Lingering Feud Between NNPC, States Indications Of Huge Revenue Leakages In The Economy- Speaker Dogara

The   continuous face-offs between the Ministry of Finance, Nigeria National Petroleum Corporation (NNPC), State Governments and revenue generating organs of the Federal Government on the other hand, emphasise the gravity of revenue leakages in our economy, Speaker of the House of Representatives, Hon Yakubu Dogara, has said.

Speaking at the National Assembly, during an investigative hearing organised by the ad-hoc committee set up to cause investigation into the activities   of   Ministries,   Departments,   Agencies  and   other institutions   responsible   for   revenue   remittances   into   the Federation Account and other matters arising in such regard, he stated that attaining economic growth and development and reviving dwindling oil fortunes cannot be achieved unless all revenue leakages are blocked.

He said, “You   may   all   recall   that   the  Federation  Account Allocation Committee meeting in July was stalemated, two or three times, due to controversies over unremitted revenue.  This led to delays in the payment of salaries by the Federal and State Governments and other budgetary expenditures in most Federal Government Agencies   and   Establishments.   The   continuous   face-offs   with respect to revenue remittances and figures between the Ministry of Finance and NNPC on one hand as well as State Governments and revenue generating organs of the Federal Government on the other hand, only show some of the many instances of unending issues of revenue leakages in our economy.

“With the dwindling oil fortunes, and the spirited efforts being made in the country to diversify our economic base, there is no gain saying the fact that closing up leakages in our system has become imperative if we must grow our economy and accelerate the   development   of   the   country   at   this   period   of   economic downturn.

“At   this   period,   when   government   is   making   efforts   towards diversifying the economy in order to reduce the country’s over-reliance on   the   oil   sector,   it   is   disheartening   to   hear   repeated allegations of   non-remittances of huge   amounts of revenue by Agencies required generating and managing our revenue.  ”

Hon Dogara also disclosed that the report expected from the committee would guide the House to make appropriate resolutions with a view to averting further under-remittances of revenue to the Federation Account, if any.