Y2021 BUDGET APPRAISAL: LAGOS ASSEMBLY TASKS MINISTRIES ON REVENUE GENERATION
The Lagos State House of Assembly, through its Committee on Finance, has commenced an assessment of the 2021 Budget performance of Ministries and Parastatals for the first quarter.
Speaking during the Committee’s first sitting, its Chairman, Hon. Rotimi Olowo, said the exercise was important to ensure that targets were met as expected.
“The exercise became necessary to ensure that tax payers’ money is judiciously utilised by assessing the progress or default in the budget and to advise where necessary as well as to meet up the target revenue for the year,” Olowo said.
He added that the scrutiny is intended to juxtapose the performance of the first quarter of 2020 with that of 2021 so as to see the possibility of harnessing additional opportunities or addressing any distress.
Hon. Olowo enjoined the MDAs that appeared before the Committee to intensify efforts and avoid virement by all means.
In the course of the scrutiny, the Committee advised the Lagos State Board of Internal Revenue to cast their nets towards the informal sector in other to raise more revenue.
To that effect, Hon. Olowo further suggested that tax clearance be imposed as a requirement from parents in relation to educational admissions and use of health care facilities.
Some of the ministries/parastatals were, however, commended for performing beyond half of their target for the period under review.
Ministries, Departments and Agencies that appeared before the Committee include: the Motor Vehicle Administration Agency, MVAA, the Ministry of Transportation, the Lagos State Internal Revenue Service and the Lagos State Lotteries Board.
The one week exercise will be ending on the April 21, 2021.
Lawmakers who graced the sitting are Hon. Nurudeen Sholaja, Hon. Gbolahan Yishawu, Hon. Lukman Olumoh and Hon. Rasheed Makinde.