NATIONAL NEWS
Senate Directs Accountant-General To Forward List Of FG Agencies Defaulting To Remit Revenues
*NNPCL, Customs, FIRS, Others, Will Not Spend Income Generated*
The Joint Senate Committee on the 2024-2026 Medium Term Expenditure and Fiscal Strategy Paper, has directed the office of the Accountant-General of the Federation to collate details of the remittances by revenue-generating agencies of the federal government, and the list of those that defaulted.
Chairman of the Committee, Senator Sani Musa, gave the directive at the ongoing public hearing of the committee.
Senator Sani Musa who said no federal agency would henceforth be allowed to spend revenues they generated, also asked affected MDAs to furnish the panel with details of remittances so far made this year.
The panel including the Committees on Appropriations; National Planning and Economic Affairs; and Local and Foreign Debts are engaging Heads of Federal Ministries, Departments, and Agencies on the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP).
Musa said, “The National Assembly is working hard to protect the economy of the country.
“The Nigerian National Petroleum Company Limited (NNPCL) for instance, is a Nigerian entity it must abide by the Nigerian rules, it must abide by the ground norms. When it is due to remit, it must do so.
“No agency of the government should come before us to say they are exempted from remitting revenues to the consolidated revenue funds.
“The Accountant General should take note of the agencies that had yet to remit their revenues to the CRF.
“You should liaise with the Committee’s secretariat so that we can find time to reconvene like this to sort out those issues.”
Musa was responding to a presentation by the Nigerian Institute of Legal and Advanced Studies and the Nigerian Maritime Academy on delayed remittances to the CRA.
He insisted that the MDAs should present a breakdown of their revenue collection and remittances from January to date to the committee.
He said MDAs were aware that any action in breach of financial regulations was a breach of the law.
He said agencies must work toward remitting the revenue due to the government upon collection without delay.
He also requested that all receipts of remittances be made available to the committee.
Musa raised issues of disparity of revenue projections and remittances based on presentations of the Nigerian Communication Commission (NCC) and presentation by Office of Accountant General for the Federation.
He also urged the Accountant General of the Federation to interface with MDAs for reconciliation of remittances made and revenue projections in the 2026-2027 MTEF and FSP.
He also requested a detailed breakdown of remittances arising from revenue collected from stamp duties by the MDAs.
Musa said there was a need for proper reconciliation of the remittances in line with the nation’s financial laws and the Fiscal Responsibility Act.
The Accountant-General of the Federation, Mrs Oluwatoyin Madein, said her office does engage the MDAs to reconcile their accounts and remittances made to the government in line with the financial laws.
Also, the Director-General of the Debt Management Office, Mrs Patience Oniha (DMO), while responding to a question on a new government loan request said Nigeria needs to challenge itself on revenue generation given its projection on debt services.
Among the MDAs that presented their revenue projections for the 2024-2026 MTEF and FSP were the Office of Accountant General of the Federation, (OAGF), Nigeria Maritime Academy, and the Nigerian Institute of Advanced Legal Studies.
Others are the National Oil Spill Detection and Response Agency (NOSDRA), Development Bank of Nigeria (DBN), Debt Management Office, Office
among others.
The Nigerian Communication Commission (NCC) Joint Matriculation and Examination Board (JAMB) and the Federal Mortgage Bank were asked to appear on another day for re- presentation of their expenditure and revenue projections.
Earlier, the Accountant General said, “I am here to make a presentation on the 2023 budget presentation.
“The office of the Accountant-General of the Federation is saddled with the treasury management of receipts and expenditures.
“In the area of revenue, we are earning the monitor, accounting, and remittances through collaboration and synergy of various agencies of the government that are critical in revenue generation.
“The office is equally looking at the MTEF that has been put together by the office of the budget and economic planning.
“I will highlight figures from 2020 to 2023.
From the federation account, in 2020 the budgeted revenue was N7.9tn, and the actual gross revenue was N8tn while the net distribution was N7.6tn.
“In 2021 budget was N9.2tn while the actual gross inflow was N9.3tn and the net inflow was N7.7tn.
“In 2022, the budget was N15tn, the actual revenue was N12.2tn, the net distribution was N8.6tn.
