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The Federal Government has assured that it is working on sanctioning ministries, departments and agencies who fail to meet their revenue targets.
Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this at the Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill in Abuja on Friday.
She noted that this is an attempt to boost the revenue performance and remittance of government-owned enterprises, adding that the agencies were limited to spending not more than 50 per cent of what they generated.
The Minister added that there was a robust monitoring mechanism in place, which would help in assessing the performance of agencies, stressing that the new plan to sanction them for revenue target failure would be included in the Finance Act 2021.
