Chairman Senate Committee on Finance, Mr John Eno, says he is also concerned about why the 2017 Budget had no correlation to that of 2018.
The Nigerian Senate may be in for a battle with the Minister of Finance, Mrs Kemi Adeosun, on Federal Government’s insistence on passing the 2018 Budget in January.
The Senate is claiming that 50% of the 2017 budget has not even been implemented and wonders why the ‘rush’.
Concerns are also being raised by the Chairman, Senate Committee on Finance, John Eno, about why the 2017 Budget had no correlation to that of 2018.
At the budget defense on Tuesday, Eno wanted explanations on how the ministry achieved 64% budget performance in 2017 when other Ministries, Departments and Agencies (MDAs) were nearly scratching below 40%.
In response, Mrs Adeosun said the ministry was working to raise all the MDAs to 50% performance before the end of the year.
On leakages in Federal Government earnings, she said the ministry would look into other agencies, outside the Federal Inland Revenue Service, that could augment earnings as pointed out.
“We have taken on board some key reform initiatives. A total of 306 billion Naira is expected from privatisation and 5 billion Naira from sale of other government’s property to finance the deficit.”
She said oil revenue would contribute 37% of the total revenue of 6.6 trillion Naira.
Others, according to her, are recovered looted funds, 7.8%; tax amnesty, 1.3%; signature bonus, 1.7%; joint venture equity restructuring, 10.7%; grants and donors funding, 3% and others, 5.5%.