Revenue Archives - Parliament Reports

Tinubu government defends borrowing despite surpassing revenue targets

Sharon EboesomiNovember 26, 20245 min

The impressive revenues generated in 2024 raised questions among lawmakers, who queried the government’s continued borrowing There was mild confusion at the National Assembly on Monday over the federal government’s continued borrowing despite the fact that revenue generating agencies have exceeded their targets for the fiscal year 2024. This happened during an interactive session by the joint national assembly committees on finance, national planning and economic affairs on the 2025-2027 Medium Term Expenditure Framework...

Citizens Speak RemTrack

BODIJA BLAST: Illegal mining undermining the economy, environment and now the safety of our communities

Efe IseghohimeJanuary 31, 20246 min

What is the significance or value of having abundant solid mineral resources if Nigeria continues to be ravaged by illegal mining activities, resulting in substantial economic revenue losses, environmental degradation, and the endangerment of lives and property security? In August 2023, four illegal miners were killed following the collapse of a mining site in Kogo Kadage village in the Yadagungume area of Ningi Local Government Area of Bauchi State. Less than 6 months following that...

Citizens Speak RemTrack

PERSPECTIVE: Safeguarding communites in the energy transition

Efe IseghohimeJanuary 22, 20249 min

In a global attempt to phase out fossil fuel, can Nigeria leverage its mineral resources to become a leading advocate for renewable energy, while upholding good climate practice and peace amongst the host communities? On the back of the COP28 Agreement for the world to shift from fossil fuels to renewable energy, it has become necessary to spotlight the mineral resources available in Nigeria that could move the country comfortably from the shackles of fossils...

House of Representatives

Reps promise strict oversight of customs to shore revenue

Elizabeth AtimeDecember 6, 20232 min

The house committee, happy with the recent amendment to the customs and excise law, promised to strictly monitor the revenue generation and remittances of the customs service Nigeria’s House of Representatives Committee on Customs and Excise said it will provide a strict oversight over the activities of the Nigeria Customs Service (NCS) to ensure enhanced revenue generation and remittances to public coffers. Rep. Leke Abejide (ADC, Kogi), Chairman of the Committee, made this declaration at the...

Senate

Senate fumes as NPA evades $1bn query

Sharon EboesomiDecember 6, 20234 min

The NPA may be compelled to appear before the Senate panel to answer queries regarding an alleged one billion dollars revenue leak as well as other huge sums unaccounted for The management of the Nigeria Ports Authority (NPA) has come under fire from the Senate Public Accounts Committee (PAC) for declining invitations to respond to questions on a $1 billion alleged to be missing by the report of the Auditor-General of the Federation (AuGF)....

House of Representatives

Reps tackle varsity commission for non-remittance of revenues

Elizabeth AtimeDecember 5, 20232 min

The varsity commission failed to convince the parliamentary committee that license fees and other revenues it generated were used for the purpose of visitation to private institutions The House of Representatives Committee on Finance has taken a swipe at the National Universities Commission (NUC) for under-reporting and failing to fully remit its Internally Generated Revenue (IGR) despite being fully funded by the federal government. The lawmakers also tackled the Commission over its failure to reflect...

RemTrack

INSIGHT: Oil, revenue and the MTEF benchmarks

Efe IseghohimeNovember 2, 20238 min

Crude oil production is a vital aspect of the MTEF benchmarks upon which the government builds revenue prospects to fund service delivery. Nigeria’s crude oil production is pivotal to its economy. With extensive reserves, which are concentrated primarily in the Niger Delta region, the country is one of the largest oil producers in Africa and a key player in the global energy market. Daily crude oil production in Nigeria has historically contributed significantly to...