The House of Representatives Committee on Finance has directed the Nigeria Ports Authority (NPA), to avail it with details of how six of the nation’s seaports were offered on concession.
The committee at its resumed engagement with federal government agencies on the 2022 budget plans, Wednesday also grilled the Federal Inland Revenue Service (FIRS), and the National Lottery Regulatory Commission (NLRC) over dwindling revenue generation into the federation account.
The agencies were further queried over their respective 2019, 2020 and 2021 budget performances, with panel demanding details of their expenditure profiles for the three years under review.
Chairman of the House Committee, James Faleke and other committee members had scrutinised the the revenue profiles of the MDAs during the meeting on the Medium Term Expenditure Framework MTEF and the Fiscal Strategies Paper, covering 2022 to 2024.
On the revenue profile of the FIRS, the members noted that the agency’s documents had shown that it had racked in N6.4 billion from many sources including personnel income tax, company tax and electronic transfer levy among others.
They queried why there was a decrease of 33. 8% from the revenue profile of the agency in 2021 from the projected figure in the agency’s budget, saying it was expected to surpass its revenue target.
In response, Executive Chairman of the FIRS, Mr Mohammed Nami said that the total sum of revenue generated in 2021 was N10.1 trillion, adding that the agency had deployed technology is its revenue drives and had remitted about N7 trillion into the federation account as Value Added Tax (VAT).
