Buhari gives New Year verdict to revenue-generating agencies, reveals what will happen to defaulters

Buhari gives New Year verdict to revenue-generating agencies, reveals what will happen to defaulters

- President Muhammadu Buhari warns revenue generating agencies to meet their targets

- The president made this known on Thursday, December 31, in Abuja

- Buhari, however, said that any MDA that fails to meet its target would be sanctioned

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President Muhammadu Buhari has warned ministries, departments and agencies of government saddled with the task of generating revenue generation to work hard to meet their targets or be sanctioned.

Legit.ng reports that the special assistant to the president on social media, Lauretta Onochie, said that Buhari issued the warning on Thursday, December 31, after signing the ₦13.588 trillion 2021 Appropriation Bill and the 2020 Finance Bill into law.

‘Deliver on targets or get sanctioned’ - Buhari warns revenue generating agencies
President Muhammadu Buhari signs the 2021 Appropriation Bill into law in Aso Villa. Credit: @Laurestar
Source: Twitter

She quoted Buhari as saying:

“We are intensifying our domestic revenue mobilization efforts so that we can have adequate resources to fund the 2021 budget.
“Revenue generating agencies, and indeed all ministries, departments and government-owned enterprises, must work very hard to achieve their revenue targets, control their cost-to-revenue ratios, as well as ensure prompt and full remittance of revenue collections."

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“Relevant agencies are to ensure the realization of our crude oil production and export targets. Heads of defaulting agencies are hereby warned that they will be severely sanctioned. I also appeal to our fellow citizens and the business community, at large, to fulfil their tax obligations promptly.”

Onochie added that Buhari expressed delight that despite disruptions occasioned by the COVID-19 pandemic, the 2020 budget implementation passed previous thresholds.

“In spite of the adverse impact of the Coronavirus Pandemic on the nation’s economy and the Government’s revenues, we have made appreciable progress in the implementation of the 2020 Budget.
“As at December 2020, we had released about N1.748 trillion out of a total of the N1.962 trillion voted for the implementation of critical capital projects, representing a performance of about 89.1%.
“The overall performance of the 2020 Budget currently stands at an impressive rate of 97.7%. This commendable outcome underscores the importance of our efforts, together with the Legislature, to return to the discipline of a January-to-December fiscal year.

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“The minister of finance, budget and national planning will provide further details on the 2020 Budget’s performance, in due course.”

President Buhari also commended the National Assembly for completing the important appropriation process in good time.

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Meanwhile, Legit.ng had previously reported that following the allegation of nepotism levelled against President Buhari by Bishop Matthew Kukah, discussions on which zones have the most representation in the president's appointment resurfaced again in the social media.

It was reported that at the state level, Ogun state has the highest number of political appointments made by President Buhari since his re-election in 2019 holding 17 out of a total 190 appointments at the time the report was filed.

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Source: Legit

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