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The National Assembly,says it will from next month insists on multiple inflow from revenue generating agencies of government.
The President of the Senate, Ahmad Lawan, explained that the move will cut down on borrowing by the federal government, while reducing the country’s debt profile.
“The lgislature will look at making positive difference in revenue generation for the country.Nigeria’s revenue to GDP ratio is very low. The National Assembly will hold quarterly engagements with revenue generating agencies of government starting January or early February 2022,” Lawan stated.
He added that the current National Assembly has stabilized the Nigerian economy by ensuring an early passage of the budget. A feat he revealed has helped the country escape two recessions.
He insisted that despite criticisms from some Nigerians, the current legislature has also stabilized the polity with a rancour free relationship between members and between the two Chambers of the National Assembly.
He said that the National Assembly has achieved over 90 percent of its legislative agenda despite earlier challenges posed by the Covid-19 pandemic.
According to him, though the country is going through a trying periods, security agents, armed forces and politicians have to be at their best to reverse the tide.
He maintained that the Senate will further insist on better performance from the country’s armed forces.
He added that whilst it is true that the President Muhammadu Buhari led All Progressives Congress (APC) administration has stayed for over two years, he nevertheless, believes that 6 months was enough for a government to stem the tide of insecurity in the country.
Senator Lawan implored the oil and gas committees of the Senate to ensure more flow of investments from the oil and gas sector to the country, assuring that the Petroleum Industry Act (PIA) will be implemented starting in 2022 to allow the country benefits from the provisions of the law.
“The Senate will work with the executive to endure increased dividends from the sector to the country.”
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