The Senate Committee on Finance has tasked the government-owned enterprises (GOEs) to surpass the N18.3 trillion revenue target set for the 2024 fiscal year.
President Bola Tinubu had, last month, presented to the joint session of the National Assembly N27.5 trillion as the total projected expenditure for 2024, out of which N18.3 trillion is set as targeted revenue.
The committee chaired by Senator Mohammed Sani Musa (APC Niger), at separate interfaces with the revenue-generating agencies of government, urged them not only to meet up with projected revenues set for them but surpassed them.
“It is heartwarming that based on your submission, NNPC Ltd had within January and October this year, raked in N4.5 trillion as revenue and remitted it into the federation account.
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“But being a fully commercialised company, more of such are needed, particularly in the 2024 fiscal year.
“President Bola Tinubu on his part, in the budget presented to us, clearly demonstrated that deficit budgeting should be eased out by projected less for 2024 (N9.18trillion) as against N13.4 trillion used for such in the 2023 fiscal year.
“This committee in particular, and other relevant standing committees of both the Senate and the House of Representatives will by way of oversight and regular interface with revenue-generating agencies, ensure that required revenues are generated for full implementation of the proposals and programmes contained in the 2024 budget,” Senator Musa said at an interface with the NNPCL, led by its Group Chief Executive Officer (GCEO), Mele Kyari.