Subsidy: Okonjo-Iweala wants those indicted punished

Finance Minister Ngozi Okonjo-Iweala said yesterday that those indicted by the House of Representatives report on fuel subsidy must be punished to avoid a regime of impunity.The report, now before the House, indicted top government officials for complicity in the mismanagement of more than N1 trillion in 2009-2011.She said the Federal Government was yet to receive the report but assured that it would be acted upon when it is received.Okonjo-Iweala spoke at the ministerial press briefing marking President Jonathan's one year in office in Abuja.She emphasized that 'there should be no impunity,' adding 'at the beginning we talked about smuggling of fuel from Nigeria borders which is all part of the problems. The House of Representatives report has not gotten to us and when we finally get it, we will act on it.'She said apart from the National Assembly probe into the oil sector, the ministry of finance had undertaken a self cleansing initiative ordered by President Jonathan which led to the sacking of the auditors engaged by the ministry.Okonjo-Iweala denied issuing threat of resignation if fuel pump price was not kept at N141 per litre.She said Nigeria's recurrent expenditure was increased to about 74.4 percent from 65 percent (about 9.4 increase) within the period of 2006 and 2011.
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