The Chairman of the Senate Committee on Finance, Senator Olamilekan Adeola, said on Wednesday that over 400 out of 541 Federal Government’s Ministries, Departments and Agencies are to be scrapped as recommended by Stephen Orosanye-led Presidential Committee on agencies’ rationalisation.

Olamilekan, who made the declaration on the second day of the ongoing interface between the committee and heads of MDAs on revenue drive for the implementation of the proposed N19.76trillion 2023 budget, said Orosanye panel recommended the retention of 106 of the MDAs.

According to him, revenue generation was the most critical factor being considered by the Federal Government before retaining 106 MDAs or scrapping 400.

The Lagos West senator made the assertion after the Director General of the National Bio-safety Management Agency, Dr. Rufus Ebegba, had made a presentation to the committee on low revenue generation by the agency.

The DG, in his submission, said only N2million had been generated by NBMA this year as against the N5 million it usually generated on yearly basis, noting that out of the N2 .5billion appropriated for the capital budget this year, only N1.3billion was released.