The House of Representatives has commenced its yearly Christmas and New Year recess with an assurance that it would leave no stone unturned to ensure implementation of the N10.59 trillion worth 2020 budget. Deputy House Speaker, Ahmed Wase who presided over proceedings disclosed that the House would reconvene on the 28th January 2020.
Chairman of the House Committee on Finance, James Faleke who dropped the hint stated that his Committee will be receiving weekly /monthly reports on revenue generation and remittances to monitor the revenue projections in the 2020 budget. Faleke urged all MDAs, Collecting Banks, Corporate bodies of government to cooperate fully with the Committee in carrying out these functions.
“With the passage and signing of the 2020 Appropriation Act, the House Commit Finance wishes to commend all members of the House for the time spent to work on all source documents towards the passage of the Appropriation Act, he said. The Appropriation Act remains a plan on paper and can only become reality if funds are available for the execution of the projects as contained in the Act.
“The plan will not come to fruition if the appropriated revenue are not generated and remitted to the appropriate Government Accounts. The Committee on Finance whose key area of oversight is revenue generation and remittances has the job of ensuring these revenues are achieved and remitted accordingly. The Committee on Finance will also use the new Federal Government transparency initiative on expenditure disclosure by MDAs to ensure extra-budgetary expenditures are curtailed to enhance revenue remittances to the treasury,” he stressed.
The green chamber had earlier passed N278 billion Federal Capital Territory Administration (FCTA) budget for the 2020 fiscal year. The House passed the budget at plenary Friday following the report laid before the House by the Chairman, House Committee on FCTA, Hon. Abdullahi Idris Garba.
“That the House do consider the report of the Committees on FCT and FCT Area Councils and ancillary matters on a Bill for an act to authorize the issue from the FCTA statutory revenue fund of the FCTA account, the total sum of N278,355,365,947.00 of which the sum of N55,878,241,095.00 is for personnel costs; and the sum of N62,343,723,435.00 is for overhead costs; while the balance of M160,133,401,417.00 is for capital projects for the service of the FCT for the year ending on 31 December, 2020,” it said.
The House said that the Director of Treasury of the FCTA shall, when authorized to do so by warrants signed by the Minister of FCT with the responsibility to pay statutory revenue fund of FCTA during the financial year 2020, the sum specified by the warrants, not exceeding in the aggregate N278 billion.
The report said that all the amounts appropriated under the Bill shall be made from the FCTA statutory revenue fund only for the purposes specified in the schedule to the Bill. The report noted that in the event that the implementation of any of the projects intended to be undertaken under this Bill cannot be completed without virement, adding that such virement shall be effected with the prior approval of the National Assembly.
The report added that the FCT minister and the Director of Treasury, FCT shall immediately upon the coming into force of this Bill furnish the National Assembly, on a quarterly basis, the status of the records of the FCT statutory accounts.
The report said that due to revenue shortfall, amounts appropriated under this Bill cannot be funded, unless the FCT minister seeks from the National Assembly a waiver not to incur such expenditure. Also, the House passed N238 billion Nigerian Customs Service 2020 budget. The House passed the budget following the consideration of the report laid by the Chairman, Committee on Customs and Excise, Hon. Yuguda Kila.
“That the House do receive the Report of the Committee on Customs and Excise on the issue from the statutory revenue fund of the Nigerian Customs Service, the total sum of ₦238,149,325,832.70 of which the sum of N98,606,217,521.96 is for personnel cost, N15,952,305,336.72 is for overhead cost for the year ending on 31 December, 2020,” it stated.