The House of Representatives has officially asked ministries, departments and agencies of the Federal Government, especially the revenue generating ones, to submit their monthly report on their revenue performance.

It was learnt on Thursday that the House Committee on Finance made the move to maximise the MDAs performances towards funding the national budget for 2020.

The Chairman of the committee, Mr James Faleke, confirmed this to our correspondent.

Faleke had in a statement on December 19, 2019, stated that the 2020 Appropriation Act could only be implemented by adequate revenue.

The statement had read in part, “The Appropriation Act remains a plan on paper and can only become a reality if funds are available for the execution of the projects as contained in the Act. The plan will not come to fruition if the appropriated revenue are not generated and remitted to the appropriate government accounts.

“The Committee on Finance whose key area of oversight is revenue generation and remittances has the job of ensuring that these revenues are achieved and remitted accordingly.

“All MDAs, collecting banks, corporate bodies of government are expected to cooperate fully with the committee in carrying out its functions. In this light, the Committee on Finance will be receiving weekly monthly reports on revenue generation and remittances to monitor these revenue projections.

“The Committee on Finance will also use the new Federal Government transparency initiative on expenditure disclosure by the MDAs to ensure (that) extra-budgetary expenditures are curtailed to enhance revenue remittances to the treasury.”

Responding to our correspondent’s enquiry on whether the committee had communicated its resolution to the MDAs and if a revenue target had been set for them, Faleke, via a text message, said, “All the MDAs have been notified. We don’t set targets; the executive sets it while we oversight to ensure compliance.”

The Senate and the House of Representatives had on December 5, 2019, concurrently passed the 2020 Appropriation Bill, raising the total estimates from the proposed N10.33tn to about N10.6tn.

Buhari had assented to the 2020 Appropriation Bill on December 17, 2019.

Practical Considerations to Negotiate an Enforceable Joint Operating Agreement in Civil Law Jurisdictions (Netherlands: Kluwer Law International, 2020) By Professor Damilola S. Olawuyi, LL. B (1st Class), BL (1st Class), LL.M (Calgary), LL.M (Harvard), DPhil (Oxford), Professor of Law and Deputy Vice-Chancellor, Afe Babalola University, Ado Ekiti, Nigeria, www.damilolaolawuyi.com. & Professor Eduardo G. Pereira, LL. B (Brazil), LL.M (Aberdeen), PhD (Aberdeen),www.eduardogpereira.com   

Book information For more information or to order your copies, please contact Mr. Keji Kolawole: info@ogeesinstitute.edu.ng , Tel: +234 81 40000 988

Send your press release/articles to thenigerialawyers@gmail.com, editor@thenigerialawyer.com, Follow us on Twitter at @Nigerialawyers and Facebook @ facebook.com/thenigerialawyer

For Advert Inquiries Tele/+234 806 819 1709 E-mail: thenigerialawyers@gmail.com

Subscribe ToTheNigeriaLawyer News!