By Sadiq Umar – The Senate on Wednesday urged revenue collecting agencies to ensure timely remittance of funds collected into the Federation Account, saying delayed transfer affects speedy implementation of the budget and ultimately stall the development of economic activities.
The Senate also called for timely disbursement of funds to federal, states and local government councils after monthly allocation meetings.
President of the Senate, Ahmad Lawan, made the call in Abuja at a meeting with some of the revenue collecting agencies.
Agencies present at the meeting include Federal Inland Revenue Services (FIRS), Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and Nigeria Custom Service (NCS) among others.
According to the Senate President, timely collections and disbursement of funds would determine the attainment of the next levels of agenda of the federal government.
Mr. Lawan said the senate is committed to passing the 2020 budget before the end of 2019, adding that timely disbursement funds would also facilitate the implementation of the budget.
He said the senate would look into factors militating against timely transfer of funds into the federation account.
Mr. Lawan said the senate is determined to serve Nigerians, adding the National Assembly is ready to help resolve challenges affecting the agencies.
“We have been voted to make Nigerians feel the impact of government, the economy must work, and it will work when collections and disbursement of funds are made.
“But we are going to insist that the right things are done, the right thing is that you transfer the money in good time.
“Call FACC meeting at the right time, Federal Ministry of Finance should disburse the resources to the MDAs at the right time,” Mr. Lawan said.