In a bold call for fiscal reform and accountability, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Wednesday urged the National Assembly to intensify its oversight of Ministries, Departments, and Agencies (MDAs), especially those involved in revenue generation.
The charge came during the 2025 National Conference on Public Accounts and Fiscal Governance, organised by the Public Accounts Committees of both chambers of the National Assembly in Abuja.
Representing ICPC Chairman Dr. Musa Aliyu, the Director of Finance, Akporo Michael, voiced concern over what he described as a culture of entitlement within revenue-generating agencies. According to him, some agencies act as if the public funds they collect belong to them, often failing to remit earnings to government coffers as mandated by law.
“You see, the funny thing is that these revenue-generating agencies believe the money is their own. But unfortunately, it’s not. Please intensify oversight so they’ll be held accountable,” he said.
Aliyu, through his representative, backed President Bola Tinubu’s recent tax reforms aimed at increasing Nigeria’s tax-to-GDP ratio from the current 7.8% to between 18% and 20%. He noted that Nigeria’s current figure is one of the lowest in sub-Saharan Africa, comparing it unfavorably to countries like Kenya, South Africa, and Egypt.
“Our budget implementation suffers every year because we do not mobilise enough revenue. Contractors in my office have been waiting for payment since last year. It is time to close the gaps,” he added.
Aliyu, through his representative, backed President Bola Tinubu’s recent tax reforms aimed at increasing Nigeria’s tax-to-GDP ratio from the current 7.8% to between 18% and 20%. He noted that Nigeria’s current figure is one of the lowest in sub-Saharan Africa, comparing it unfavorably to countries like Kenya, South Africa, and Egypt.
“Our budget implementation suffers every year because we do not mobilise enough revenue. Contractors in my office have been waiting for payment since last year. It is time to close the gaps,” he added.
The ICPC boss didn’t mince words in criticising the operations of the Nigerian National Petroleum Company Limited (NNPCL), lamenting the company’s opacity and subpar returns compared to its global counterparts.
Citing Saudi Aramco’s net profit of $106.25 billion in 2024 compared to NNPCL’s $2.4 billion, he said even accounting for the difference in production capacity, Nigeria’s earnings were far below expectation.
“If Aramco is producing 10 times more, we should at least be posting 10% of their profit, not just 2.4%. Something is fundamentally wrong,” he argued.
Aliyu also recommended the full digitisation of government processes to eliminate corruption-prone manual systems. He praised the success of the Integrated Payroll and Personnel Information System (IPPIS), which led to the recovery of ₦21 billion in a single investigation.
He further urged lawmakers to pass a comprehensive whistleblower protection law, stressing that current policy frameworks were inadequate.
“Let it not just be policy. Let it be a law, with real protection and incentives for those who speak out. It’s either we kill corruption or corruption kills us,” he warned.
On the broader issue of governance, the ICPC boss called for an overhaul of Nigeria’s public sector salary structure. He described the existing model as unjust and demoralising, urging lawmakers to engage the Salaries and Wages Commission for a harmonised and fair wage system.
Also speaking at the conference, Central Bank of Nigeria Governor Olayemi Cardoso called for stronger collaboration between fiscal and monetary authorities to ensure macroeconomic stability. He emphasised that both sectors were aligned in pursuit of economic growth and better welfare for Nigerians.
“Contrary to popular belief, the CBN and fiscal authorities are not working at cross purposes. Both are focused on the same goals—stability, growth, and prosperity,” Cardoso noted.
He added that the CBN’s proactive measures had helped Nigeria navigate recent global disruptions with minimal economic impact.
As Nigeria continues to battle corruption and fiscal inefficiencies, the strong message from the ICPC and other key institutions suggests a renewed push for transparency, accountability, and reform in public financial management.