The National Assembly, on Monday, questioned President Bola Tinubu’s request for loan requests as some revenue-generating agencies of the Federal Government disclosed that they had already surpassed their budgetary revenue target for 2024.

Chairman of the Federal Inland Revenue Service, Zacch Adedeji, said the Federal Government generated N1.5tn in education tax, a substantial amount above it N70bn target.

On his part, the Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, said the company exceded the N12.3tn revenue projected for 2024 by already raking in N13.1tn.

The Comptroller-General of Nigeria Customs Service, Bashir Adeniyi, also stated that as of September 30, Customs had raked in N5.35tn revenue, which is above N5.09tn targeted for the entire 2024 fiscal year.

Amazed by submissions of the revenue-generating agencies, members of the Senator Sani Musa-led joint committees took them up on why the Federal Government is still seeking foreign loans despite the high increase of Internally Generated Revenues.

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