Connect with us

News

Reps Demand Detailed Revenue, Expenditure Records from NERC, ICRC, Sugar Council

Published

on

By Gloria Ikibah

The House of Representatives has directed the Infrastructure Concession Regulatory Agency (ICRC), Nigeria Electricity Regulatory Commission (NERC), and National Sugar Development Council (NSDC), to provide detailed records of their revenues and expenditures.

This directive was issued during an interactive session on budget performance, with the House Committee on Finance on Tuesday in Abuja.

The Committee requested that the ICRC present records of all concessionaires and the fees charged since 2008. This followed a presentation by Shehu Sani Danmusa, representing the Director General, Dr. Jobson Ewalefoh.

Chairman of the Committee, Rep. James Faleke, faulted the agency’s presentation, highlighting inconsistencies in revenue and expenditure details, and stressed the need for comprehensive reports aligned with financial standards.

Advertisement

During the session, Chairman NERC, Sanusi Garba explained the agency’s income sources, primarily from the electricity market.

He stated, “The law allows us to prepare a budget and take just enough from the market to fund our operations.” However, Rep. Faleke questioned this approach, asking, “What is ‘just enough’? We need exact figures to determine your revenue.”

The Chairman emphasized that NERC, as a self-funded agency, must adhere to rules on deductions and remittances, and Director of Finance confirmed that 80 percent  of their operating surplus is remitted to the consolidated revenue fund.

But Rep. Faleke insisted on more transparency, stating, “How do we determine surplus if your income is unclear? You seem to be hiding something.”

Advertisement

The Committee also examined the expenditure of NSDC, this is as members criticized frivolous spending on foreign travel and office renovations, while core responsibilities in the sugar sector were neglected.

in response, the Director General, Kamal Bakari said that the agency relies on the Sugar Levy for funding, alongside VAT and withholding tax revenues remitted to the FIRS. But the Committee demanded for clearer records, particularly regarding the Outgrower Support Fund.

In his ruling, Faleke noted that Nigeria lags behind countries like Brazil in sugar production and by-product utilization, and there directed NSDC to provide comprehensive data for better assessment of its budget performance.

Other agencies in attendance were similarly instructed to submit detailed financial records.

Advertisement

The Committee also resolved to form an adhoc committee to review the budget performance of the Securities and Exchange Commission.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Kalu Leads House Delegation to Ogun for Condolence Visit

Published

on

…eulogizes late Onanuga, ex-speaker Bankole’s mother

By Gloria Ikibah

Deputy Speaker of the House of Representatives, Rep. Benjamin Okezie Kalu, CON, has described the late Deputy Chief Whip, Rt. Hon. Adewunmi Oriyomi Onanuga, as an irreplaceable parliamentarian known for her vocal nature and friendly disposition.

Leading a delegation on behalf of the Speaker, Rep. Tajudeen Abbas, Kalu visited Sagamu, Ogun State, on a condolence mission to the late Onanuga’s family.

Advertisement

Addressing the bereaved, he praised her dedication and influence, noting her unique presence in plenary sessions and unwavering support for her colleagues.

Kalu consoled her mother, Chief Mrs. Comfort Folashade Etutu, and her children, urging them to trust in God for comfort and strength. He assured the family of the House’s continued support and prayed against further untimely deaths in the household.

Earlier, Kalu led the delegation to Abeokuta for the fidau prayers of the late Mrs. Monsurat Atinuke Bankole, mother of former House Speaker Rt. Hon. Dimeji Bankole.

He lauded her sacrifices, which contributed to the success of her children, including the former Speaker’s contributions to the National Assembly.

Advertisement
Continue Reading

News

N800bn Inadequate for Nigeria’s Road Projects, Minister Umahi Tell Lawmakers

Published

on

 

 

By Gloria Ikibah

The Minister of Works, Dave Umahi, has described the N800 billion allocated to his ministry in the proposed 2025 budget as grossly insufficient to address Nigeria’s growing road infrastructure needs.

Advertisement

Umahi stated this during the 2025 budget defence session held on Friday by the House Committee on Works, chaired by Rep. Akin Alabi.

Speaking candidly, Umahi called for an upward review of the ministry’s budgetary allocation, stressing that the current figure would barely make a dent in the nation’s road development agenda.

“We plead with you to help us. N800 billion cannot do anything for us. It cannot address our road needs, and so we plead with you to help us,” the Minister told the lawmakers.

Umahi who emphasised the importance of adequate funding to complete ongoing projects and initiate critical new ones across the country, also stressed that borrowing was a necessary step to bridge the infrastructure gap and stimulate economic growth.

Advertisement

The Minister underscored the potential economic impact of infrastructure development, stating that it would create jobs and boost local economies.

“When the nation is in recession, you have to borrow money and invest in infrastructure. That is how you emerge from a recession. Infrastructure is a catalyst for economic activities, and this hunger we talk about will become a thing of the past,” he explained.

“Food sellers, sand suppliers, gravel workers, and others will benefit. Support Mr. President, and let’s borrow money to build infrastructure so Nigeria can be great again,” he added.

In response, Chairman of the Committee, assured Umahi that the committee would summon the Minister of Finance and the Head of the Budget Office to clarify the rationale behind the ministry’s limited allocation.

Advertisement

The session also provided an opportunity for the Minister to address lawmakers’ concerns about the state of roads nationwide, with assurances that the government remains committed to completing ongoing projects.

Continue Reading

News

NASS Joint Committee Suspends Fire Service Budget Over Irregularities

Published

on

 

 

By Gloria Ikibah

The National Assembly Joint Committee on Interior has suspended the budget defence of the Federal Fire Service (FFS) following significant discrepancies in the agency’s 2024 budget performance and 2025 proposal.

Advertisement

At a hearing chaired by Senator Adams Oshiomhole and his counterpart from the House, Chaired by Abdullahi Aliyu Ahmed, lawmakers flagged irregularities, including contradictory figures and inadequate documentation.

The committee uncovered discrepancies in the procurement of firefighting trucks, with similar units priced at N1.5 billion in one instance and N2.5 billion in another, despite being from the same supplier and of identical specifications.

The FFS Controller General, Jaji Abdulganiyu Idris, attributed the difference to variations in tanker sizes but failed to provide adequate supporting documentation.

Senator Oshiomhole criticized the inconsistencies, stating, “This reeks of over-padding or over-invoicing. Your written submission does not align with your explanation, and we cannot overlook this.”

Advertisement

Lawmakers also raised concerns about unclear contract commitments and an outstanding payment of N603 billion for ongoing projects, which lacked proper specifications.

Oshiomhole emphasized fiscal responsibility, saying, “Every N10 wasted by MDAs adds up. Our duty is to ensure that every naira benefits Nigerians, especially the poor.”

The committee further queried the FFS over unverified revenue remittances. Idris presented manual receipts as evidence, but the lawmakers rejected them, demanding proper bank statements and confirmation from the Accountant-General’s office.

As a result, the committee stepped down the FFS budget defence, instructing the agency to rectify its submission. Oshiomhole warned, “Submit a revised presentation with accurate figures, or risk zero allocation in 2025.”

Advertisement

The decision underscores the lawmakers’ commitment to accountability and efficient use of public funds, urging the FFS to address the issues promptly to secure its funding.

Continue Reading

Trending

Copyright © 2024 Naija Blitz News