With over N5 trillion deficit in the 2022 Medium-Term Expenditure Framework, MTEF, there is currently a bill before the House of Representatives, seeking to remove Nigerian Maritime Safety Administration, NIMASA, Federal Airports Authority of Nigeria, FAAN and Nigeria Civil Aviation Authority, NCAA from the list of money-spinning agencies that are lawfully required to remit to Federal Government account.
iBrandTV gathered authoritatively that the document entitled “An Act to Amend the Fiscal Responsibility Act, 2007”, is being sponsored by Rep. Linda Chuba-Ikpeazu (PDP-Anambra).
The legislature seeks to amend section 21 of the Principal Act (FRA 2007), by “inserting immediately after subsection (3), new subsection(4) which shall provide as follows, notwithstanding any other provision of this Act, the Nigerian Maritime Administration and Safety Agency, Federal Airport Authority of Nigeria and Nigerian Civil Authority, are hereby excluded from the application of the Provisions of the
It would be recalled barely 14 days ago, the House of Representatives through its Spokesman, Rep. Benjamin Kalu, had announce that, with the frightening annual budget deficits, the House would, in a matter of few weeks, commence an overhaul of laws setting up several agencies underreporting to the National Assembly their generated revenues.
He said the agencies, were hiding under loopholes in the Acts setting them up, to shortchange the Federal government of revenue.
He also accused Ministries and Agencies of government, of recycling budget proposals year-in-year out.
His words: “Most MDAs are recycling old budgets. They bring in the same budgets, year in year out. They also, in flagrant disregard of the Constitution and the Fiscal Responsibility Act, by failing to remit sane to to the Federal Government. Some agencies are underreporting revenue.
“These Agencies are self-serving. They are not serving the national interest, so we are going to look at the laws setting up these agencies and review them”.
The lawmakers, also expressed dissatisfaction with the “reduction in Capital Expenditure in the Medium Term Fiscal Framework of 2022”.