Finance c’ttee invites CBN, FIRS, others
The Committee on Public Finance and Revenue yesterday invited officials of the Central Bank of Nigeria ( CBN) and Department of Petroleum Resources to appear before it to contribute to the work it is doing.
Committee Chairman, Adamu Aliero, said the Joint Tax Board, Federal Inland Revenue Service, Debt Management Office, Nigeria Customs Service, Revenue Mobilisation Allocation and Fiscal Commission and others will also make presentations.
The committee, which will focus on domestic and external debt, tax administration, tax contribution, internally generated revenue, externally generated revenue, regulation of external borrowing by states and local governments and productivity, has Senator Azu Agboti as deputy chairman.
Committee members, after deliberating on the how to improve efficiency and transparency in revenue generation agreed to go through all past reports of related committees, saying it will also design roadmaps on reducing dependence on petrol as source of revenue.
Sergeant Awuse, a delegate from Rivers State urged committee to come up with a guideline that reduces the cost of revenue collection.
“We have to look at the cost of collection of revenue; is our own measurable with what is obtained internationally? It is also important that we explore other resources to expand our revenues. It should not just be oil; the Federal Government should be able to put money to develop some of our resources,” he said.