FG creates 91 additional revenue generating agencies
In an effort to boost its revenue base, the Federal Government has created an additional 91 agencies bringing the number of such agencies to 122.
It explained that these are geared towards getting funds for execution of 2018 budget.
Acting Chairman of Federal Responsibility Commission (FRC), Victor Muruako, stated this at a stakeholders’ meeting yesterday in Abuja, saying, “We want to get revenue from non-oil sectors.
“Before now, we used to have 31 agencies but government would want to improve independent revenue. We have made all efforts to have template for all agencies.
According to him, the Treasury Single Account (TSA) had made government to know the amount generated before decisions are taken for expenditure and that government intended to know agency’s budget performance.
Also speaking, Director of Monitoring and Evaluation, Moshood Alatinjani, said the FRC was desirous of getting more fund into government coffers, adding that every agency generates income.
“The primary purpose of agencies is to make returns to government. To this effect, National Information Technology Development Agency (NITDA), is expected to rake N14 billion between 2007 and 2016,” he said.
A representative of NITDA, Umar Ibrahim said: “We are not revenue generating agency because we are being funded by government. Issue of surplus fund has been made to Accountant General of the Federation.”
He disclosed that the 2017 account was intact, adding: “We have chunk of our fund in our coffers, and between 2011 and 2015 we have surplus, in fact we did not discover it on time.”
No comments yet