The House of Representatives has directed the Infrastructure Concession Regulatory Agency (ICRC), Nigeria Sugar Development Commission (NSDC) and Nigeria Electricity Regulatory Commission (NERC) to provide budget performance details to ascertain compliance with extant financial regulatory laws.
Chairman of the House Committee on Finance, James Faleke, stated this in Abuja on Tuesday when the agencies appeared before the committee.
The directive was given through resolutions when the agencies appeared before the committee at its resumed interactive session on Tuesday with key agencies on budget performances.
The committee directed ICRC to provide details of all concessionaires and the fees charged since 2008 after a presentation by the agency’s director of infrastructure, Shehu Danmusa.
Mr Faleke, however, picked holes in the presentation, especially the breakdown of revenue and expenditure.
He stressed the need for the agency to present comprehensive detail as required by standard accounting and financial practices.
The chairman of NERC, Sunusi Garba, who presented the agency’s 2023 and 2024 income and expenditure, informed the committee that the main source of revenue for the agency was the electricity market.
(NAN)