“In 2023, the Revenue projection was N13.7tn, as of October, the total revenue inflow was N12.4tn.
“Under the Stamp Duty, the budget for 2020 was N17.3bn while the actual was N119bn.
“In 2021, the budgeted amount was N16.8bn, while the generated amount was N33.94bn.
“In the year 2022, the budget stamp duties was N16.8bn while the generated amount was N53.5bn.
“In 2023, the budgeted amount was N44.46bn and the generated amount was N53bn.
“The IGR in 2020 was N871.3bn, while the actual amount was N532,9bn.
“In 2021, the budgeted amount was N1.06tn while the generated amount was N1.06tn. In 2022 the budgeted amount was N2.2tn while the amount collected was N1.39tn.
“In 2023, the budget was N2.6tn, while the actual amount was N1.42tn as of September 2023.
“We can only project IGR for 2024 and we put that on 20% markup of the budget of 2023 which is N3.1tn.”
Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar has underscored the urgent need for concerted global action to address the pressing challenges of climate change.
The Minister observed while speaking at the ongoing 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) in Dubai, United Arab Emirates.
Tuggar said that Nigeria is leading the fight against climate change in Africa by setting ambitious and realistic goals.
He said: “Nigeria has ratified its commitments through a Climate Change Act and a National Council on Climate Change (NCCC). Through these, Nigeria set ambitious, albeit realistic, goals, and I am proud to state that we have hit the ground running, transforming our commitments into tangible climate action.”
He emphasized the critical role of collaboration, innovation, and shared responsibility in combating the escalating climate crisis.
Tuggar also posited that “Nigeria is on track to deploy 100 Electric buses, next year with plans to increase to 1,000 E-buses, aiming to become the country with the largest electric mass transit fleet in Africa. This initiative will reduce emissions and indicate my administration’s commitment to catalyzing the market for green project deployments, job creation, and industrialization across critical sectors.”
The Minister while acknowledging the severity of the climate emergency, highlighted the impact of climate change on vulnerable communities and ecosystems across the globe.
He stressed the importance of upholding the principles outlined in the Paris Agreement, emphasizing the need for all nations to commit to ambitious and transparent climate targets.
He also reaffirmed the commitment of Nigeria to its nationally determined contributions, underscoring the nation’s dedication to achieving net-zero emissions by 2060.
Tuggar however called upon the international community to transcend political differences and work collaboratively towards meaningful and immediate climate solutions., expressing a resounding commitment to fostering international cooperation, encouraging innovation, and securing a sustainable future for generations to come.
He highlighted Nigeria’s support for initiatives that advance climate resilience, technology transfer, and capacity-building in developing nations, and emphasized the importance of financial commitments from developed nations to assist developing countries in their transition to low-carbon economies.
Abia State Governor Alex Otti of Abia State has reiterated that his government is focused on delivering good governance to the people of the State.
Governor Otti spoke on Monday when he met with a delegation of Bulgarian diplomats led by the Ambassador of Bulgaria to Nigeria, His Excellency, Yanko Yordanov.
In a statement from Kazie Uko, Chief Press Secretary to the Governor, Otti said that his government was very serious and focused on impacting positively the lives of the people of the state.
“The government we have in Abia State right now is very serious. We are focused on delivering good governance to our people, and good governance speaks to welfare, it speaks to healthcare delivery, it speaks to education, and of course security and economic well-being of the people, and we are single-minded in delivering those to our people,” he said.
Governor Otti, who said that his government was willing to partner with the Bulgarian government, stated that he was impressed with the areas the Bulgarian government had chosen to assist the State.
“I am very happy in the areas that you have chosen to intervene and to support us; food is everything and there’s no important security you will be talking about without talking about food security,” the Governor declared.
According to Governor Otti, Abia is blessed with good vegetation and boasts of agricultural products such as cocoa, oil palm, rubber, cashew, and maize among others.
“We are luckily blessed with good vegetation and naturally, we produce a lot of food. I believe that with improved seedlings and better technology and of course, the training you talked about, there is no better time to come to us than now. We are still at the drawing table,” he enthused.
