The Senate on Monday expressed dissatisfaction with the low revenue remittances reported by Ministries, Departments, and Agencies (MDAs) as well as some Government-Owned Enterprises (GOEs) to the Federation Account in 2024.
Speaking in Abuja during an interactive session on revenue projections for 2025, Senator Sani Musa, Chairman of the Joint Finance Committee of the Senate and House of Representatives, raised concerns over the significant disparity between the MDAs’ revenue accruals and their remittances to the national treasury.
“This trend undermines the government’s ability to fund critical infrastructure and social services, raising concerns about inefficiency, mismanagement, and potential revenue leakages,” Musa stated.
The session was attended by representatives from key agencies, including the Nigeria Customs Service (NCS), the Federal Road Safety Corps (FRSC), the Joint Admissions and Matriculation Board (JAMB), the Nigeria Immigration Service (NIS), the Nigeria Communications Commission (NCC), and the Fiscal Responsibility Commission (FRC).
Musa emphasized that the committee’s mandate was to ensure transparency, accountability, and efficiency in the financial operations of these agencies. He assured stakeholders that the committee would continue to scrutinize revenue projections, performance, and statutory remittance obligations to identify systemic challenges and propose actionable solutions.
“It is imperative that accurate data, comprehensive records, and transparent information are presented for the benefit of Nigerians. Let us approach these tasks with a shared commitment to building a stronger, more accountable fiscal framework for Nigeria,” he said.
The senator urged cooperation from all stakeholders and encouraged openness during the session. “I call on everyone to be forthcoming about any issues, even those that may not have been previously disclosed,” Musa added.
