On Monday, the House of Representatives reiterated its resolve to ensure prompt remittance of all revenues accrued to the Federation Account in line with the provisions of the 2024 Appropriation Act.
Chairman of the House Committee on Finance, Hon. Abiodun James Faleke, gave the assurance in Abuja during the quarterly meeting with heads of major revenue-generating MDAs.
Some of those invited by the heads of MDAs who appear in person are the Accountant General of the Federation (AGF), Mrs Oluwatoyin Madein, and the Director General of the Debt Management Office (DMO), Ms. Patricia Onuoha.
Others are representatives of the Ministry of Finance Incorporated (MOFI) and the Fiscal Responsibility Commission (FRC).
Hon. Faleke, who expressed excitement over the successes recorded by the Committee so far, affirmed that previous legislative action has yielded positive results.
He said, “The essence of our revenue monitoring is on a quarterly basis. When we passed the budget here, the Appropriation, we wanted to be sure as a committee that we had enough, and we were monitoring the agencies that were supposed to generate those funds that we had put in the Appropriation Bill.
“And Appropriation is a law, and the moment that law is passed, all agencies are compelled to obey.
“And so, we monitor to ensure that we have revenue on a quarterly basis. So where we have issues, we can quickly address them.
“We don’t want at the end of the year that we don’t have the money to fund our budget.
“We started it as a committee, and it has actually assisted the country in our revenue generation,” Hon. Faleke noted with excitement.
Other revenue-generating MDAs expected to appear before the Committee include the Comptroller General of Nigeria Customs Service (NSC), the Revenue Mobilisation and Fiscal Responsibility Commission, the Nigerian National Petroleum Corporation Limited (NNPCL), and the and the Federal Inland Revenue Service (FIRS), among others.
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