The Federal Government is planning to block leakages and boost revenue collection as part of measures to drastically cut borrowings and debt burden, says the Senate President, Ahmad Lawan.
He added that there are plans to increase the supervision of government agencies and government parastatals that have failed to remit their Internally Generated Revenue (IGR).
Lawan said this on Monday while addressing journalists at Aso Villa after a meeting with President Muhammadu Buhari.
He said the executive arm of the government was on the same page with the lawmakers in how more revenue can be generated and borrowing reduced in 2022.
The senate president said, “We had discussions on some other governance issues that have to do with making revenues in the country, especially for government at the federal and the state levels, and even local government.
There are so many agencies of government that are not remitting their internally generated revenues and this is something that we have to address as stiffly as possible and as quickly as possible because we need to find a way of reducing the borrowings that we do.
“So, if there are areas that we can now get revenues that will help us reduce the amount of borrowing, then so be it and this is something that we all agree with Mr. President that we should continue to look at those areas that we need to improve on revenue generation and collection.
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“Thank God, we are on the same page with Mr. President on all these issues,” he said.
Speaking on the 2022 budget, he said provisions have been made for the funding of security agencies and the execution of infrastructure projects.
Lawan said, “We hope and our desire now is in tandem with what the Presidency wants, that is to ensure that the legacy projects are completed by next year by the grace of God. These are the major projects, like the second Niger Bridge, the Abuja-Kaduna-Kano highway and so on. These projects will be completed next year and Mr. President is able to commission them for Nigerians to benefit.
“These are projects that we have to make significant or sufficient provisions in the 2022 budget, so that we’re able to complete them. They should be part of what will be part of the legacies Mr. President owes to this country in the area of infrastructure.”
