The House of Representatives on Friday approved the budget of the Nigerian Customs Services (NCS) with the approval of the sum of N9.4billion for the completion of the head office complex of the service.
Reports say the House Committee on Supply approved a total budget of N283.1billion of the Customs for the year 2020 and according to the budget of the service, the N9.4billion will be from the target surplus of revenue made by customs.
Also, the House Committee on Finance said it will henceforth be receiving weekly and monthly reports on revenue generation and remittances from Ministries Departments and Agencies (MDAs).
This was revealed in a statement on Friday by James Abiodun Faleke, the Committee Chairman who said that the committee will commence work on the N10.59 trillion 2020 budget from January 16th, 2020.
Faleke said: “With the passage and signing of the 2020 Appropriation Act, the House Commit Finance wishes to commend all members of the House for the time spent to work on all source documents towards the passage of the Appropriation Act”.
He also informed that; “the “Appropriation Act” remains a plan on paper and can only become reality if funds are available for the execution of the projects contained in the Act.
Faleke further added that; “The plan will not come to fruition if the appropriated revenue are not generate and remitted to the appropriate Government Accounts. The Committee on Finance whose key area of oversight is revenue generation and remittances has the job of ensuring these revenues are achieved and remitted accordingly.”
Meanwhile, the report on the funds approved for the customs reads, “That the Share of Target Surplus for year 2020 of Nine Billion, Four Hundred Million Naira (₦9,400,000,000.00) only be approved for the Nigeria Customs Service to complete the Head Office Complex.”
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The House approved N98billion for personnel cost, N15.9billion for overhead cost and N123.4billion for capital expenditure.
The approval of the budget for the completion of the customs head office complex is coming in the wake of the controversial N37billion approved for the renovation of the National Assembly in the 2020 budget.
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