The Federal Government has said Ministries, Department and Agencies have been directed to generate N886 billion as Independent Revenue per annum in 2018. The Acting Chairman, Fiscal Responsibility Commission (FRC), Victor Muruako stated this on Tuesday in Abuja at a stakeholders’ dialogue session with the management of the Federal Radio Corporation of Nigeria (FRCN), led by its Director General, Malam Mansur Liman.
He explained that if the Ministries, Departments and Agencies (MDAs) adhered to the Fiscal Responsibility Act (FRA), they would be able to make the remittances easily, stressing that the Federal Government would in turn not have to borrow for overhead, but for capital projects only.
“We are looking forward to a time within the shortest possible time when the national appropriation will be funded internally by the government agencies.
“The president at the presentation of the 2018 budget lamented the shortfall in the independent revenue of the Federal Government. He specifically said that as at October 2017, the independent revenue of the Federal Government had failed to reach up to the 25 per cent target.”
