MMSD and Other MDAs rake in N11.5b into Consolidated Revenue Fund

About N11.59 billion was remitted as independent revenue into the Consolidated Revenue Fund in 2017, a report by the Fiscal Responsibility Commission has said.
The 2017 Annual Reports and Audited Accounts of the organisation made available to the News Agency of Nigeria on Wednesday in Abuja, said 21 Ministries, Departments and Agencies of the Federal Government remitted the said amount.
According to the report, it is an improvement on the N8.27 billion remitted by 21 MDAs in 2016.
MDAs with the highest remittances were the Ministry of Mines and Steel Development with N3.92 billion, Ministry of Environment with N3.83 billion and Federal Road Safety Corps with N1.81 billion.
It said the Ministry of Industry, Trade and Investment remitted N730.6 million, National Office for Technology Acquisition and Promotion remitted N454.8 million, Ministry of Works N190.9 million, Ministry of Justice N138.9 million and Ministry of Labour and Productivity N134.3 million.
Others are the Independent National Electoral Commission with N106.5 million, National Judicial Council N52.77 million, Office of the Secretary to the Government of the Federation N40.86 million, Office of the Auditor-General of the Federation N30.88 million and Ministry of Information N30.47 million.
The report added that the National Sports Commission remitted N27.47 million, National Assembly Service Commission N20.2 million, Ministry of Youth and Sports Development N17.39 million, Ministry of Health N14.08 million and National Emergency Management Agency N10.22 million.
The lowest remittances came from the Ministry of Education with N7.18 million, National Youth Service Corps N6.40 million and Ministry of Science and Technology, which remitted N1.72 million.
The organisation said it sent out requests to MDAs to submit revenue returns on a quarterly basis to assess their level of compliance with the Fiscal Responsibility Act, 2007, but the response was not encouraging.
The FRC said: “Available data on revenue obtained in the previous years revealed that the MDAs had been defaulting in the remittance of their Internally Generated Revenues to the Federation Account/CRF.
“As part of efforts to improve the response rate, the commission is holding interactive stakeholders’ forum with scheduled corporations.
“This will encourage the MDAs to realise expectations and provisions of the Act and the need to fully comply.”
The report said it would also ensure higher revenue remittances to the treasury in the years ahead.
The FRC was established by the FRA to provide for prudent management of the nation’s resources.
by administrator News