JAMB to remit less revenue to FG this year

Education, Ishaq Oloyede, JAMB, News Update, TETFUND


The Registrar, Joint Admissions and Matriculation Board ( JAMB ), Professor Ishaq Oloyede, on Monday, said that the examination body will remit less than N7.8billion it remitted to Federal Government coffers in 2017 this year.

Oloyede stated this during 2018 budget defence session with the Senate Committee on Tertiary Education and TETFUND.

He noted although JAMB projected N14.691billion as its Internally Generated Revenue ( IGR), for 2018 fiscal year, N7.744billion out of it would be used for overhead cost items while N2.683billion is earmarked for capital project .

The JAMB boss said that the examination body was given zero allocations for overheads and capital expenditure components in 2017 budget.

He said that in 2018 budget proposal, JAMB was also given zero allocation for overhead and capital expenditure, a situation that made it to plan funding for the two components from its projected IGR.

He said, “If we remove N7.744bn estimated for overhead cost and N2.683bn earmarked for capital project from the projected N14.691bn IGR, the balance surplus would be N4.262bn to be remitted into the federation account as against N7.8bn remitted last year.

” This has to be so because of critical expenditure to be carried out on overhead cost in terms of maintenance and upgrading of our facilities and information technologies and in particular , the highly needed capital project of procurement of new headquarters that would be on the national fiber optics for easy connection.”

Oloyede noted that for the JAMB to install needed connections in its temporary site in Bwari town, it would cost it N300billion which necessitated it’s plan of either moving to the central area in Abuja metropolis or along the Airport road within the axis of University of Abuja .

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Chairman of the committee, Senator Jibrin Barau (Kano North) and some other members commended the JAMB registrar for a job well done in terms of revenue remittance.

A member of the committee, Senator John Enoh (Cross River Central ) took the JAMB boss up over his plan to remit less revenue to the Federal Government .

Enoh noted that what the registrar did last year was in line with the policy that such bodies should remit 25% of total revenues generated into the federation account .

” To me, the JAMB registrar is being over commended or praised on what is expected of him legally and besides, he needs to explain to us properly why such revenue remittance would drop this year because the capital project is planning for is not absolutely within his powers, ” he said.

The committee chairman over ruled him saying that the JAMB registrar deserved commendation to encourage him to do more for the examination body .

Barau said, “Sentiments apart, what is good is good , this man has performed wonders where many had failed and nobody expects anybody here to say different thing. “

The post JAMB to remit less revenue to FG this year appeared first on The Nation Nigeria.

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