The National Assembly Joint Committee on Finance has issued a 48-hour deadline to several revenue-generating agencies, requiring them to appear for the defense of their 2025 budgets.
Failure to comply could lead to the exclusion of these agencies from government funding in the 2025 fiscal year.
The ultimatum comes after repeated absences of agencies, including the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS), Nigerian Postal Service (NPS), and Nigerian Railway Corporation (NRC), among others, during the budget defense sessions.
Senator Sani Musa, Chairman of the Senate Committee on Finance, expressed dissatisfaction over the agencies’ refusal to present their revenue profiles and performance reviews, emphasizing President Bola Tinubu’s directive for budgetary transparency.
“The President has instructed all ministers and agency heads to defend their budgets before the National Assembly.
“This directive is crucial for accountability and governance,” Musa stated during the session.
He warned that agencies failing to comply within 48 hours would face recommendations to withhold their budget allocations.
Self-funded agencies risk having their funding suspended by the Minister of Finance and the Accountant General of the Federation.
The Chairman of the House Committee on Finance, James Faleke, underscored the importance of the budget defense process, which aims to enhance revenue generation and reduce borrowing.
“If these agencies continue to ignore our invitations, we will take decisive actions to ensure accountability,” he said.
Additional agencies under scrutiny include the Nigerian Civil Aviation Authority (NCAA), Standard Organisation of Nigeria (SON), Tertiary Education Trust Fund (TETFund), and the National Agency for Food and Drug Administration and Control (NAFDAC).
Others include the National Insurance Commission and the Transmission Company of Nigeria (TCN).
In a related development, the Senate has adjourned plenary until January 28 to allow ministries, departments, and agencies (MDAs) to defend their allocations under the N49.7 trillion 2025 Appropriation Bill.
The motion, moved by Deputy Senate Leader Senator Ashiru Oyelola, was approved by Senate President Godswill Akpabio.
Lawmakers have reiterated their commitment to ensuring strict accountability in the appropriation process, warning of significant consequences for non-compliant agencies.
