For allegedly including a company deemed as private into its 2019 budget proposals,the Senate Committee on Trade and Investment has rejected the ministry’s N15.63 billion budgetary requests.
The Committee’s Chairman, Sen. Sabo Mohammed said the committee was disgusted by the ministry’s attempt to ‘smuggle’ in item 2 on page 7 of the budget booklet presented by the ministry.
The committee chairman backed up the allegation with a document from the Corporate Affairs Commission (CAC) which shows that the company was registered as a private company.
“Liability of the members are limited by share, which gives federal government 25 per cent and 75 per cent to private individuals.”
The item 2 that is said to be an illegal Special Economic Zone Company, is cited as one of the 17 agencies under the ministry, when the Minister of Trade and Investment Okechukwu Enelamah appeared for budget defence on Monday.
The ministry at the budget defense, presented the booklet containing 2019 budget proposals for all agencies under the ministry.
Consequently, he has requested the minister to send a detailed written explanation on how the company got into the appropriation list, its management staff list and its staff strength as well as statement of account before consideration of 2019 budget proposal.
Responding, Enelamah said the company was established through a Presidential Initiative and its approval was given at a Cabinet meeting held in May 2018 .
“One of the areas that this government has focused on is infrastructure. The second area is industrialisation and the two have something in common.
“If the government tries to do it alone, it would be extremely tasking.
“So the President directed that we should bring other partners that can combine with whatever monies we have to build world class infrastructure which led to the establishment of the company in partnership with other investors,” he said.
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