Emma Ujah,  Abuja Bureau Chief 

The Project Light House Programme of the Federal Government being managed by Federal Ministry of Finance, has recovered N5.2 trillion from Federal Ministries, Departments and Agencies (MDAs).

The Director,  Special Projects Federal Ministry of Finance, Aisha Omar, made this disclosure today in Gombe, Gombe State during a one-day sensitisation programme for the North-East Geopolitical Zone programme on Federal Government’s debt recovery drive through the Project LightHouse Programme, according to a statement by Mr. Stephen Kilebi,  Director of Press, last night.

Omar said that these debts came to the spotlight from data aggregated from over 5,000 debtors across ten (10) Ministries, Departments, Agencies (MDAs), adding that, the aggravation was still ongoing.

Project Lighthouse initiative was designed to help solve the intractable and perennial problem of debt recovery by using big data analytics  technology. 

The Director who was represented at the  event by the Deputy Director in the Special Projects Department of the Ministry, Mrs.Bridget Molokwu disclosed that the core focus of Project Lighthouse is to leverage on big data technology to help block revenue loopholes, identify new revenue opportunities, optimize existing revenue streams especially non-oil revenue as well as improve fiscal transparency.

She emphasized that the essence of the initiative was the recovery of debt owed to the Federal Government by individuals and companies through the debt recovery capability of Project Lighthouse engine.

 The system according to her, collects, integrates and analyses data from revenue generating agencies in order to create insightful information for improved decision making on debt recovery.

According to the Director the importance of the  project was leveraging on big data technology to help in blocking revenue loopholes, identifying new revenue opportunities, optimising existing revenue streams especially the non-oil revenue as well as improving fiscal transparency.

She revealed that data from Project Lighthouse Programme revealed that many companies and individuals who owed government agencies and refused to honour their obligations were still being paid especially through the government platforms such as GIFMIS and Treasury Single Account (TSA) due to lack of visibility over such transactions.

The Director explained that the debts were in the form of debt liabilities to the Federal Inland Revenue Service (FIRS); refunds to the Government by companies which failed to deliver on projects for which payment had been effected, unpaid credit facilities granted to both corporate entities and individuals by the Bank of Industry (BOI) and Bank of Agriculture (BOA). 

Others were judgment debt in favour of Government, debts owed Pension Transition Arrangement Directorate (PTAD) by insurance companies.