Sokoto River Basin, others may be scrapped over yearly low revenue generation

Sokoto Rima River Basin Development Authority (SRRBDA), others may be scrapped over their liabilities to the Federal government of Nigeria.

The Senate Committee on Finance stated this at a ‘Five Day Interactive Session’ with Ministries, Departments and Agencies of Government on the Medium Term Expenditure Framework, 2023 – 2025 which started on Tuesday in Abuja.

The Committee after listened to the presentation by the Managing Director of Sokoto Rima River Basin Development Authority, Engineer Buhari Bature Mohammed who revealed that the agency got N7 billion from the Federal Government annually, but generated a paltry sum of N7 million got angry.

Reacting to the presentation, Chairman of the Committee, Senator Solomon Adeola Olamilekan stated that the ‘Stephen Orosanye report’ should be applied on agencies with yearly low revenue generation.

The report, CAPITAL POST recalled recommended about 400 agencies of government for merger or outright scrapping in order to cut cost.

The committee through the Chairman, also threatened zero budget allocation in year 2023 for any agency whose accounting officer refused to honour the ongoing interface on revenue generation .

Governor of the Central Bank of Nigeria , Godwin Emefiele and Group Managing Director of Nigerian National Petroleum Corporation Limited , Mele Kyari failed to appear before the committee as directed on Tuesday by the Chairman.

Meanwhile, the Committee Chairman earlier in his address on Tuesday revealed that the sum of N19.6 trillion would be presented by President Muhammadu Buhari as the 2023 annual budget after the resumption of lawmakers from their annual recess, out which N11.96 trillion would be borrowed.

According to him, more than 70% will be borrowed to finance the N19.6 trillion budget, hence, the parliament will take drastic action to reduce unnecessary expenditure.