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Accountant General Reveals Total Revenue Inflow For Q1 Is N318.5bn

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…as MOFI say N10bn Realised from some agencies
By Gloria Ikibah
The Accountant General of the Federation, Oluwatoyin Madein has said that total revenue inflows to the Federal Government in the first quarter of 2024 amounted to N318.5 billion.
Madein disclosed this on Wednesday at a an interactive session organised by the House of Representatives Committee on Finance to monitor the revenue by agencies of the Federal Government.
Represented by the Director, Revenue Expenses, Felix Ogundayero, she said this was against the total expected revenue of N2.59 trillion for the year 2024, also a reconciliation of the figures was still ongoing and what was declared is what is available at the moment.
Madein further expressed confidence that it would be an exceptional year in terms of revenue for the country based on the policies of the present administration.
According to her, the bottom up cash planning policy would be adopted in implementing the 2024 budget.
She said, “Reconciliation is still being done but the total revenue inflows to the federal government for January to March amounts to N318. 5 billion as against a total budget of 2.691 trillion.
“For the budget, the bottom up cash planning policy is on course and the 2024 budget is going to be implemented via that policy and officers have been retained and sensitization is ongoing to ensure that MDAs are well equipped on the modalities and conditionalities”.
Chairman of the Committee, Rep. James Faleke explained that the essence of the sitting was in line with their duty as a parliament to oversight to ensure that the revenue estimates which were submitted by each agency before the 2024 appropriation bill was passed into law are met.
He said, “We have to ensure that those estimates are met. The Appropriation has become a law and so that revenue that you proposed to generate in the year we take it upon ourselves to do it on a quarterly basis to measure your performance.
“We want to ensure that revenue activities from January to March are in line with your appropriation. When you are giving us your figure, you tell us what the figure was expected for the generation and what you have achieved. Also tell us your expenditure”.
Chief Executive Officer, of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, also disclosed that so far N101 billion have been declared as dividends by some agencies under it.
Takang said the report presented was not comprehensive as some agencies were yet to declare their dividends due to various factors.
He said, “So far we have received dividends declared by some companies. But for many others their reports are either being prepared and have not been completed or have been completed but they have not gone to their boards for approval and subsequently the AGM and as such we cannot use the number of their dividends until that has been done based on the corporate governance rules.
“Based on the number so far, it’s about N101 billion from the entities we have identified. We continue with other entities whose dividends have not been paid to ensure we go through the process of them passing it at the board level and the AGM before the figures are sent to us and the money rendered to the treasury”.
The Chairman therefore directed that all the agencies under MOFI should produce their annual report for the past 10 years.
“All organisations under MOFI should produce their annual report for the past 10 years and the dividend that ought to have been paid, what ought to have been paid, and what was paid by each of the agencies, and of course evidence of payments,” Faleke said.
The House also berated the Nigerian Agricultural Insurance Corporation for performing far below expectations.
The Corporation, represented by Dr Philip Ashunze, had said out of a total expected revenue of N10 billion, it had only generated N70 million so far.
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Oyebanji appoints new Chief of Staff, others

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Ekiti State Governor, Biodun Oyebanji, has appointed Oyeniyi Adebayo as Chief of Staff, effective Thursday.

Adebayo, currently the Commissioner for Budget, Economic Planning, and Performance Management, will oversee the coordination of activities in the Governor’s Office.

Announcing the appointment in a statement, the governor’s Special Adviser to the Governor on Media, Yinka Oyebode, said, “Mr. Adebayo brings a wealth of experience in finance, management, and planning to his new role. His expertise will be critical in ensuring the efficient operation of the Governor’s Office.”

Adebayo, from Usi-Ekiti, joined the Oyebanji administration in November 2022 as Special Adviser on Budget, Economic Planning, and Performance Management before being elevated to commissioner in August 2023.

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In related developments, Femi Ajayi has been appointed as Commissioner for Budget and Economic Planning, effective Thursday.

