Sunday, October 17, 2021

FG To Sanction MDAs That Fail To Meet Revenue Targets.

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The Federal Government has unveiled plans is to sanction Ministries, Departments and Agencies that fail to meet revenue targets.

The minister of finance, Budget and National Planning Zainab Ahmed made this known at the Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill in Abuja.

According to her the decision is part of efforts to boost revenue performance and remittance of government-owned enterprises.

She further said the agencies were limited to spending not more than 50% of what they generated.

Ahmed stated that there was a robust monitoring mechanism in place, which would help in assessing the performance of agencies, while saying that the new plan to sanction them for revenue target failure would be included in the Finance Act 2021 or as a directive from the president Muhammadu Buhari.