The Senate has expressed concern over the consistently low remittances of revenues generated in 2024 by Ministries, Departments, and Agencies (MDAs) and some Government-Owned Enterprises (GOEs) to the Federation Account.
The chairman of the Joint Finance Committee of the Senate and House of Representatives, Senator Sani Musa, made this statement yesterday in Abuja during an interactive session on the MDAs’ revenue projections 2025.
The session featured representatives from key agencies, including the Nigeria Customs Service (NCS), Federal Road Safety Commission (FRSC), Joint Admissions and Matriculation Board (JAMB), Nigeria Immigration Service (NIS), Nigeria Communications Commission (NCC), and the Fiscal Responsibility Commission (FRC).
Senator Musa expressed deep concern over the disparity between the substantial revenue generated by these MDAs and their consistently low remittances to the Federation Account.
He highlighted that this trend undermines the government’s ability to fund critical infrastructure projects and provide essential social services.
“This trend calls into question inefficiency, mismanagement, and possible revenue leakages,” he said.
He emphasised that the committee’s primary mandate is to ensure transparency, accountability, and efficiency in these agencies’ financial operations.
The committee has committed to scrutinising the MDAs’ revenue projections, financial performance, and compliance with statutory remittance obligations.
Senator Musa explained that this process aims to identify systemic challenges and recommend actionable solutions to address the troubling patterns.
He called on the agencies to present accurate data and comprehensive records during the session, emphasising the need for transparency to benefit Nigerians.
“Let us approach these tasks with a shared commitment to building a stronger, more accountable fiscal framework for Nigeria,” he said, underscoring the importance of collective responsibility.
The senator urged stakeholders to openly address all areas of concern, including those not formally presented during the session.
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