The Nigerian Senate on Tuesday issued two weeks deadline to Federal Government’s Ministries, Departments and Agencies, MDAs, to defend their budget before its Standing Committees.
President of the Senate, Ahmad Lawan, said any agency that refused to appear before the relevant committee to defend its budget during the period would not have revenue allocation for next year.
However, the Senate debated expensively on President Muhammadu Buhari’s proposed budget of N10.33 trillion on Tuesday.
According to Senator Ajayi Boroffice, the Federal Government should bring back the nation’s cocoa and groundnut pyramids in the north and that more attention should be paid to technology.
Deputy Senate President, Ovie Omo-Agege said “For this budget to succeed, certain things must be put in place; that is an enabling environment. Oil companies should relocate their offices to the oil producing areas to be able to create jobs for our people & it would enhance non-disruption from our youths. We also have mineral deposits aside oil, this must be looked into to increase revenue.”
Senator Tolu Adebiyi said “Government needs to bring more private sectors to capital projects. The sector should be opened up for investors to come in. The VAT of 7.5% does not look excessive. The government needs to do asset re-engineering to yield more revenue.”