2014 budget: Reps summon revenue agencies

As the 2014 appropriation bill passed second reading at the House of Representatives last week, the finance committee of the House yesterday summoned the revenue generating agencies to explain the status of collections and remittances in the last two years.

The committee, in a statement by its chairman, Rep Abdulmumini Jibrin (APC, Kano) also said the finance minister, Ngozi Okonjo-Iweala, the Accountant General of the Federation, director of the budget office as well as the Director-General of the Debt Management office, would all have to be present in all the five-day hearings slated for the different revenue generating agencies.

Rep Jibrin added that his committee needs to be updated about the status of the revenue generation, collections and remittances from 2011-2013 with a view to kick starting the 2014 budget revenue framework.

The invited agencies are the Nigerian Customs Service, Federal Inland Revenue Service, Bureau of Public Enterprises, Nigeria Communications Commission, Corporate Affairs Commission, Nigerian Social Insurance Trust Fund and the Nigerian Ports Authority, billed to appear on February 20.

Other agencies to appear on February 24 are the Nigerian National Petroleum Corporation, Central Bank of Nigeria, Ministry of Solid Minerals Development, Federal Airports Authority of Nigeria, Nigerian Tourism Development Corporation, Nigerian Postal Service, Nigerian Maritime Administration and Safety Agency.

Also invited are the National Insurance Commission, National Automotive Commission, Nigeria Deposit Insurance Corporation, National Agency for Food and Drug Administration and Control, Raw Materials Research and Development Council, Nigeria Civil Aviation Authority.