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Senate Committee on Petroleum has learned that the Nigerian Nuclear Regulatory Authority has spent N367 million ($1 million) over 11 months that it cannot account for.

According to the Daily Trust, during this period the nuclear agency generated N490 million ($1.3 million) as Internally Generated Revenue (IGR) and spent the above mentioned amount without approval of the National Assembly.

This was revealed when top management of the agency, led by the Director General, Lawrence Dim, appeared before the committee for budget defence.

The IGR, according to the committee chaired by Senator Tayo Alasoadura (APC, Ondo) was generated between January and November this year.

The senators said out of the N490 million, the agency only remitted N122.6 million ($340,945) to the Federation Account and spent the rest without budgetary provision. Read more...

A member of the committee, Senator Baba Kaka Garbai (APC, Borno) said the agency violated the country's law by spending the money without approval of the National Assembly.

"You must have the approval of the National Assembly before spending the IGR. What you have done is an infraction of the law that provides that no money is spent without being appropriated for," Garbai said.

Nuclear agency to produce details

Committee chairman, Alasoadura demanded for the details of how the IGR was spent. "In preparing this, there is no key to show why 25% is remitted and you did not show the balance. What did you do with the balance because it is not captured in the budget?

"I know what the law says but in preparing your budget, you should be explicit about why you remit only 25% of your IGR. Where is the balance? Did we appropriate that money? We didn't appropriate the money," Alasoadura said.

Responding to the committee, Dim said the law provides for the agency to spend 75% of the revenue for running of its day to day activities.

He pledged to produce the details of how the IGR was spent, media reported.

 

Featured image: Stock