OrderPaperToday – President of the Senate, Bukola Saraki has decried the low remittance of Ministries, Departments and Agencies into the Consolidated Revenue Fund (CRF).
Saraki’s reaction followed a presentation by the Senate committee vice chairman on Science and Technology, Senator Bashir Marafi on the harmonised report of the 2017 internally generated revenue and expenditure of Raw Materials Research and Development Council on Wednesday.
The President of the red chamber said of the MDAs: “They put up their expenditure in order to spend all the money on independent revenue which is about 11 trillion, the budget is only 7 trillion and out of the 7 trillion, the percentage that goes back to government coffers is negligible.
“The point is that if we can see significant percentage coming back to the CRF we would not be borrowing money. Now we must set a new direction that these agencies, there must be minimum percentage. Someone who generating N5 billion is saying what he can contribute N36 million.”
The red chamber accordingly stepped down the report of the committee because it lacked overhead actual of 2016 on both capital and overhead.