From Ndubuisi Orji, Abuja
The Chairman of the Fiscal Responsibility Commission (FRC), Victor Murako, has said it recovered N23.6 billion from Nigeria Communications Commission (NCC) and many more from other federal government revenue-generating agencies.
Murako stated this on Monday when he appeared before the House of Representatives Committee on Finance, to defend the agency’s 2023 budget estimates.
He said the commission was not resting its effort to boost government revenue, noting that through its efforts, the parliament was able to raise the estimate for independent revenue for 2023 to about N2 trillion.
Murako said, “total appropriation for 2022: N1,069,387,999. As of October 21, 2022, Capital budget release: N306,571,035, representing 50 per cent of the total capital appropriation. N164,364,442 representing seven months of overhead cost released…at 58.30 per cent. Personnel cost of N127,100,866 representing nine months released and operated by the IPPIS as controlled by the accountant-general, 2.8 per cent.
“The committee has contributed modestly but sincerely to the Consolidated Revenue Fund by way of IGR, Withholding Tax, Value Added Tax and Stamp Duty in the sum of N331,519.75k. I want to put it on record that the most important aspect of our revenue contribution is our efforts in the area of independent revenue. We have been working with you. It is on record that as of 2020, the CRF earned independent revenue of N528bn. Last year, 2021, the revenue mark of this nation hit N1.2 trillion for the first time in the annals of Nigeria’s history. The Fiscal Responsibility Commission is not resting. As we speak, as of the end of July this year, the independent revenue of the Federal Government has been able to rake up to N725 billon and we are still counting.
“We are saying that without the efforts of this commission and how we are working with you and the Red Chamber, I don’t think this country would have ever been able to recover these sums of funds. In one particular effort, we recovered billions from other agencies, a lot of them. You know, it is on record that we recovered N23.6 billion from NCC. Mentioning these agencies before the press is part of what we are trying to avoid. Some of these issues will come after you and they will think you are taking them out personally. It is on note that we have done a lot to improve the revenue of this nation.”