Legislature
NASS sets N3trn as revenue target for 2022 for Govt agencies to scale down borrowing, budget deficit
President of the Senate, Ahmad Lawan, on Monday, indicated that the National Assembly was setting N3 trillion as revenue target for agencies of Government in 2022 fiscal year to scale down on borrowing
Lawan spoke in his address delivered to declare open an interactive session “on the need to improve internally generated revenue of the Federal Government of Nigeria and Revenue Projections of the Agencies as Contained In the Appropriation Act 2022.”
that revenue generating agencies of government are capable of generating and remitting N3 trillion naira annually to the coffers of the federal government if efforts are made to cut down on wasteful spendings.
The interactive session was between the Senate Leadership and Members of the Committee on Finance and Revenue Generating Agencies of Government.
Lawan indicated that the purpose of the meeting was to explore means of increasing government revenues.
According to him, one of such ways is for the National Assembly to be rigid on increased revenue to cut down on the country’s budget deficit and borrowings, as well as prevent wasteful expenditures by agencies of government.
He assured that the upper chamber would provide the needed support through legislation to ensure that revenue agencies perform to meet and surpass their targets.
He said, “In 2022, the National Assembly assumed and rightly so, that our government owned enterprises can generate up to N3 trillion if we are of the mindset that we can achieve that and, of course, ensure that we oversight to stall any possibility of unwarranted expenditures by agencies of government.
“But that does not mean in any way that it is going to be some kind of investigation on what you do, but an encouragement of what you need to do.
“In this meeting and subsequent ones, there should be no holds barred on discussions.
“Where an agency feels it is encumbered in any way from achieving its target, it should say so, so that we are able to prescribe the right solutions for it to perform.
“As a National Assembly, let me say that the Senate particularly will be stiff on generating more and more revenue.
“We will be rigid, we will continue to insist, because we believe that this is one sure and guaranteed way of reducing our deficit and borrowing.
Lawan explained that the drive by the upper chamber for more revenues to the coffers of government, would enhance the economy and facilitate infrastructural development.
“This Committee is modified, because the leaders of the Senate believe that we can do far better and we have seen signs when last year some of the agencies performed beyond expectation.
“So, it is an opportunity for us to save and enhance our economy and, of course, make Nigeria achieve more infrastructural development which is the goal of this administration and every Nigerian.
“We believe that when you (revenue agencies) generate the money, we (National Assembly) appropriate it.
“Prudence is of essence here, when we spend our money. And when we borrow, like the National Assembly has always tried to do, we borrow to treat specific projects and programmes of government”, the Senate President said.
Chairman of the Committee on Finance, Senator Solomon Olamilekan Adeola, in his welcome address, lamented that there was insufficient funds for the implementation of policies and projects captured in the 2022 budget of the federal government.
He explained that the funds were derived partly from the revenue generated by the government owned enterprises and other independent revenues sources of the federal government.
According to the lawmaker, “there is an urgent need for all hands to be on deck on revenue generation for government, as well as prevent misuse and leakages of such revenue for frivolous purposes not sanctioned by the laws of the National Assembly.”
He advised that for government to reduce and eliminate deficit budgeting associated with the nation’s budget over the years, effort must be made to minimise borrowing to fund projects.
Revenue agencies present at the interactive session include: National Agency for Science and Engineering Infrastructure, the Federal Inland Revenue Service (FIRS), National Steel Raw Materials Exploration Agency, Nigerian Postal Service, Lagos University Teaching Hospital, and Nigeria Customs Service.
Others were the Nigeria Immigration Service, Nigeria Security and Civil Defence Corps, Nigeria Prisons Service, Maritime Academy of Nigeria, National Agency for Food and Drug Administration and Control (NAFDAC), and Abuja Geographic Information Systems (AGIS).
Also present were the Federal Capital Territory Administration, Energy Commission of Nigerians, Administrative Staff College of Nigeria, Nigerian Export Import Bank (NEXIM), Nigerian Ports Authority and the Nigerian College of Aviation Technology, Zaria.
The National Assembly has modified the National Drug Law Enforcement Agency (NDLEA) Act to prescribe life imprisonment for individuals found guilty of storing, transporting, or concealing illicit drugs and substances.
