NASS To Insist On Triple Revenue  From Govt Agencies To Reduce National Debt Burden

NASS To Insist On Triple Revenue  From Govt Agencies To Reduce National Debt Burden

The National Assembly says it will from February this year, insist on triple inflow from revenue generating agencies of government.

The President of the Senate, Ahmad Lawan, who said the move will cut down on borrowing by the federal government, while reducing the country’s debt profile, disclosed  that the legislature will look at making positive differences in revenue generation for the country.

He said tat while the National Assembly is concerned about the country’s level of borrowing, it will however look at getting more revenue from independent sources.

According to him, Nigeria ‘s revenue to GDP ratio is very low so, the National Assembly will hold quarterly engagements with revenue generating agencies of government starting January or early February 2022,

The Senate President stated that the National Assembly has stabilized the Nigerian economy by ensuring an early passage of the budget a feat he disclosed has helped the country escape two recessions.

He insisted that in spite of criticisms from those he termed ignorant or mischiedevous persons, the current legislature has also stabilized the polity with a rancour free relationship between members and between the two Chambers of the National Assembly.

On security, the Senate President stated that the National Assembly has achieved over ninety percent of its legislative agenda despite earlier challenges posed by the COVID-19 pandemic.

Senator Lawan, noted that though Nigeria is going through 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 adding that whilst it is true that the President Muhammadu Buhari led administration has stayed for over two years, he still believes that six months are enough for a government to stem the tide of insecurity in the country.

Senator Lawan called on 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 benefit from the provisions of the law.

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