The Senate on Wednesday requested that 10 out of the 63 Government Own Enterprises (GOEs) be exited from the budget and placed on cost of collections to serve as a test case for others in the future.
Included among the government agencies are: Nigeria Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigeria Customs Service(NCS)
Others are: Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Federal Inland Revenue Services (FIRS), Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Also included are: Nigeria Communication Commission (NCC), Corporate Affairs Commission (CAC) Joint Admission and Matriculation Board (JAMB) and National Agency for Food and Drug Administration and Control(NAFDAC).
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The proposal was mooted as part of the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which the upper legislative chamber approved for the country.
The development followed the adoption of the report of the Senate Committee on Finance at plenary.
The Senate also approved daily crude oil production of 1.69million barrel per day(mbpd) 1.83mbpd, and 1.83mbpd for the 2023, 2024 and 2025.
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