BY RAPHAEL EKPANG,ABUJA
The Senate committee on Trade and Investment has urged agencies under trade and investment to increase their internal revenue generation if they must meet up with the current challenges.
Chairman senate committee on trade and investment, DR. ROSE OKO representing CROSS RIVER NORTH at the National Assembly made the called on Monday during budget defense.
According to her, most agencies are facing serious challenges of internally generating revenue, such the re-occurrence deficit in their yearly budget.
“What we want to see from these agencies is how they can be generating revenue internally to solve most of the problems arising from the non-release of appropriation by the federal government on time.
“We want them to show us how they can achieve that at the committee level, while we study the 2020 budget proposal to enable us allocate the right sum to them,” she said.
Meanwhile, the senate committee on trade and investment advised all the agencies that appeared before it on Monday to spent money at their disposals within their limit to avoid the re-occurrences of deficit in their yearly budget.
DR. ROSE OKO revealed in an interview with sunrisetimes.com.ng that the committee will play along with the figures to enable the agencies clear their deficit before next year budget defence.
Sunrisetimes.com.ng can authoritatively reveal that the CORPORATE AFFAIRS COMMISSION, CAC has a deficit of about N4 billion for the past four years among others.
