The National Assembly Joint Committee on Finance has issued a stern warning to the Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA), and the Federal Inland Revenue Service (FIRS) regarding their failure to attend scheduled budget defense meetings for the 2025 fiscal year.
During a recent session, lawmakers expressed their frustration over the agencies' neglect of invitations to present their budget proposals and revenue profiles. In light of this, the committee has set a 48-hour ultimatum for these agencies to appear before them or face severe consequences, including the withdrawal of government funding for their operations in 2025.
Senator Sani Musa, Chairman of the Senate Committee on Finance, emphasized that this directive aligns with President Bola Tinubu's mandate for all ministers and agency heads to defend their budgets before the National Assembly. "The refusal of these agencies to comply undermines accountability and governance," he stated.
The affected agencies are part of a broader list that includes other significant revenue-generating bodies such as the Nigerian Postal Service (NPS), Nigerian Railway Corporation (NRC), and several others. The committee's decision reflects a commitment to ensuring transparency and effective management of public funds.
Chairman of the House Committee on Finance, James Faleke, reiterated the importance of this budget defense exercise, which aims to enhance revenue generation and reduce reliance on borrowing. "If these agencies refuse to appear before us, we will take necessary actions," he warned.