Categories: Politics

Nigeria: Lawmakers Against FG’s Borrowing to Finance 2022 Budget Deficit

The House of Representatives has expressed displeasure over the way some government agencies conceal their revenues, thereby denying the federal government the fund for budgeting.

The House criticised the way the country resorts to borrowing N5.62 trillion to finance the deficit in the 2022 budget, while these agencies starve the government of funds.

The Chairman, of the House Committee on Finance, James Faleke, made this known at the ongoing public hearing on 2022 to 2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) on Thursday in Abuja.

“We are not you happy the way Nigeria is borrowing N5.62 trillion and we have some fund somewhere staying fallow without being used.

“For God sake, let us build this country together for the sake of all of us,’’ he said.

Mr Faleke said the major problem facing the country was revenue generation, adding that the House of Representatives would be more interested in how much government agencies could save.

He said if the House discovered that any of the government agencies’ capital projects were unnecessary, they would be removed in a bid to get revenue for the country.

The committee also directed the Nigeria Communication Commission (NCC) to provide the turnover of the amount realised from all network operators from 2018 to 2020.

Mr Faleke said this would enable the committee to look at their records and be able to determine if the revenue proposal for 2022 to 2024 would be good for the country.

Others are Nigeria Metrology Agency, Nigeria Postal Service, Federal Road Safety Corps, Nigeria Export Promotion Council, Nigeria Communication Satellite Ltd. among others.

Mr Emeka Iseogwu, the general manager, Finance, who represented the Director-General of NPA, said the agency was on course in terms of revenue generation.

He said that NPA was targeting N338 billion for revenue in 2022.

NAN

Follow us on:

AriseNews

Recent Posts

President Tinubu Names Daniel Bwala Special Adviser on Media and Communications, Appoints New DGs for Agencies

President Tinubu has appointed Daniel Bwala as Special Adviser on Media and Public Communications, urging…

3 mins ago

FCDA Executive Secretary Hadi Ahmad Suspended Indefinitely

The Executive Secretary of the Federal Capital Development Authority, Shehu Hadi Ahmad, has been suspended…

18 mins ago

German Consul General Börner Calls for Greater Media Freedom in Nigeria

German Consul General Börner stressed media freedom’s importance, noting Nigeria’s 112th press freedom rank and…

4 hours ago

FG Approves 2025-2026 MTEF, Targets N47.9trn For 2025

The Federal Executive Council approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework, setting the federal budget at…

5 hours ago

Michael Oglegba: Benue State Is Embracing Mechanisation to Transform Agriculture

Benue State’s Commissioner for Finance has emphasised the need for farming to evolve from a…

6 hours ago

Government Should Conduct Forensic Audit Before Funding Power Sector; NNPC Probe Long Overdue, Says Abdullahi Shinkafi

Dr. Sani Abdullahi Shinkafi has called for overdue NNPC investigation and forensic audits in the…

9 hours ago