The amendment was adopted on Thursday during plenary, presided over by Deputy Senate President Barau Jibrin, following broad support from the senators.
The amendment reflects a harmonised position of the Senate and the House of Representatives on Section 11 of the NDLEA Act.
The House had earlier passed an amendment prescribing life imprisonment for drug traffickers, while the Senate had proposed the death penalty.
To reconcile the differences, a conference committee of both chambers was convened. Senator Tahir Monguno, Chairman of the Senate Committee on Judiciary, Human Rights, and Legal Matters, presented the harmonised version to the Senate.
He urged lawmakers to adopt the House’s position of life imprisonment, arguing that enforcing the death penalty could lead to the execution of over 900 accused persons currently awaiting trial for drug-related offenses.
The Deputy Senate President who presided over the plenary had put the resolution to a voice vote, and the majority of senators supported the amendment.
The approved version stipulates life imprisonment for offenders.
The amended section now reads:
“Anybody who is unlawfully involved in the storage, custody, movement, carriage, or concealment of dangerous drugs or controlled substances and who, while so involved, is armed with any offensive weapon or is disguised in any way, shall be guilty of an offence under this Act and liable on conviction to be sentenced to life imprisonment.”
This amendment aims to strengthen the fight against drug trafficking while addressing concerns over human rights and the judicial implications of the death penalty.
The move is part of efforts to curb the growing menace of drug trafficking and its adverse effects on Nigerian society. According to Senator Monguno, the life imprisonment penalty strikes a balance between deterrence and humane judicial practice.
With the amendment, the NDLEA now has a robust legal framework to prosecute offenders and combat drug-related crimes effectively.
President Bola Ahmed Tinubu has formally requested the National Assembly’s approval for a $2.209 billion (₦1.767 trillion) external borrowing plan to finance part of the ₦9.17 trillion fiscal deficit in the 2024 budget. The loan, included in the 2024 Appropriation Act, is critical to the government’s broader strategy for economic recovery and growth.
In a letter to Senate President Godswill Akpabio, President Tinubu noted that the borrowing aligns with the provisions of Sections 21(1) and 27(1) of the Debt Management Office (DMO) Establishment Act, 2003. He also indicated that the Federal Executive Council (FEC) had approved the plan.
The President explained that the funds would be sourced through Eurobonds or similar external financial instruments. A detailed summary of the loan’s terms and conditions accompanied the letter to guide legislative scrutiny.
“This borrowing is necessary to address the budget deficit and fulfill our fiscal strategy for 2024. Swift approval will enable us to move forward with mobilizing these funds,” the President stated, emphasizing the urgency of the request.
Senate President Akpabio referred the matter to the Committee on Local and Foreign Deb
By Isah Bala
Access to quality education is a cornerstone of societal progress, and Senator Natasha Akpoti-Uduaghan is embodying this vision by bringing transformative educational tools to Kogi Central. In a groundbreaking initiative, the senator recently provided 5,000 digital learning devices to public primary and secondary schools in her district, aiming to bridge the digital divide and set a new educational standard.
The devices, unveiled at Abdul Aziz Attah Memorial College (AAAMCO), are preloaded with the Nigerian curriculum from UBEC and internationally acclaimed educational resources, including Khan Academy and Discovery Kids. Through this initiative, students will experience interactive learning, enabling them to explore subjects in depth, enhance digital literacy, and engage with complex topics in a hands-on way.
This project is just the beginning of Senator Natasha’s ambitious plan to make “smart schools” the norm in Kogi Central. She envisions a future where every child in her district has equal access to digital learning, stating, “My dream is to equip all public primary and secondary schools in Kogi Central with digital learning devices before the end of my tenure in 2027.”
Beyond device distribution, the senator’s initiative includes UBEC-led teacher training to ensure educators are equipped to integrate these tools into their classrooms effectively.
With this dual approach of student and teacher empowerment, Senator Natasha is laying a foundation that will support digital literacy and skill development for years to come.
Senator Natasha’s commitment to educational advancement represents a significant step forward for Kogi Central, ensuring that young students have access to the tools they need to succeed in an increasingly digital world. This initiative marks her dedication to the constituency that entrusted her with this mandate.
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