Senate Raises Alarm Over MDAs’ Poor Remittances in 2024, Vows Financial Accountability
The Senate has expressed deep concern over the low remittances to the Federation Account by ministries, departments, agencies (MDAs), and government-owned enterprises (GOEs) in 2024, despite significant revenue generation.
At an interactive session in Abuja on Monday, Senator Sani Musa, Chairman of the Joint Finance Committee of the Senate and House of Representatives, highlighted the growing disparity between the revenues generated by these bodies and the amounts remitted to the federal treasury.
Senator Musa described the trend as a serious challenge to Nigeria’s fiscal health.
“This trend undermines the government’s capacity to fund critical infrastructure and social services, raising concerns about inefficiency, mismanagement, and possible revenue leakages,” he said.
The interactive session involved representatives from key MDAs, including the Nigeria Customs Service (NCS), Federal Road Safety Commission (FRSC), Joint Admissions and Matriculation Board (JAMB), Nigeria Immigration Service (NIS), Nigeria Communications Commission (NCC), and the Fiscal Responsibility Commission (FRC).
Musa emphasized the committee’s responsibility to ensure transparency, accountability, and efficiency in the financial operations of MDAs. He noted that the Senate would continue scrutinizing revenue projections and remittance practices to identify loopholes and recommend actionable solutions.
“We are committed to reversing these troubling patterns and building a stronger, more accountable fiscal framework for Nigeria,” he said.
The senator urged all stakeholders to approach the discussions with honesty and a shared commitment to improving the country’s fiscal operations.
“Let us approach these tasks with a shared commitment to transparency. Accurate data and comprehensive records must be presented for the benefit of Nigerians. Even areas not yet presented should be laid bare to address these issues holistically,” Musa added.
The meeting, aimed at assessing MDAs’ revenue projections for 2025, comes as Nigeria continues to grapple with economic challenges and the need for improved fiscal responsibility.
The Senate has pledged to hold MDAs accountable and ensure that leakages are plugged to enhance the government’s capacity to deliver on its mandates.
The outcome of this interactive session and the subsequent recommendations are expected to shape the trajectory of fiscal governance in 2025, fostering greater accountability in Nigeria’s public finance system.