The House Committee on Finance, Monday, queried the National Electricity Regulatory Commission (NERC) for allotting the sum N1.37 billion for furniture and fittings for their offices.
The Commission is also expected to spend N2 billion for purchase of computers, training to gulp N1.5 billion and investing heavily on technology (Software and Hardware) to gulp N5 billion naira are projected expenditure for the year 2023.
Again, the House Committee also frowned at the sum of N650 million for gratuity and retirement for staff. Whereas, N150 million is to be given to 5 staff as retirement and gratuity benefits.
This and many other queries were raised at the resumed hearing of the 2023-2025 Medium Term Expenditure Framework hosted by the Finance Committee held in National Assembly.
Meanwhile, the revenue projections for the year 2023: N22.4 billion while operating surplus stands at N2.4 billion.
The projection for 2024 is; 23.5 billion and operating surplus will be N1.1 billion.
As for 2025 revenue projection; N24.7 billion and operating surplus is N1.49 billion.