The National Assembly Joint Committee on Finance has given revenue-generating agencies a 48-hour deadline to appear for their 2025 budget defense. Failure to comply could result in the exclusion of these agencies from government funding for the upcoming fiscal year.
The committee expressed its dissatisfaction with several agencies, including the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS), Nigerian Postal Service (NPS), and Nigerian Railway Corporation (NRC), for failing to honor invitations to present their budget proposals and revenue profiles.
During the session, Senator Sani Musa, Chairman of the Senate Committee on Finance, emphasized the directive issued by President Bola Tinubu. âThe President has instructed all ministers and agency heads to defend their budgets before the National Assembly. Ignoring this mandate undermines accountability and good governance,â Musa said.
Other agencies under scrutiny include the Nigerian Civil Aviation Authority (NCAA), Standard Organisation of Nigeria (SON), Tertiary Education Trust Fund (TETFund), and the National Agency for Food and Drug Administration and Control (NAFDAC). Additionally, the Nigerian Copyright Commission, National Insurance Commission, and the Transmission Company of Nigeria (TCN) were listed among those failing to comply.
Senator Musa expressed his frustration over the situation, noting that several agencies had neglected their responsibility to present and defend their 2025 budget proposals. âDespite clear instructions from the President during the budget presentation, these agencies have refused to engage with the legislature,â he said.
He warned that non-compliance could lead to severe consequences. âWe are issuing a 48-hour ultimatum. If they fail to appear, we will recommend to the Appropriation Committee to withhold their allocations. For self-funded agencies, we will advise the Minister of Finance and the Accountant General of the Federation to suspend their funding,â Musa stated.
James Faleke, Chairman of the House Committee on Finance, also underscored the importance of the budget defense process. âThis exercise is crucial for increasing revenue generation and reducing reliance on borrowing. Agencies that fail to comply will face appropriate actions from the National Assembly,â he warned.
Meanwhile, the Senate has adjourned plenary until January 28 to allow ministries, departments, and agencies (MDAs) to defend their allocations under the âŠ49.7 trillion 2025 Appropriations Bill. The motion for the adjournment, moved by Deputy Senate Leader Senator Ashiru Oyelola, was approved by Senate President Godswill Akpabio through a voice vote.
Lawmakers have vowed to ensure accountability throughout the budget process, signaling potential sanctions for agencies that refuse to cooperate.
For updates, join our WhatsApp channel here: https://whatsapp.com/channel/0029VabITrvEAKW7DSkTfP0J.