The House of Representatives has said it will begin the monitoring of the implementation of the 2020 budget, signed on Tuesday by President Muhammadu Buhari on January 16, 2020.
The Chairman, House Committee on Finance, James Faleke, who stated this in a statement yesterday, said the Committee will receive weekly /monthly reports on revenue generation and remittances to monitor the revenue projections in the 2020 budget.0
Consequently, Faleke has charged all Ministries, Department and Agencies (MDAs)to cooperate with the House, in its quest to ensure effective monitoring of the 2020 Appropriation Act.
“With the passage and signing of the 2020 Appropriation Act, the House Commit Finance wishes to commend all members of the House for the time spent to work on all source documents towards passaging the Appropriation Act.
“The Appropriation Act remains a plan on paper and can only become reality if funds are available for the execution of the projects as contained in the Act.
“The plan will not come to fruition if the appropriated revenue is not generated and remitted to the appropriate Government Accounts.
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“The Committee on Finance whose key area of oversight is revenue generation and remittances has the job of ensuring these revenues are achieved and remitted accordingly.
“The Committee on Finance will also use the new Federal Government transparency initiative on expenditure disclosure by MDAs to ensure extra budgetary expenditures are curtailed to enhance revenue remittances to the treasury”, the lawmaker stated.
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