Nigeria is set to harness seabed resources -Peterside nimasa

NIMASA, JAMB remit huge revenue to Federal Government

The Minister of Finance, Mrs Kemi Adeosun on Tuesday commended the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Joint Admissions and Matriculation Board (JAMB), for making noteworthy improvements on their remittances to Government.
The Minister highlighted this in Abuja at a workshop on “Compliance with the Fiscal Responsibility Act’’, organised for senior officers of the MDAs.
She vehemently urged all heads of Ministries, Departments and Agencies (MDAs) to minimise cost and increase revenue generation.
Delivering a keynote address titled “The Business of Government”, Adeosun also charged them to recognise the current financial priorities of the nation to cut their costs, eliminate wastage and plug revenue leakages.
She maintained that many agencies currently engaged in quasi commercial activities on behalf of government and were expected to manage those organisations in prudent manner had failed to maximise operating surplus.
Adeosun said in other countries, government functions such as visa processing, passport issuance, company registration and regulation were major revenue earners.
“However, in Nigeria many agencies are operating in such a manner that returns minimal funds to government.’’
She said this was caused mainly by wastage, illegal recruitment, bloated expenses, loans to staff and employment of expensive consultants.
She encouraged other agencies to urgently review their costs and revenues with a view to increasing remittances to government coffers, adding that the Ministry of Finance is set to publish the performance of agencies.
Adeosun, however, warned agency heads that under the present administration, every naira was important, adding that whether funds were generated from oil or from fees, the same standard of accountability for public money would apply.