The House of Representatives’ finance committee warned the Nigerian Maritime Administration and Security Agency (NIMASA) and other agencies against refusing to appear before it to defend their income and expenditure profiles as contained in the Medium Term Expenditure Framework (MTEF) 2022-2024.
The committee gave the warning Tuesday during its interactive session on the medium-term spending framework with selected ministries.
Committee chairman James Faleke (APC, Lagos) said NIMASA, Federal Aviation Authority of Nigeria (FAAN), National Lottery Trust Fund, National Inland Waterways Authority and others had stayed on the sidelines of the session despite the invitations that had been sent to them.
The lawmaker said: “Some agencies avoid coming to present their documents in front of us, I want to make it clear that any government agency that refuses to appear before – and to defend the profile of income and expenses of its agency will be properly taken care of. by the house.
The current interactive session examines the revenues and expenses of some revenue-generating agencies and ministries, as the committee seeks to close the budget shortfall in the budget planned for 2022.
“I want to take this opportunity to call on NIMASA… .. NIMASA, this is the second time that we are making this announcement. You must bring your documents and defend your income before this committee.
“FAAN is supposed to come here tomorrow. There will be no room for postponements. They must come and defend the sources of their income. National Lottery Trust Fund, they must come and defend the income they have received and the way they manage this fund. NDIC is supposed to appear before us today, we haven’t seen them yet. Standard Organization of Nigeria, National Inland Water Way Authority, you must arrive before Thursday. Please do not allow us to make decisions that will not be acceptable to the agencies. “
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Last year, President Buhari invoked threat to national security as a justification for exceeding the deficit to GDP threshold as provided for in the Fiscal Responsibility Law for the 2021 budget. The law provides that the deficit to GDP should not exceed three percent.
Section 12 (2) of the Fiscal Responsibility Act allows the President to go above the ceiling “if, in his opinion, there is a clear and current threat to national security or the sovereignty of the Federal Republic of Nigeria ”.
The 2022 budget deficit as forecast by the MTEF amounts to 5.6 trillion naira (3.2%) against 5.6 trillion naira in the 2021 budget.
Mr Faleke said the committee will remove frivolous capital spending in income-generating MDAs, in order to free up the surplus from the consolidated income account.
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