Mr Victor Muruako, Acting Chairman, Fiscal Responsibility Commission (FRC), says the Federal Government expects to get N886 billion from MDAs as Independent Revenue per annum.
He said this on Tuesday in Abuja at a stakeholders’ dialogue session with the management of the Federal Radio Corporation of Nigeria (FRCN), led by its Director General, Malam Mansur Liman.
Muruako said that if the Ministries, Departments and Agencies (MDAs) adhered to the Fiscal Responsibility Act (FRA), they would be able to make the remittances easily.
He said the Federal Government would in turn not have to borrow for overhead, but for capital projects only.
“We are looking forward to a time within the shortest possible time when the national appropriation will be funded internally by the government agencies.
“The president at the presentation of the 2018 budget, lamented the shortfall in the independent revenue of the Federal Government.
“He specifically said that as at October 2017, the independent revenue of the Federal Government had failed to reach up to the 25 per cent target.”
Muruako said that the dialogue was aimed at intimating the head of FRCN of the Federal Government’s expectation of it, having just been added to the FRA schedule to remit 80 per cent of its operating surplus to the Consolidated Revenue Fund (CRF).
“FRCN has not always been under the schedules of the FRA as an agency, it just came under the purview of our mandate.
“This is our own way of smoothening the process to ensure that we discharge our mandate in line with the FRA.
“We believe that having introduced ourselves and engaging you in correspondence, we should engage you in discussions and dialogue so that you can appreciate what we do.”
Responding, Liman commended the effort of FRC to ensure that all MDAs comply with the FRA.
He said it would help the agencies ensure that they took care of their responsibilities.
He, however, said that the FRCN was undergoing various challenges that needed to be solved monetarily but had not because of paucity of funds.
“Some of the equipment we have were purchased in the 60s and have not been replaced, but we will try to do what is expected of us.”
FRC has scheduled to have dialogue sessions with 18 MDAs in the next two weeks.
A circular on the inclusion of 92 additional corporations, agencies and government owned companies to the schedule of the Act was issued in 2016, bringing the number to 132.
Bolaji Abdullahi grieves over Bamigboye’s death
The Peoples Democratic Party(PDP) Gubernatorial Aspirant Mallam Bolaji Abdullahi has described the death of the First Military Governor of Kwara...
Osun Decides: Why I will win in landslide – Ademola Adeleke
. The standard bearer of the Peoples Democratic Party in the ongoing Osun election, Senator Ademola Adeleke, has boasted that...
Boko Haram: Army reveals plan to end insurgency
The Theatre Commander, Operation Lafiya Dole, Major General Abba Dikko, has charged troops to redouble their efforts in the fight...
Osun election: What APC candidate Oyetola said after voting
Alhaji Gboyega Oyetola, the governorship candidate of the All Progressives Congress (APC) in Saturday’s governorship election in Osun State, has...
2019: Abubakar reveals his enemies, warns INEC, politicians
Former Head of State, Gen. Abdulsalami Abubakar, on Friday, said he will forever be an enemy of anyone that tried...
Lagos APC crisis: CUPP tells Ambode what to do, accuses Buhari, Oshiomhole of backing Tinubu to sack governor
The Coalition for United Political Parties, CUPP, has called on the Governor of Lagos State Akinwumi Ambode, to resist alleged...
Osun Decides: How each candidate stands, plus intrigues, suspense of finality
”Election activities would commence on June 23 with the release of Notice of Election, political parties would commence public campaign...
Bamigboye’s death: Kwara has lost another great gem—Shuaibu Yaman
A governorship aspirant on the platform of the All Progressives Congress, (APC), Alhaji Abdullahi Yaman Shuiabu, has commiserated with the...
BREAKING…..Ex-Kwara Military Gov. dies at 78
The first military governor of Kwara State, Brig. Gen. David Lasisi Bamigboye (rtd), is dead. ROYAL NEWS reports that the...
NFF: How FIFA president, Infantino reacted to Pinnick’s re-election
Gianni Infantino, President of World Football ruling body, FIFA has sent a congratulatory message to Amaju Pinnick on his re-election...