- The hearing will enable the Senate and House of Representatives committees to draw up an accurate and realistic revenue projections for 2025.
A special committee has been constituted by the national assembly to look into the revenue shortfall occasioned by arbitrary waivers by government agencies.
The special committee, which was set up by the Joint Committee on Finance, will probe a shortfall of over N4 trillion in revenue.
The development is sequel to a motion moved by Senator Adamu Aliero during a hearing to examine the revenue profiles of ministries, departments, and agencies and government-owned enterprises ahead of the 2025 budget.
The hearing will enable the Senate and House of Representatives committees to draw up an accurate and realistic revenue projections for 2025.
This joint committee is co-chaired by Senator Sani Musa and Hon James Faleke.
Moving the motion, Aliero said: “Due to the issue of waivers, there is a serious shortfall between what is supposed to be collected as revenue and what is actually collected.
“From our records, over N5.9 trillion was supposed to be in the consolidated revenue fund of the federation, but we only have N1.9 trillion. We need to set up a special committee that will investigate this serious anomaly.
“We cannot continue to allow revenue agencies to spend money without the National Assembly. If someone is given a waiver, we have to find out who gave that waiver.
“A shortfall of over N4 trillion is not a small amount. We found out that over N4.9 trillion has not been remitted. We should set up an investigative committee that would investigate all the money that has not been remitted.”
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