The Nigerian Senate has urged Heads of Ministries Departments and Agencies of Government to focus on shoring up its Revenue generation and ensure value for money in order to reduce the Country’s budget deficit and Limit the Federal Government’s dependence on Borrowings.
This formed the Outcome of a one Day retreat on the 2024 Appropriation Bill organized by the Senate’s Committee on Appropriation to Orientate Miniseries Departments and Agencies of Government on what is expected of them for improved outcomes from the 2024 Budget implementation.
It is the First week of Budget Defence Sessions for the 2024 Appropriation Bill.
The National Assembly is packed Full as Ministries Departments-and Agencies appear before standing committees to defend their Budget performance for 2023 and proposed Estimates for 2024.
This one day retreat by the Senate’s Appropriations committee also compliments efforts to open up the 2024 budget process for improved stakeholder’s engagement and feedback.
Stakeholders highlight the importance of creating a template to guide MDAs to implement a pool of fundable projects for improved revenue Generation and make the Financial system stronger.
The Lawmakers in their contributions emphasize the need for MDA’s to capitalize on the Country’s 5.6 Trillion marketable assets to encourage investment , increase Government’s Revenue Drive and ensure value for money.
