• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, July 2, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NASS Committee Sets Up Panel to Investigate N4trn Revenue Shortfall

by Samson Elijah
6 months ago
in News
NASS
Share on WhatsAppShare on FacebookShare on XTelegram

The National Assembly Joint Committee on Finance has established a special panel to investigate a revenue shortfall exceeding N4 trillion, attributed to indiscriminate waivers granted by government agencies.

Advertisement

The announcement was made during a probe hearing held yesterday in Abuja, co-chaired by Senator Sani Musa and Representative James Faleke.

The session aimed to review the revenue profiles of Ministries, Departments, and Agencies (MDAs) and Government-Owned Enterprises (GOEs) in preparation for the 2025 budget.

This effort is intended to help the Senate and House of Representatives Committees develop accurate and realistic revenue projections for 2025.

Revenue Shortfall: Senate Backs Merger Of MDAs

The investigation followed a motion by Senator Adamu Aliero on the Senate floor expressing concerns about the significant revenue shortfall and the impact of waivers on expected collections.

RELATED

Benue Crisis And The Aftermath Of Tinubu’s Visit

Benue Crisis And The Aftermath Of Tinubu’s Visit

13 minutes ago
Large-cap Stock Drives Local Bourse To N180bn Gains

Equities Extend Losing Streak As Capitalization Drops By N150bn

1 hour ago

“Due to the issue of waivers, there is a serious shortfall between what is supposed to be collected as revenue and what is collected,” Senator Aliero stated.

He added, “From our records, over N5.9 trillion was expected for the Consolidated Revenue Fund, but only N1.9 trillion has been accounted for. We need to set up a special committee to investigate this serious anomaly.

“We cannot allow revenue agencies to spend money without the National Assembly’s oversight. If someone is given a waiver, we must determine who approved it. A shortfall of over N4 trillion is not a small amount. Over N4.9 trillion has not been remitted, and we should investigate all the unremitted funds.”

Co-chair Senator Sani Musa pointed out that many GOEs collect revenue from various sources but fail to disclose them.

“We have discovered that some GOEs do not disclose their full revenue to the budget office. After scrutinising their records, we believe these agencies will be able to provide more details on how these revenues are sourced. We will also focus on their expenditures,” Musa said.

He continued, “It’s concerning that some agencies collect revenues and spend almost 95% of it. This leakage must be addressed, and we are committed to finding a solution.”

Senator Musa also referenced the President’s recent remarks on the 2025 budget, emphasising the need for MDAs to defend their budgets before the National Assembly. He warned that agencies failing to do so could face zero allocations.

The Joint Committee on Finance raised concerns about the Joint Admissions and Matriculation Board (JAMB), questioning why it received a federal grant of N6 billion while remitting only N4 billion to the Consolidated Revenue Fund.

The Committee also scrutinised JAMB’s allocation of N1.1 billion for refreshments and meals in its 2025 budget proposal.

JAMB Registrar Prof. Ishaq Oloyede was directed to return in three days with a more detailed presentation.

Similarly, the Federal Road Safety Corps (FRSC) was scrutinised for failing to remit the N8 billion it generated in 2024.

This followed a presentation by Deputy Corps Marshal Shehu Mohammed, representing the Corps Marshal General. Mohammed reported that while the FRSC had a target of N10 billion, it generated N13 billion but remitted only N5 billion.

“You had a target of N10 billion but generated N13 billion, remitting only N5 billion. You need to furnish this Committee with details of the unremitted funds,” Sani directed.

The Committee instructed the FRSC to provide detailed information on the unremitted funds.

The Minister of Budget and Economic Planning, Atiku Bagudu, emphasised the importance of transparency in revenue generation and allocation.

He noted that the 2024 budget is the current administration’s first full-year budget and that lessons learned will guide assumptions for the 2025 budget, which aims to increase revenue and stabilise the economy.

Bagudu urged all government agencies to cooperate fully with the National Assembly, warning that agencies failing to present and defend their budgets could face zero allocations in the 2025 budget.

Other government agencies, including the Fiscal Responsibility Commission, Nigeria Customs Service, Federal Airports Authority of Nigeria, and Nigeria Communications Commission, have also been summoned to appear before the Committee at its next sitting to account for their revenue and expenditures.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: National assemblyRevenue Shortfall
SendShareTweetShare
Previous Post

PDP Dismisses Anyanwu’s Return As National Secretary

Next Post

Don’t Fail Nigerians, Senate Tells NWDC, SEDC Nominees

Samson Elijah

Samson Elijah

You May Like

Benue Crisis And The Aftermath Of Tinubu’s Visit
Feature

Benue Crisis And The Aftermath Of Tinubu’s Visit

2025/07/02
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Equities Extend Losing Streak As Capitalization Drops By N150bn

2025/07/02
Seplat Energy Appoints Ezugworie COO
Business

Seplat Energy Drives Media Entrepreneurship, Empowers 50 Journalists

2025/07/02
Dangote’s 650,000bpd Refinery 97% Completed – NMDPRA
Business

Stakeholders Gear Up For Inaugural Gas Safety Conference To Secure Growing Sector

2025/07/02
C&I Leasing Posts Net Profit Of N1.6bn In 2024
Business

C&I Leasing Posts Net Profit Of N1.6bn In 2024

2025/07/02
NIMC
News

ALTON Announces Disruption In SIM Services Amid NIMC Platform Switch

2025/07/02
Leadership Conference advertisement

LATEST

Benue Crisis And The Aftermath Of Tinubu’s Visit

Equities Extend Losing Streak As Capitalization Drops By N150bn

Seplat Energy Drives Media Entrepreneurship, Empowers 50 Journalists

Stakeholders Gear Up For Inaugural Gas Safety Conference To Secure Growing Sector

C&I Leasing Posts Net Profit Of N1.6bn In 2024

ALTON Announces Disruption In SIM Services Amid NIMC Platform Switch

Dantata Laid To Rest In Madinah, Dangote, Others Bid Farewell

The Political Economy Of Tax Reform

River Basin Allocates N9bn For Niger In 2025 Plan

Africa Unites Against Colonial Legacy As Senate Hosts Diplomatic Forum

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.