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HomeFinance, MoneyAGF generates N1.41bn revenue in 3 years

AGF generates N1.41bn revenue in 3 years

The Accountant General of the Federation, Mr Ahmed Idris has said that the office generated N1.41 billion revenue in the last three years, despite being a service office.

Idris said this while appearing before the House of Representatives Committee on Finance on Tuesday in Abuja to defend the 2022 budget proposal.

He said that the total budget proposal for 2022 appropriation is N10.470 billion.

He said that the revenue generated is usually sent to the consolidate revenue which is the appropriate quarters.

“Over the last three years we have been able to generate N1.14 billion by way of revenue  even though we are a service office,” he said.

He stated that its revenue usually come from its training institution, tender fees, use of class rooms among others,  adding that though the revenue is meagre but are usually accounted for.

According to him, the personnel cost for 2022 is N4.34billion and another leg of the personnel cost is the foreign service for all Nigerian mission abroad amounting to N4.747bn.

He stated that the personnel cost for foreign mission was initially handled by the Ministry of Foreign Affairs but had been shifted to office of AGF by virtue of administrative circular.

He said that the office of AGF is now responsible for paying salaries and estacode of foreign missions.

He listed the overhead cost as N752.831 million and the capital as N 629.6million, adding that its envelope for 2022 was almost the same as 2021.

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