By Esther Adesulu
Nigeria’s Senate has vowed to not be flexible with revenue generating agencies of Government, as part of processes to bring future borrowings to an end by the Federal Government.
This was disclosed by the President of the Senate, Ahmad Lawan on Monday at a one-day Interactive Session organized by the Senate leadership and its Committee on Finance.
Lawan noted that the meeting paid attention on setting targets for revenue generation agencies, and addressing issues they witnessed in meeting such targets.
He lamented the low revenue portfolio of some agencies, noting that the situation is behind government’s repeated borrowing, even as he regretted that “the country spends so much servicing these debts.”
While pointing out that “more internal generation will minimize borrowing,” the Senate President added that “the federal government needs more revenue now than ever.”
