ministry

Up Next

Nigeria’s Budget 2022 And Debt Service Implication [ANALYSIS]

Don't Miss

CMB, Ayinde-Tukur Bag Awards At National Cooperative Summit

Comments

Business

Dangote Fuel Sells Cheaper In Togo Than In Nigeria – Falana Laments

Published

18 hours ago

September 15, 2025

Editor

Human rights activist Femi Falana, SAN, has lamented that fuel taken from Dangote is cheaper in Togo than in Nigeria.

Falana expressed his concerns on Sunday while responding to questions in an interview on Politics Today, a programme on Channels Television.

He urged the federal government to review the proposed 5 per cent fuel surcharge and ensure that further hardship is not imposed on Nigerians.

“I guess the government wants to go back to the drawing table and ensure that it is not accused of multiple taxes or double taxation because consumers will pay VAT for buying fuel. They will now put an additional 5 per cent tax.

“I think this is what Nigerians are complaining about. And from what we just read today is that the Dangote fuel taken from Nigeria is now cheaper in Togo than in Nigeria I think about 65 naira.

“So, the government will have to review these developments (the proposed 5 per cent fuel surcharge) and ensure more hardship is not imposed on Nigerians,” he said.

Business

Falana Reveals Those Behind Subsidy Removal

Published

18 hours ago

September 15, 2025

Editor

A Senior Advocate of Nigeria, Femi Falana, has once again criticised President Bola Tinubu’s removal of the fuel subsidy.

Speaking in an interview on Sunday’s Politics, a programme on Channels Television, the human rights activist stated that no country in the world has completely abolished subsidies.

“There’s no way you can remove subsidy completely. No country in the entire world has abolished subsidies completely.

“Even leading Western countries like the United States, the United Kingdom, France and others subsidise electricity, agriculture, and many aspects of the lives of their people.

“So, when the Nigerian Government said it was removing subsidies, as a matter of fact, if I must say this, it was the World Bank and the International Monetary Fund, IMF, that insisted that the government must remove all subsidies,” he said.

Business

‘We Like Greek Gifts,’ Nigerians Blast NUPENG Over Dangote’s Fuel Price Reduction

Published

2 days ago

September 13, 2025

Editor

The decision of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to warn Nigerians against accepting Dangote Refinery’s recent fuel price reduction has drawn heavy backlash on social media, with many citizens mocking the union and embracing what they described as “much-needed relief.”

Dangote had announced lower petrol pump prices in several states alongside a new scheme to deploy compressed natural gas (CNG) trucks directly to filling stations, a move expected to reduce logistics costs.

But NUPENG dismissed the offer as a “Greek gift,” alleging that the refinery was undermining workers’ rights, sidelining the union, and pushing drivers into a rival association.

However, netizens have lambasted the union, querying that during hard times, NUPENG has never supported the masses.

On X (formerly Twitter), Nigerians quickly turned NUPENG’s warning into a trending topic, using humour and sarcasm to lampoon the union.

Oloye Somorin Osifeso (@OloyeSomorin) wrote: “We like Greek gifts in my garage.”

Just Jude (@JustJude) asked bluntly: “Is it your deception?”

Oladele (@Oladele) quipped: “As Dangote Refinery dey offer Nigerians Greek gift, why can’t NUPENG too offer Nigerians French gift?”

Agbalaka (@Agbalaka) queried: “Can they tell Nigerians what exactly they are fighting about?”

CBN Gov Akinsola (@Akinsola) joked: “Then give us Trojan gift now 😆. Man do man. Man no go vex.”

Omobalaji (@Omobalaji) teased: “NUPENG, oya surprise us with Arabian gifts.”

Habdulakeem Bahdmus (@BahdmusHabdulakeem) added: “If Dangote is showering Nigerians with Greek gift, NUPENG can also set up a Roman gift now.”

Femi Yekinni (@FemiYekinni) steered it back to reality: “We thank them for their advice. Now, @DangoteGroup pls how do we schedule deliveries to Badagry?”

Curtis Abbi (@CurtisAbbi) slammed the union: “Nigerians will manage the Greek gift. @officialNUPENG9, what gift have you given Nigerians in your entire years of existence? NUPENG should offer Nigerians their own Somalian gift 🤣.”

Akin Adejola (@AkinAdejola) echoed the sentiment: “LOL. I can bet Nigerians don’t mind the gift. NUPENG should gift Nigerians same ‘Greek gift’ too if they have any goodwill. NUPENG is the enemy of progress in the oil & gas sector.”

Adeola Akinwande (@adeolarewaju9) criticised union leaders: “Does NUPENG remember Nigerians at hard times? They have all failed Nigerians the same way the @NLCHeadquarters has failed. They are living big on unionism and cashing out big time. Without unionism, some of their excos are nobody. They should stop the crocodile tears.”

Okunwa U. U. Azikiwe (@OkunwaUUazikiwe) argued: “Competition has created jealousy by the previous monopoly in the sale of fuel. They have lost control, and it is paining them that they are no longer in control. SMH!!!”

Solihull Abdulkareem (@SolihullAbdul) chipped in: “NUPENG or whatever, do you want the market to be monopoly? You’ve been doing what you want for many years. It’s time for change, just accept it and move forward.”

Temidayo (@Temidayo) asked: “It’s a lie. What benefits has your union provided for Nigerians? Middlemen syndrome has been room for corruption. Your association should go and buy shares in Dangote and work together to make Nigeria great.”

And LegalTech Sam Akanbi (@SamAkanbi) summed up: “Nigerians no longer want your Nigerian gift, we want the Greek gift. If you have a better offer, we’d abandon Dangote’s Greek gift and take yours. But for now, let the Greek gift go round.”

Recall that NUPENG earlier alleged that Dangote Refinery was forcing truck drivers to abandon its union for a rival group, the Direct Trucking Company Drivers Association (DTCDA).

The union also accused Dangote of undermining collective bargaining rights and violating a Memorandum of Understanding (MoU) signed under government supervision.

Dangote, however, denies the claims, insisting that union membership remains voluntary and that its delivery scheme is designed to cut costs and ease supply.

The federal government has intervened, with the Ministry of Labour and the Department of State Services mediating between both parties.