top of page

President Buhari submits list of ‘revenue generating’ MDA Budgets to NASS

  • Writer: Admin
    Admin
  • Jul 19, 2016
  • 1 min read

President Muhammadu Buhari has forwarded 2016 budget proposals of 38 Ministries, Departments and Agencies to the National Assembly for consideration, thereby making it the first time revenue generating agencies would be subjected to the fiscal responsibility Act.

The Senate after an hour closed-door meeting announced that President Buhari has written, seeking approval of the Senate to enable MDAs expend funds for various projects in line with statutory laws.

“Distinguished Senators, I wish to announced that President Buhari has in a letter addressed to the Senate President forwarded 38 MDAs Budget, seeking for consideration of the Senate,” he announced.

DAILY POST observed that the provisions of Fiscal Responsibility Act, 2007 succinctly provides that all Government Revenue Generating Agencies shall not spend revenues they so generate except through budgetary approval. This provisions have been flouted in the last 9 years save for the Central Bank of Nigeria (CBN) and Nigeria National Petroleum Corporation (NNPC) which partly subjected its budgetary proposal to Senate’s scrutiny.

Agencies like the Corporate Affairs Commission which is under Federal Ministry of Trade and Industry and others have huge revenue profiles which they have been spending on their own, yet got federal subvention.

Comentarios


Nigerian Youth Movement -NYM

This movement is designed to enable Nigerian youths;home and away to unite as one and fight for good governance. This movement is NOT affiliated with any politician.

Email: nigerianyouthmovt@gmail.com

Phone: +234-817-549-2228

Address: Abuja, Nigeria

Don't Be Left Behind, Subscribe for  Updates

Thanks for submitting!

© 2019 by Nigerian Youth Movement (NYM)  |   Privacy Policy

bottom of page