2020 Budget: Reps to monitor revenue generation, remittance

The House of Representatives Committee on Finance will be receiving weekly and monthly reports on revenue generation and remittances from Ministries Departments and Agencies (MDAs) to monitor the revenue projections in the 2020 budget.

This was disclosed by the Committee Chairman, James Abiodun Faleke in a statement, adding that, the committee will commence work on the N10.59 trillion 2020 budget from January 16th, 2020.

He said: “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”.

Faleke informed that, the “Appropriation Act” remains a plan on paper and can only become reality if funds are available for the execution of the projects contained in the Act.

He added: “The plan will not come to fruition if the appropriated revenue are not generate 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”.