THE EXECUTIVE 14/06/2022
Increase In Government Expenditure Placing FG Revenue Under Serious Risk, Says Ag. AGF
The Federal Government has cried out that its revenue is under serious attack. Acting Accountant General of the Federation (Ag. AGF) Mr. Chukwuyere N. Anamekwe made this disclosure in Abuja on Tuesday at the retreat for members of the Technical Sub-Committee on Cash Management organised by the Office of the Accountant General of the Federation (OAGF).
Anamekwe attributed the attack on government revenue to “an increase in government expenditure due to increasing security challenges and social needs of the citizenry”.
To address these challenges, the Ag. AGF called for “an articulated deployment of fiscal discipline and strategies that will help mitigate these challenges”.
According to him: “Now that these challenges stare us in the face, you are all expected at this gathering to come out with ideas that will push us through”.
He urged public sector cash managers to identify the challenges to revenue generation and other means of enhancing inflow into Federal Government coffers; ensure the cutting down the cost of governance in the most acceptable way. He however warned that “there must be a limit to cost cutting”.
The Ag. AGF also told cash managers to ensure synergy amongst and within stakeholders in the sub- committee as well as ensuring that the sub-committee gives quality and profitable advice to the Federal Cash Management Committee.
Representative of the Central Bank of Nigeria (CBN) Governor, Hussaini Kagara, of the Banking Services Department told participants to take advantage of the papers that would be presented to “know how we can maximize our revenue base”.
He urged the participants to come up with “ways to block loopholes and ideas to deal with the revenue issues affecting the Nigerian economy”.
According to him: “I urge you to come up with suggestions that can help government manage expenditures”.