x

REVEALED: 7000 firms, MDAs owe FG N5.2tn – Report

Eleven ministries, departments and agencies of the government as well as over 7000 corporate and private entities currently owe the Federal Government the sum of N5.2tn, a new report by the Federal Ministry of Finance has shown.

Details of the report were presented on Tuesday in Lagos by the Senior Development Consultant to the Ministry of Finance, Budget and National Planning, Abraham Atteh, during a sensitisation workshop organised by the ministry under its Project Lighthouse programme .

According to Atteh, the programme focused on the debt recovery drive of the Federal Government.

Highlighting the debt portfolio, the report showed that over 7000 corporate and private entities as well as 11 agencies of the government owed the Federal Government N5.2tn/

The Director for Information and Press, Federal Ministry of Finance, Phil Abiamuwe-Mowete, described the Project Lighthouse as a “data driven artificial intelligence engine that provides the ministry with intelligence and profiling platform to aid in policy formulation, implementation and the assessment of the impacts of those policies.”

“Project Light-House would support MDAs in developing a more efficient revenue assessment method by ensuring that major revenue loopholes are plugged  and revenue  collection is dramatically improved.

The Director of Special Projects, Ministry of Finance, Budget and National Planning, Victor Omata, in his opening remarks, said one of the key economic policy objectives of the current administration, contained  in the Economic Recovery and Growth Plan, focused on improving Federal Government revenues by targeting and increasing revenues from non-oil revenue sources.

Hot this week

NGO Trains Plateau Judges, Security Operatives on Enforcement of Child Rights Law 2005

By Israel Adamu, JosThe Child Protection Network (CPN), Plateau...

Nasarawa Farmers Triple Rice Yields with Climate-Smart Farming Innovations

By Abel Zwanke, LafiaFarmers in Nasarawa State have recorded...

NDDC Commissions Naval Facility in Bayelsa to Boost Security in Niger Delta

By Amgbare Ekaunkumo, YenagoaThe Niger Delta Development Commission (NDDC)...

MRA announces call for entries for 2026 Goodluck Jonathan FOI Awards

By Achadu Gabriel, KadunaMedia Rights Agenda (MRA) Thursday,...

Wednesday 29 October 2025

Serie A18:30 CET ComovVerona 18:30 CET JuventusvUdinese 18:30 CET RomavParma 20:45...

Justine Madugu Signs New Two-Year Deal as Super Falcons Coach

Super Falcons head coach Justine Madugu has confirmed that...

ATA 1–1 MIL: Match Review and Updated Serie A...

Lookman Rediscovers Scoring Form Ahead of Nigeria’s World Cup Playoff

Ademola Lookman finally ended his goal drought on Tuesday...

Principal Urges Parents to Monitor Children’s Activities to Curb Social Vices

By Noah Ocheni, LokojaThe Principal of GYB Model Science...

CHAIN Urges Federal Government to Adopt National Policy on Religious Freedom and Equal Protection

By Achadu Gabriel, KadunaThe Christian Awareness Initiative of Nigeria...

North-Central APC Forum Backs Mutfwang, Rejects Plateau APC Leaders’ Move to Block Defection

By Israel Adamu, JosThe North-Central All Progressives Congress (APC)...

Related Articles

Popular Categories

spot_imgspot_img