Dr. Otti, widely acknowledged as the most performing governor among his peers, said his government would welcome a trade partnership with Bulgaria and access to the European market for products from AbiaState.
“I believe that this is the time we should begin to look at it as a serious business. We are happy and we are willing to work with you at any level that you want to make a success out of the land God has blessed us with and all products that can come out of it,” he said, adding that the State would submit itself to superior training and technology.
Earlier, the Bulgarian Ambassador to Nigeria, said the delegation was in the State to seek collaboration with Abia to boost agriculture, trade, education, and human capital development.
“In more concrete terms, the project we wish to bring to your attention will be offering comprehensive understanding about the need to develop, not only economic ties but also the people-to-people exchange,” Yordanov said.
He further explained that the proposed partnership would come with a training support package in agricultural technology and skills.
“Abia State is widely known as a State where all the opportunities exist. This is why my country and private investors desire to collaborate and develop a partnership with Your Excellency,” the Ambassador explained.
In attendance at the meeting with the Governor were some members of the State Executive Council, among whom were the Deputy Governor, Engr Ikechukwu Emetu; Secretary to the State Government, Prof Kenneth Kalu; Commissioner for Trade, Commerce, and Industry, Dr. ChimezieUkaegbu; Commissioner for Agriculture, Prof Monica Ironkwe and Commissioner for Education, Prof Uche Eme-Uche.
There was also the Special Adviser to the Governor on Trade, Commerce, and Industry, Chief Nwaka Inem, and Special Adviser to the Governor on Agriculture, Dr. Cliff Agbaeze.
,
Peter Obi, the Labour Party’s presidential candidate in the 2023 election, has urged Nigeria to compete with China in terms of production rather than delegation size to a specialised meeting of experts.
Obi blasted the waste and inappropriate imitation of a country painstakingly pulling its people out of poverty in a series of tweets on his X handle on Sunday in response to the growing big number of Nigeria delegates to the United Nations, COP28 in Dubai, United Arab Emirates.
Reports from Dubai show that Nigeria equals China with 1411 contingents to the conference, the highest in the global event aside from the host UAE.
But in a satirical response to the size of Nigeria’s contingent Obi said “In a twist of sad irony, let me congratulate the giant of Africa, Nigeria, for matching the great China, with the same number of contingents at the ongoing COP28 in Dubai, United Arab Emirates. Nigeria’s contingent to COP28 totaled 1411, the same number as the Chinese contingents.
The LP standard bearer noted that While China’s budget for 2024 is about $4 trillion, about $2,860 per head; Nigeria’s budget is about $33 billion, about $165 per head. China has a high Human Development Index, HDI, with a ranking of 79 out of 191 countries measured, and Nigeria has a low HDI, with a ranking of 163 out of 191 countries measured. Nigeria has more people living in ‘Multi-Dimensional’ poverty than China, despite China having seven times our population.
“Most importantly, the vast majority of those in the Nigerian delegation to COP28 are non-relevant civil servants or relations, friends, and hangers-on of high government officials. Most of them hardly understand or have anything to do with Climate Change.
“This huge contingent is at public expense and at a time when most Nigerians can hardly afford food and basic needs as a result of economic hardship. I pray earnestly that a day will come soon enough when we can focus on competing with China on productivity and the miracle of migrating the highest number of its citizens out of poverty over a relatively short time.
“As we have kept emphasising, we must stop waste as an addition to our government and nation. We urgently need to cut the cost of governance and invest in production.
Obi finally stated that “we need to de-emphasise unnecessary ceremony and showmanship as a mode of government behaviour.
“We need to tie spending to necessity and national Priority pointing out that a New Nigeria is possible but we only need to do the reasonable and the necessary.”
Instagram Unveils Improved Editing Tools For Creators, Users
Long Service Award: Julius Berger Assures Workers Of Brighter Years Ahead
Super Eagles Hitman, Osimhen Wins Italian League Footballer Of The Year
PSC Dismisses DCP Abba Kyari, To Be Prosecuted Over Alleged $1.1m Fraud
2022 Will Brighten Possibility Of Osinbajo Presidency, Says TPP
