The House of Representatives Committee on Finance has flagged off revenue monitoring exercise for the 2023 to 2025 fiscal years, as part of efforts to boost funding for the 2026 budget.

Chairman of the Committee, James Faleke, said the annual engagement with revenue generating agencies is aimed at uncovering all government funds to support the 2026 Appropriation Bill, once passed.

First to appear before the panel, was the Registrar of the Corporate Affairs Commission, Husseini Mahaji.

Lawmakers expressed displeasure over his failure to provide required documents and directed him to reappear next Tuesday.

The Managing Director of the Federal Airports Authority of Nigeria, FAAN, Olubunmi Kuku, told the committee the agency generated ₦8 billion in 2023 but lost revenue due to debts owed by defunct and operating airlines. She added that FAAN recorded 17.5 million passenger traffic across domestic and international flights in 2023.

Comptroller-General of the Nigeria Customs Service, Bashiru Adeniyi, said the Service realized ₦3.2 trillion in 2023, attributing the figure to a slow start in the first half of the year.

He noted that Customs generates revenue from import duties, excise duties and fees, but highlighted bottlenecks in meeting the projected ₦11 trillion target for 2026. Lawmakers commended the Service’s performance and urged it to improve.

On the sidelines of the 2026 budget defence, FAAN MD, Olubunmi Kuku, told journalists that the agency’s cashless policy, introduced mid-last year, has begun yielding positive results following sustained awareness and implementation efforts.

Earlier, the committee declined the appearance of the Minister of Finance and Coordinating Minister of the Economy, insisting that the Minister of State for Finance, Doris Uzoka-Anitte, must personally appear before it.

The revenue monitoring exercise continues daily until all revenue generating agencies are reviewed.