Federal Competition and Consumer Protection Commission FCCPC has proposed 14.3 Billion naira as revenue target in 2023 fiscal year.
Executive Vice Chairman of the commission Mr Babtunde Irukera stated this during the 2023-2025 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) hearing at the House of Representatives Abuja.
Mr Irukera, explained that before assuming office in April 2017, the commission had zero remittance into government coffers but under his watch from April 2017 to December 2018 the sum of N75 million was remitted to the government.
He maintained that sequel to the amendment of the law establishing the commission in 2019, N98 million was remitted and the agency was able to pull out from being funded by the government treasury and became self-funded.
The FCCPC Vice Chairman, also confirmed that in 2021, the sum of N1.3 billion was remitted while in 2022, a total sum of N1.26 billion had so far been remitted and more were expected before the year runs off.
“As at this year, we have given the government N1.2 billion and we will give more; our revenue target for 2023 is N14.3 billion, I feel relatively confident that we will be close or hit the target.
Reacting to issues of expenditures raised by the committee in an earlier sitting, Irukera said it was hazard allowance paid to members of staff who go out on surveillance and enforcement.
According to the FCCPC boss, they are exposed to so many dangers especially when they face loan sharks and digital lenders that send defamatory messages in the country.
In a remark the Vice Chairman, House committee on Finance Alhaji Abdullahi Sa’idu commended the agency for the achievements recorded despite some challenges it’s facing.
Mr Abdullahi observed that the agency was capable of surpassing the proposed 2023 revenue target as against the N1.2 billion it remitted to the government coffers last year.
COV/TSIBIRI