by Niyi Jacobs
The Accountant-General of the Federation (AGF), Mrs. Oluwatoyin Madein, has pledged to address Nigeria’s revenue shortfalls through aggressive revenue mobilization strategies. She made this commitment during a meeting with the House of Representatives Committee on Public Accounts in Abuja.
A statement released by the OAGF spokesperson, Bawa Mokwa, revealed that the enhanced revenue drive had already resulted in improved funding for personnel costs, overheads, and capital projects in 2024. However, Madein acknowledged the persistent issue of low revenue remittances by several government-owned enterprises, emphasizing the need for reforms.
Since her appointment in May 2023, the AGF disclosed significant progress in auditing Nigeria’s financial statements. “The FGN Consolidated Financial Statement has been prepared and audited up to December 31, 2019, while the 2020 and 2021 statements have also been audited in collaboration with the Office of the Auditor-General of the Federation. The 2022 statement is currently ongoing,” she noted.
Mrs. Madein highlighted proposed enhancements to the Government Integrated Financial Management Information System (GIFMIS) and the Integrated Payroll and Personnel Information System (IPPIS). These upgrades, she stated, would strengthen transparency and efficiency with the support of the National Assembly.
In his remarks, Bamidele Salam, Chairman of the House Committee on Public Accounts, urged the AGF to expedite the submission of the 2022 Consolidated Financial Statement as mandated by the 1999 Constitution. Salam also called for the automation of revenue processes and regular audits to address leakages and ensure increased remittances by government-owned enterprises.
The AGF’s commitment underscores the urgency of fiscal reforms to boost Nigeria’s revenue and improve accountability in public finance management.
