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2014 Budget: House suspends consideration of revenue framework

By BusinessNews Staff on March 1, 2014

In anticipation of the responses to the 50 questions on the state of the economy expected from the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, the House of Representatives Committee on Finance yesterday suspended the consideration of 2014 budget revenue framework.

The public hearing on the 50 questions, which commences on Monday, would be declared open by the House Speaker, Aminu Tambuwal, as the continuation of the 2014 budget revenue framework resumes after the hearing.

Prior to yesterday’s ruling with regard to the state of the economy, various revenue generating agencies and independent revenue generating agencies have appeared before the committee with a view to presenting updates on the

status of revenue generation, collections and remittances between the 2011 and 2013.
The Clerk of the Committee, Farouk Dawaki, indicated in a statement that the suspension had vitiated the planned appearance, for the same purpose, of the finance ministry, Director-General, Budget Office, Office of the Accountant General, Nigerian National Petroleum Corporation (NNPC), Nigeria Customs Service (NCS), among others

“The suspension is informed by the committee’s decision to first conclude work on the state of the economy investigative hearing scheduled to ascertain the true state of our economy and robustly engage the Coordinating Minister for the Economy and Minister of Finance on her responses to our 50 questions,” Dawaki stated.
Members of the committee, the statement added, are “fully determined in our resolve to once and for all unravel the authentic state of our economy,” as “relevant stakeholders, interest groups and the public have already been invited to submit memoranda.”

[Vanguard]

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