The House of Representatives Committee on Finance has demanded more explanation from the Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala on the state of the economy.
It said the minister’s responses to the 50 questions the committee asked her on the shape of the economy grossly fell below expectation , insisting that she must address all the issues raised. The committee stated this in a statement by its Chairman, Hon. Abdulmumin Jibrin.
The committee had in December, 2013 handed a 50 written questions to Okonjo-Iweala on the state of the economy. The minister submitted her responses which covered over 120 pages to the committee on January 15. The committee is billed to hold a public hearing on the economy between March 3 and 6, 2014.
Jibrin’s statement reads: “Your responses to the 50 questions we raised to ascertain the true state of our economy dated January 15, 2014 was received and carefully analyzed by the committee.
“Having gone through your responses, the committee noted that some questions were either not answered, partially answered, outrightly ignored or completely misunderstood.
“The committee further noted glaring missing gaps in the responses, absence of supporting proofs to assertions and lack of relevant documents to back up the presentation as is the practice in any legislative oversight or investigation.”
“Many data and statistics provided were inconsistent with subsequent information provided while answering other questions. Also noted were the wide ranging comparison you made with other advanced and developing countries while responding to some questions but failed to apply the same in some cases that obviously require such approach. In some instances, you abruptly referred the committee to relevant agencies for clarification.
“The committee is surprised at that because of its conviction that if all the questions raised are beyond the competence of the Minister of Finance, it is certainly not beyond the competence of the Coordinating Minister for the Economy to the extent of information you must have in your possession unless you say otherwise.
“In view of the above and ahead of the investigative hearing on the state of the economy, the committee is obliged to forward to you additional observations and requests to be submitted to the committee not later than February 20, 2014.”
It said: “Your responses this time and submission of the supporting documents are expected to put issues in clearer perspective to enable the committee conclude preparation for the hearing. The committee has scheduled an investigative hearing to give you the opportunity to explain and defend your submission before the committee and enable Nigerians to participate and make their contributions to this issue.”
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