FG Records Shortfall in Revenue Generation

The Federal Government recorded a shortfall of N2.8tn from revenue generating agencies between 2015 and 2020.

An analysis of data from the Budget Office has shown that between 2015 and 2020 fiscal periods, the independent revenue target set by the government could not be achieved.

According to the Fiscal Responsibility Act, revenue generating government agencies must remit 80 per cent of their operating surplus to the Consolidated Revenue Fund account.