FG Reveals Revenue Received From MDAs In February | SEE DATAS
AFNEWS Reporter
Apr 13, 2024
FG Reveals Revenue Received From MDAs In February | SEE DATAS
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The Minister of Finance and Coordinating Minister of Economy, Wale Edun, has announced the earnings (Revenue) of government-owned entities, ministries, departments, and agencies in February.
According to him, the revenue rose to N835.70 billion in February, 2024.
There was a notable growth of N681.45 billion, representing a substantial 441.78% surge from the N154.25 billion remitted in the 2022.
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The Minister made the disclosure during a presentation titled "Reconstructing the Economy for Growth, Investment and Climate Resilience DevelopmentÔÇØ at the Lagos Business School Breakfast Club, the minister made this statement.
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"There is an increasing revenue contribution of MDAs and GOEs, growing from 154.25 in February 2023 to 835.70bn in February 2024 through an automated two-times daily sweep of 50 per cent of MDAs and GOEs IGR since January 2, 2024.
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"We have set out a robust execution plan for a 78 per cent y-o-y increase in budgeted revenue in 2024, but implementing enhanced the government's revenue assurance model is critical with a target budget deficit of 3.9 per cent of GDP from 6.1 per cent in 2023.
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"We have taken prudent expenditure measures by minimising unnecessary redundancy, reducing leakages through digitisation and eliminating inefficiencies.
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"There is also a revamped process for the commencement of 2024 capital expenditure payments for MDAs and GOEs, which is through direct payments to contractors while promoting a government-wide cost curtailment culture across all MDAs & GOEs,ÔÇØ he said.
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SOURCE: DAILY POST
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— AFNEWS Reporter