Why N’Assembly's Budget Cuts Mean Trouble for JAMB

The National Assembly Joint Committee on Finance threatened to cut off the exam body's funding for 2025 after accusing the Joint Admissions and Matriculation Board's leadership on Monday of careless expenditure and inadequate remittance to the federal government.

When Prof. Ishaq Oloyede, the agency's Registrar and CEO, stood before the parliamentarians to defend the 2025 budget, they voiced their concerns.

Leaders of government-owned businesses were questioned by MPs on Monday over their 2024 budget performance, including how much money was made, sent, and spent.


Oloyede, who took the platform to answer questions from the committee, stated that JAMB is a government institution that generates revenue and that "we are self-funded in terms of our operation." However, he quickly clarified that the examination board receives grant allocation from the Federal Government.

Oloyede provided a summary of the JAMB's 2024 budget performance, stating that the organization received an N6 billion grant from the Federal Government and sent N4 billion to the Consolidated Revenue Fund.

Abiodun Faleke, the chairman of the House Committee on Finance, expressed disapproval of this, questioning why money was being sent to government coffers while the government was also providing allocations.


An anxious Oloyede fought in vain to defend the annual budgetary allotment to JAMB, which compelled Faleke to ask the Fiscal Responsibility Commission about the examination body's standing.

In an attempt to shed light on the dispute, FRC Chairman Victor Murako stated that JAMB's reluctance to provide the commission with an updated audited financial report was one of the reasons it was unable to provide a thorough report of its financial statements.

"JAMB's last annual financial report was submitted in 2022," he stated. We would have been better able to advise the committee if they had provided a current financial report.


As a partially funded organization, JAMB should send 40% of its total Internally Generated Revenue to the government each year, according to committee member Amobi Ogah.

According to Ogah, who is the representative for the Isuikwuato/Umunneochi Federal Constituency in Abia State, JAMB had a net liability of almost N3.6 billion after Prof. Oloyede's presentation.

"There is no justification for spending the money you produce. You predicted generating approximately N1.1 billion more in revenue under various sources in your proposal than you did from your primary source. Could you please explain what these various sources are? Ogah inquired.

Senator Adams Oshiomhole also criticized the agency for spending so much money on drinks and meals in 2024.


"You spent N1.1 billion on refreshments and food. Does the government provide you with free food? This implies that you are spending the money you earn from underprivileged pupils, many of whom are orphans.

Additionally, in 2024, you spent N850 million on cleaning, fumigation, and security. You fumigated what? Did mosquitoes steal all of this money? Oshiomhole inquired

While urging Oloyede to defend the N6.5 billion spent on local training, the former governor of Edo State also criticized JAMB for spending N600 million on local travel.

"An additional N6.5 billion for training without specifics about that training." According to your documents, JAMB plans to spend N1 billion on housing. Is housing still provided by the federal government? What became of the monetization policy of Olusegun Obasanjo?


N120 million is allocated for office supplies. Oshiomhole also inquired, "What happened to the ones you procured last year?"

In his submission, Mark Esset, a representative of Akwa Ibom State's Uyo/Urua Nsit/Atai Astan Federal Constituency, urged the committee to urge the federal government to halt funding for JAMB.

"The Federal Government doesn't need to provide funding to JAMB if they can spend N1.1 billion on meals alone. "They can finance themselves," he stated.


"This is someone who is trying to bamboozle the committee," said Billy Osawaru, a congressman from Edo and a member of the All Progressives Congress, urging the committee to reject any plea from Prof. Oloyede. How is he able to defend the budget without all the necessary paperwork?

Sani Musa, the chairman of the Senate Committee on Finance, ordered Oloyede to draft a thorough report on JAMB's financial situation before he appears to defend the agency's 2025 budget.