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The Buhari government is set to implement a new performance management framework for revenue generating agencies.
The move is meant to block loopholes that cause under remittances by the agencies.
Director-General, Budget Office of the Federation (BoF), Ben Akabueze, told newsmen in Abuja yesterday that some ministries, departments and agencies (MDAs) generate revenue, but failed to remit to the Consolidated Revenue Fund (CRF).
He said: “Several MDAs generate revenue but do not remit to the CRF, and it’s one of our major area of focus as we are going forward.
“We are working to design and implement a new performance management framework for these MDAs and state-owned enterprises that will see them contributing.
“We have refused to take the part of reducing the revenue projection from them. In the 2016 Budget, we projected a very ambitious N1.5 trillion for these agencies.
”By the time the year was over, we recorded less than N400 billion. In 2017, we took a hard look and realised that we were being overly ambitious and we reduced the projection to N807 billion.
“The full year fiscal numbers are not out and I know that there is still a significant under-performance.
”For 2017, we put N847 billion, and a number of people has questioned the rationale for that decision, but we think that it’s important to answer the question fundamentally.”
”N847 billion is simply asking for a two per cent return on investment.
“We’ve chosen to hold fire on the target and to engage with these agencies to drive the performance and say this is not acceptable,” Akabueze said.
On whether the 3.5 per cent growth projection for 2018 was realistic considering the impact of the farmers/herders crisis, Akabueze said ”First of all, these are localised occurrences.”
”As worrisome as they are, we do not think they will have such pervasive and adverse impact on the agriculture sector as to pulling down significant overall growth projection,” he noted.
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