The speaker of the house of Representatives Rt. Hon. Femi Gbajabiamila has read the riot act to Ministries, Departments and Agencies over continuous diversion of funds meant for infrastructural development.

The speaker said this while declaring open a 5-day interactive session organised by the joint house committees on Finance, Appropriation, National Planning and economic development, Aids, Loans and management on the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscals Strategy Paper (FSP)

Making reference to the covid-19 pandemic, Femi said the country is currently facing a fiscal crisis compounded by the intense disruption that been wrought on economic performance and financial projections.

He added that Nigeria is not the only country going through difficult times as other countries who are considered to be leading in all aspect of developments are facing a moment of reckoning that is redefining the way Government operates.

The speaker said ‘Already, we have had to carry out severe cuts to the 2020 Appropriation Act, while at the same time borrowing more, to fund urgent development needs and implement interventions to help the most vulnerable of our citizens get through these trying times with some dignity.’

Femi reiterated that the House of Representatives recognises that the challenges facing the country will not abate in the Medium term. The House is however committed to using the appropriations process as a tool for accomplishing the nation’s most pressing development objectives.

‘ We have a responsibility to act with urgent determination to build the infrastructure of opportunity that is required to lift millions of our fellow citizens out of poverty. We recognise that we cannot accomplish these objectives using loans and outside financing alone. Therefore, we need impose deep cuts in the cost of governance and improve internal revenue generation and collection so that we can free up resources that can then be deployed to fund policy initiatives that will enhance the lives of our people.’ he said

The speaker further emphasised that revenue-generating agencies have a vital role to play in this regard. He added that There has thus far been a consistent failure to adhere to the revenue remittance agreements to which many of these agencies have committed.

‘We have credible reports that these desperately needed funds have in many cases, been diverted to finance unnecessary trivialities. At the same time, the Government is left scrambling for alternative sources to fund priority projects. We cannot afford this dynamic, and we will not tolerate it any more.’ he said

Gbajabiamila said the legislature remains the keeper of the public purse, with broad constitutional authority to act on behalf of the Nigerian people, to ensure that their collective resources are efficiently administered in service of the public good.