Ajayi, who had previously held this position, currently serves as Special Adviser to the Governor in the Independent Project Monitoring Office.

On the restructuring of the ministry, Oyebode explained, “The Ministry of Budget and Economic Planning will revert to its original name from January 2, 2025, reflecting its renewed focus and mandate under Hon. Ajayi.”

Governor Oyebanji also announced the creation of the Office of Special Services, to be headed by Prince Wole Ajakaiye as Special Adviser.

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Ajakaiye, the current Director General/Special Adviser on SDGs, will oversee Sustainable Development Goals, Independent Project Monitoring, and other responsibilities.

Speaking on Ajakaiye’s appointment, the governor said, “Prince Ajakaiye’s leadership has been instrumental in driving SDG-related initiatives, and I am confident he will bring the same dedication to his expanded role.”

Additionally, Tajudeen Akingbolu has been appointed Director General of the Ekiti State Transport Agency, effective January 2, 2025.

A former member of the state House of Assembly, Akingbolu will manage the newly established agency.

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Oyebode said, “These appointments reflect Governor Oyebanji’s commitment to harnessing the skills and experience of competent individuals to drive Ekiti State’s development agenda.”

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2025: Senator Manu celebrates with constituents, says we’ll all triumph this year

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The Senator representing Taraba Central Senatorial District, Senator Manu Haruna has said 2025 will showcase victory for his constituents, Tarabans and Nigeria as a country.

Manu who made this disclosure in a new year message to his constituents and Nigerians declared that it’s going to be a year of victory against insecurity and economic challenges.

Senator Manu celebrated the dawn of a new year and expressed his gratitude for the trust and support of the people of Taraba Central.

He acknowledged their resilience and unity in facing the challenges of the past year and prayed for peace, prosperity, and progress in the year ahead.

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The Senator reaffirmed his commitment to serving the people, advancing development projects, and addressing key issues in the district.

The former Deputy Governor of Taraba State Manu encouraged everyone to embrace the spirit of hope and determination as they work together to build a brighter future for Taraba Central and Nigeria.

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FCT: Wike reveals punishment for those who refuse to pay certificate of occupancy fee

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The Minister of the Federal Capital Territory, FCT, Nyesom Wike, has stated that the grace period for land allottees to pay their Certificate of Occupancy fees would not be extended.

He said it is essential for individuals to fulfil their obligations, adding that after the grace period expires, these lands will be reallocated to interested parties.

Wike said this while conducting a routine inspection of several key infrastructure projects currently underway in the FCT.

Projects inspected include the 15-kilometre left-hand service carriageway of the Outer Southern Expressway, OSEX, from Ring Road 1 to Wasa Junction, the Abuja Division of the Court of Appeal complex in Dakibiyu, Jabi District and the 5-kilometre Saburi Road.

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Addressing journalists after the inspection, Wike expressed concerns raised by some individuals regarding the publication of the names of plot owners who have yet to pay their Certificate of Occupancy fees.

He clarified that the list was generated from existing records and that individuals with proof of payment would be addressed accordingly.

He further stated that the grace period for land allottees to pay the fee would not be extended.

Emphasising the need for compliance and the importance of revenue generation for FCT’s development, he explained that some of the land allocations dated back to 10 years, adding: “We believe it is essential for individuals to fulfill their obligations. After the grace period expires, these lands will be reallocated to interested parties.”

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When asked about distractions and how they may affect his developmental strides in the FCT in 2025, the Minister reiterated that nothing distracts him, insisting that he remains intensely focused on achieving his mandate in the FCT.

He said complaints were an inherent part of governance and that it was unrealistic to expect to satisfy everyone.

“These complaints will not deter us from our mission. We are committed to fulfilling our responsibilities and achieving the best possible outcomes for most of our residents,” he said.

“Our focus remains on what is right and achieving the best possible results for the majority of our residents, not for a select few.”

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