2025 budget: Senate threatens zero allocation for defaulting MDAs
The Senate, through its Finance Committee, has issued a stern warning to the Federal Government’s Ministries, Departments and Agencies, threatening zero allocations in the 2025 budget for those that fail to appear before it to account for funds allocated in the 2024 fiscal year.
The committee, during its session on Monday, expressed dissatisfaction with irregularities discovered in the financial records of several agencies.
The warning emerged during an investigative hearing on Internally Generated Revenue, Fiscal Accountability and Nigeria’s Financial Management System.
The committee’s Chairman, Senator Sani Musa (APC, Niger East) in his closing remarks after an interface with the Accountant-General of the Federation, Oluwatoyin Madein, said, “This performance index exercise on the various MDAs is preparatory to the 2025 budget. Any agency that fails to appear before this committee upon invitation, risks zero allocation in the 2025 budget because records of how appropriations made for 2024 are expended, (and) must be provided with facts and figures.”
The AGF had, before the threat, presented a summary of IGR for the Federal Government up to September 2024.
The reported figures included independent revenue of ₦2.7 trillion; operating surplus from government-owned enterprises amounting to ₦2.3tn; and Ministries, Departments and Agencies’ IGR of ₦344 billion.
However, the committee noted that the submitted report
