Speaker of the House of Representatives, Femi Gbajabiamila has warmed revenue generating agencies of government to desist from under remitting revenue generated to the Federation account.
The Speaker said credible information available to the parliament revealed that in list cases, revenue that are supposed to be remitted to government coffers are diverted to finance unnecessary trivialities.
Speaking at the commencement of an interactive session on the 2021 to 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper submitted to the parliament by the President, the Speaker said while revenue generated are not remitted to the Treasury, the government is left to go no borrowing to fund its activities.
The Speaker said “Out country is currently facing a fiscal crisis, compounded by the intense disruption that has been wrought on our economic performance and financial projections by the COVID-19 pandemic. We are not the only ones.
“Nations all over the world, including those we rightly consider to be leading lights, are facing a moment of reckoning that is redefining the way Government operates. Already, we have had to carry out severe cuts to the 2020 Appropriation Act, while at the same time borrowing more to fund urgent development needs and implement interventions to help the most vulnerable of our citizens get through these trying times with some dignity.
“All of us in the House of Representatives recognise that the challenges we now face will not abate in the medium term. Yet, we are committed to using the appropriations process as a tool for accomplishing our nation’s most pressing development objectives.
