Close Menu
National Update
    Facebook X (Twitter) Instagram
    Trending
    • ADC Races to Save Atiku’s Ticket, Tells INEC to Wait
    • Yari: APC Will Not Rig 2027 Election, Tinubu’s Work Will Win Votes
    • 2027 Elections: INEC Raises Staff Pay Warns Workers to Stay Neutral
    • HURIWA to Tinubu: Stop Borrowing Before Unborn Generations Pay the Price
    • From the Governor’s Voice to Kano’s Information Vanguard: Why Sanusi Bature Dawakin Tofa Is the Right Choice
    • Dickson Pledges to End Contributory Pension Scheme for Police
    • Kano Shifts Drug War Beyond Arrests, Targets Rehabilitation, Youth Reintegration
    • Nigerian Women’s Youth Football: 90 Minutes from History
    Facebook X (Twitter) Instagram
    National UpdateNational Update
    Subscribe
    • News
    • Politics
    • Opinion
    • Economy
    • Entertainment
    • Health
    • Security
    National Update
    Home»Legislature

    Senate moves to amend finance act to take care of over N11.03trillion budget deficit

    By National UpdateSeptember 18, 2022 Legislature No Comments3 Mins Read
    Share
    Facebook Twitter WhatsApp LinkedIn Email

    ***As senate may shift resumption over chamber renovation

    In its bid to contain the debacle of N11.03tr deficit in the N19.76trillion proposed 2023 budget the senate has muted the plan to amend some relevant provisions of the Finance Act.

    Chairman, Senate Committee on General Services, Senator Sani Musa (APC) Niger East), made the disclosure on Friday.
    According to him the amendment of the Finance Act by the National Assembly will make the various revenue generating agencies to double or triple targets earlier given them towards reducing the size of proposed budget deficit .
    Senator Musa who spoke to journalists on Friday at the frontage of temporary chamber being put in place for Senators in view of ongoing renovation work at the main Chambers implied the Tuesday resumption will depend on how proper the temporary chamber is put in place.

    “The budget of this country, have been in deficit and the only thing we can do is to amend so many things in the Finance Act, so that we can generate more revenues from other sources rather than depending solely on oil and by extension, reduce the size of proposed budget deficit.

    “By now the temporary chambers should have been ready knowing that we are resuming, initially we were billed to resume on the 20th of this month but there are some little things that needs to be done before then.

    “But I can assure the general public that this will be done in the shortest time and we are going to resume to receive Mr President to present the 2023 Budget.
    “You will recall that the 9th Senate has done very well, because this edifice since it was built, has never been rehabilitated, we are refurbishing it, bringing it back to standard like any other parliament you see around the world.
    “The FCT that is doing this Job, have been up and doing, but we need to push, they need to do more so that we will be able to resume as quick as possible”.
    Commenting further on the general renovation work going on at the National Assembly, Senator Musa said it was an over due project and very necessary in making the National Assembly particularly the Hallow Chambers, to meet up with global standard.
    “It is a great achievement for us that we are renovating the National Assembly complex that has been built over 20 years.
    “That we read from the newspapers that NASS leadership has not done anything on the licking roof, is not true.
    “This edifice is suppose to be managed and taken care of by the FCT, because it is their property, but now we have taken it as a responsibility on us to make sure we renovate it.
    “I’m sure that by the time the renovation of the National Assembly chambers is completed, other African countries will come to see and make Nigeria as a case study and see how we have improved on parliamentary infrastructure”, he added .
    The Senate had through its committee on Finance during interface with the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, kicked against the proposed N11.03trillion deficit in the proposed N19.76trillion 2023 Budget .
    Senator Olamilekan Adeola (APC Lagos West), who chairs the committee, told heads of revenue generating agencies at different times, to think out of the box in generating more revenue for the country in the coming fiscal year, for the purposes of reducing proposed deficit size and loan collections for budget financing .

    Previous ArticleFarmers Group says Agbado/cassava economy is the winner
    Next Article Ayu’s ouster calls and Atiku’s bitter truth to Wike

    Keep Reading

    28 States Approve State Police Bill, National Assembly Moves to Tinubu

    74 Extra National Assembly Seats Proposed for Women in 16-Year Reform Plan

    300 Albasu APC Leaders Accuse Chairman, Lawmaker of Backing Rival

    Bamidele: National Assembly Sets December Deadline for State Police Bill

    Senate Revisits Passed Bills, Approves Workers’ Compensation, Polytechnic Reforms

    Adamawa Insurgency: Hundreds Flee Homes as Senators Demand Security Surge

    Add A Comment

    Comments are closed.

    Advert
    VGC Advert
    Most Viewed Posts
    • Ex-Kogi Gov’s Arraignment Stalled at the instance of EFCC Counsels (2,576)
      The arraignment of the former Governor of Kogi State, Yahaya Bello, on an alleged money laundering case instituted against him by the Economic and Financial Crimes Commission (EFCC), has been adjurned to June 27, by the Federal High Court, in Abuja, based on an agreement by the counsels to the two parties. A new date,
    • Breaking: Intrigues, as ADC suspends its presidential candidate, Kachikwu, accuses him of blackmail (1,982)
      The African Democratic Congress (ADC) has suspended its presidential candidate Dumebi Kachikwu, from the party, accusing him of false, misguided and defamatory video he made and circulated, among other infractions. The party also considered Kachikwu's action as "smacks of crass irresponsibility, gross indiscipline, disingenuous scandalization and blackmail, and completely unfit of someone who wants to
    • North Central Serving Governor withdrew N60 billion cash in six years ― EFCC (1,890)
      A serving Nigerian governor has allegedly withdrawn N60billion from his state’s purse. The Economic and Financial Crimes Commission (EFCC) said that he has lifted about N60 billion cash from state coffers in about his six years in office. The governor remains unnamed and his state, partially identified as domiciling in the North Central of the
    • Integrity Pays: Delta SANs Honour Police Officer with ₦1m Award (1,717)
      In a rare show of appreciation for integrity in public service, the Body of Senior Advocates of Nigeria (BOSAN), Delta State chapter, has honoured Assistant Commissioner of Police (ACP) Aliyu Shaba for what they described as his anti-corruption stance and outstanding service within the Nigeria Police Force. At a colourful ceremony in Ekpan, Uvwie Local
    • A major win for Kanu as Court orders Nigeria to pay him ₦1billion (1,571)
      For violating the rights of the leader of the Indigenous People of Biafra (IPOB) Nndi Kanu a High Court in Umuahia, Abia State, on Wednesday ordered the Nigeria Government to pay him the sum of N1 billion The presiding Judge Benson Anya described the invasion of Kanu’s Afaraukwu residence as notorious and brazen. He also

    Latest News

    ADC Races to Save Atiku’s Ticket, Tells INEC to Wait

    November 7, 2026

    Yari: APC Will Not Rig 2027 Election, Tinubu’s Work Will Win Votes

    November 7, 2026

    2027 Elections: INEC Raises Staff Pay Warns Workers to Stay Neutral

    November 7, 2026

    HURIWA to Tinubu: Stop Borrowing Before Unborn Generations Pay the Price

    November 7, 2026

    From the Governor’s Voice to Kano’s Information Vanguard: Why Sanusi Bature Dawakin Tofa Is the Right Choice

    November 7, 2026

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    National Update
    Facebook X (Twitter) Instagram
    © 2026 National Update. Designed by Lamark Cre8ives.

    Type above and press Enter to search. Press Esc to cancel.