The Senate has expressed deep concern over the low remittances to the Federation Account by ministries, departments, companies (MDAs), and government-owned enterprises (GOEs) in 2024, regardless of vital income era.
At an interactive session in Abuja on Monday, Senator Sani Musa, Chairman of the Joint Finance Committee of the Senate and Home of Representatives, highlighted the rising disparity between the revenues generated by these our bodies and the quantities remitted to the federal treasury.Senator Musa described the pattern as a severe problem to Nigeria’s fiscal well being.
“This pattern undermines the federal government’s capability to fund vital infrastructure and social companies, elevating considerations about inefficiency, mismanagement, and attainable income leakages,” he stated.
The interactive session concerned representatives from key MDAs, together with the Nigeria Customs Service (NCS), Federal Highway Security Fee (FRSC), Joint Admissions and Matriculation Board (JAMB), Nigeria Immigration Service (NIS), Nigeria Communications Fee (NCC), and the Fiscal Accountability Fee (FRC).
Musa burdened the committee’s accountability to make sure transparency, accountability, and effectivity within the monetary operations of MDAs. He famous that the Senate would proceed scrutinizing income projections and remittance practices to establish loopholes and suggest actionable options.
“We’re dedicated to reversing these troubling patterns and constructing a stronger, extra accountable fiscal framework for Nigeria,” he stated.
The senator urged all stakeholders to method the discussions with honesty and a shared dedication to bettering the nation’s fiscal operations.
“Allow us to method these duties with a shared dedication to transparency. Correct knowledge and complete information should be offered for the good thing about Nigerians. Even areas not but offered needs to be laid naked to handle these points holistically,” Musa added.
The assembly, aimed toward assessing MDAs’ income projections for 2025, comes as Nigeria continues to grapple with financial challenges and the necessity for improved fiscal accountability.
The Senate has pledged to carry MDAs accountable and be certain that leakages are plugged to reinforce the federal government’s capability to ship on its mandates.
The result of this interactive session and the next suggestions are anticipated to form the trajectory of fiscal governance in 2025, fostering higher accountability in Nigeria’s public finance system.
