The federal government is set to introduce a new performance management framework for revenue generating ministries, departments and agencies MDA’s in the country.
Ben Akabueze, the Director-General, Budget Office of the Federation said many MDAs generate revenue but do not remit to the CRF, and it’s the responsibility of the Budget office to correct the trend.
“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.