The National Assembly Joint Committee on Finance has given revenue-generating agencies 48 48-hour ultimatum to appear or risk being withdrawn from government funding for 2025 operations. It decried their failure to honour invitations for their 2025 budget defence and their revenue-generating profile.
The agencies include the Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA), the Federal Inland Revenue Service (FIRS), the Nigerian Postal Service (NPS), and the Nigerian Railway Corporation (NRC).
Others are the Nigerian Civil Aviation Authority (NCAA), Standard Organization of Nigeria (SON), Tertiary Education Trust Fund, Oil and Gas Free Zones Authority and the National Agency for Food, Drug Administration and Control (NAFDAC). The Nigerian Copyright Commission, National Insurance Commission, National Pensions Commission, National Space and Research Development Agency, and the Nigerian Metrological Agency are also included.
The rest are the Nigerian Agricultural Insurance Corporations, Airspace Management Authority, Nigerian Content Development and Monitoring Board, Nigerian Liquefied Natural Gas Limited, Transmission Company of Nigeria, Bank of Industry (BoI), and Nigerian College of Aviation Technology, Zaira. Speaking during the second day of the revenue profiling exercise, the Chairman of the Senate Committee of Finance, Senator Sani Musa (APC-Niger), said President Bola Tinubu, while presenting the 2025 budget to the National Assembly, mandated all ministers and heads of agencies to appear to defend their respective budgets before the Assembly. According to Senator Musa, members of the National Assembly had to cut short their Christmas holidays to attend to the national assignment. “But to our dismay, a lot of agencies have refused to honour our invitations to appear before us, for us to scrutinize their performances in 2024 and look at their 2025 projection, if it is justifiable.
These agencies have refused to honour the Joint Committee’s invitation. So, by the constitutional powers given to the Joint Committees on Finance of both the Senate and the House of Representatives, we are given the chief executives of these agencies 48 hours within which to appear before this Joint Committee.
Failure to do that, the Committee will not hesitate to recommend to the Appropriation Committee to withhold any appropriation to these agencies. If these agencies are self-funded, we will also request both the Minister of Finance and the Accountant General of the Federation to withhold their funding,” he said. The Senate adjourned the plenary till January 28 to enable heads of MDAs to defend their allocations in the N49.7 trillion 2025 Appropriations Bill before its relevant committees.
