.Demands List of FG’s Investments in All MDAs from 2022
The House of Representatives Committee on Finance on Wednesday grilled the office of the Accountant-General of the Federation over the records of remittances of revenue to the federation account by the Ministries Departments and Agencies MDAs of the Federal Government.
The House Committee also had demanded the list of the federal government’s investments in all the over 900 government owned agencies and institutions.
Chairman of the House Committee on Finance Hon.James Faleke gave the ruling during the Medium Term Expenditure Framework and Fiscal Strategy Paper MTEF/FSP meeting of the committee with the Accountant-General of the Federation and other heads of agencies
He demanded that the senior official provides the House committee
with documents on MDAs remittances of revenue to the federation account from 2022 even as he also demanded the list of all investments of the federal government in all the government agencies and parastatals from the Ministry of Finance.
The All Progressives Congress APC lawmaker also said that from available documents to the committee, most of these agencies do not pay their statutory remittances of internally generated revenue to the federation account the law provides.
The House Committee also queried the withdrawal of N10 billion from the coffers of Nigeria Postal Service NIPOOST by the Ministry of Finance and why the Board of Director of the NIPOST Properties Ltd and the NIPOST Transport Ltd were register with personal names.
He stated that the House Committee on Finance interface with the agencies and stakeholders on government finances is ensure the passage of a realistic Medium-Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP) before the presentation of the 2024 annual budget.
He said: “The MTEF is the very basis of the annual budget which is itself the backbone of the implementation of the Federal Government’s plans and policies.
“As the representatives of the Nigerian people, a position which we occupy in trust for them, we owe Nigerians the onerous responsibility of delivering the democratic dividends to the door steps of our constituents in line with our campaign promises.
“We can only achieve them through the powers bestowed on us by the Constitution of the Federal Republic of Nigeria (Amended) i.e. oversight, representation and law making”.
Faleke also threatened that the House Committee will not accept such laxity on the part of MDAs in not negotiating the best for the country and its citzens.
He further submitted that the e $ 11 billion P & I D fiasco is still fresh in our minds where the whole country was almost held hostage to a fraudulent agreement adding that another agreement signed on behalf of the Government by NBET and Azura Power has committed payments of over $30m per month.
According to him, this agreement is dollar denominated and applicable even now in times of acute foreign exchange shortages.
The Committee he said is committed to ensure value for money is attained in all government agreements and our revenues have been reducing over the years due to decreases in oil revenues which used to be our major earner.
This continuous borrowing due to these budget deficits has ballooned our debt servicing payments to the sad situation where last year we spent over 95% of our revenues on debt servicing..
In her response to the questions posed to her by the chairman and some other committee members, the Accountant-General of the Federation Mrs Oluwatoyim Maidein said that series of efforts by government officials are on-going to shore up the government’s revenue.
She also stated that the strategies to improve the revenue of the federal government must be continuously worked upon by all relevant stakeholders
