by ‘Ifreke Inyang

The Co-ordinating Minister of Nigeria’s economy, Ngozi Okonjo-Iweala this afternoon faced the Fuel Subsidy Probe at the National Assembly. She came up immediately after Olisa Agbakoba and Farouk Lawan introduced her as the Co-ordinating Minister of the Economy.

However, when she began to speak, she stated categorically that: “I speak as Minister of Finance.”

Here are quotes from most of the answers she provided:

“We are really interested in finding out the facts at this subsidy issue – esp the corruption. We must get out the truth.”

“We need to clear out this mess.”

“Subsidy was seen as part of NNPC cost of operation.”

“The ministry of finance under me will not defend any corruption by any person. We support any effort to get the truth.”

“One has to admin that there are elements of the costs – eg – demurrage – that are not efficient.”

“Once we remove the ineffiencies the price will come down.”

“Whatever the case may be, there will be gap btw the amt it costs to bring in the refined fuel and how much it is sold at pump – N74.”

“And that’s what the ministry of finance pays per litre to Marketers via PPPRA .”

“The reason last year’s subsidy was paid despite 249b provision was bcos 2010’s budget was based on an assumption dat der wud be deregulation.”

“Due to unpredictability of int’l prices, actual subsidy to be paid is unpredictable. So the actual amouint is not certain.”

“It depends on price of dollar, international price etc. All we have is projections.”

“The consumption of 39million underpins the payment that the ministry paid last year .”

“We’ve paid for abt 35m litres of PMS and about 10m litres of kerosene.”

“We want to ensure this matter is sorted out. We want to clean out any corruption or misuse of resources re my ministry.”

“On the issue of addition revenue opportunities, Olisa Agbakoba is absolutely right.”

“I want to repeat what I said earlier: The country is not broke; the country can run.”

“The budget was based on proceeds from subsidy removal and it will be brought to the National Assembly for approval.”

“I didn’t know oil marketers would get sympathy from anyone. I thought we were all against them.”
“If there is any agency with something to hide, please ask them. We have been completely open about what we know.”

“I’m not aware that we have attended any meeting of the PPPRA Board. Let me ask the permanent secretary.”

@NOIweala: On the question of the ministry of finance being a sitting member of PPPRA, we don’t know anything about that. I will go back and check.

“I would really like to know if you have any evidence that I gave the advice to remove the fuel subsidy on Jan 1.”

“I am a Nigerian. I love my country. That is why I came home to do my best for my country”
“It it wrong for me to come home and serve my country? No one should be too big or too small to serve her country”

@NOIweala: This is my country; and I love my country. I didn’t come back to peddle any foreign institution’s policy. I came here to serve.