The President of the Nigerian Senate, Dr. Ahmad Lawan, on Tuesday, said revenue generation and collection remained Nigeria’s biggest challenges, as did the massive revenue losses from oil theft, which “weakens the economy and threatens to plunge it into a coma.”
Welcoming his colleagues from a long vacation, Lawan lamented that “revelations about the extent of oil theft show Nigeria could soon lose all revenues from this sector until the government takes decisive action”.
He instructed his colleagues to ensure that everything is done to curb this theft.
Lawan said the country’s economy is “still challenged” and stressed the need for the National Assembly and the executive branch to constantly seek better responses to the economic situation.
In particular, he said their focus must remain on ensuring a safe country and an economy that works for all citizens.
“Over the next nine months, our attention and dedication should improve the current situation. This Senate is a Senate that will work for all Nigerians at all times,” he said.
The Senate President announced that the Acting Chief Justice of Nigeria, CJN, Judge Olukayode Ariwoola, would approve the 2023-2025 medium-term spending framework and fiscal strategy paper, MTEF/FSP budget 2022 and support to national defense and security forces and others will be largely the focus of the upper legislature over the next three months.
He said President Muhammadu Buhari is expected to present the 2023 budget proposals to the joint session of the National Assembly in the first week of October.
“The Ninth Senate instituted the practice of processing the annual Appropriation Bill between October and December each year. I commend the distinguished senators for this accomplishment and a legacy that has transformed the federal government’s annual budget cycle,” he said.
However, the Senate President reminded his colleagues that they were continuing the very good work of the past three years.
“As we all know, this resumption marks the final session of our term. The Ninth Senate has nine months to complete its term.
“As in the last three years, we are ready to make the remaining time very productive and successful. Undoubtedly, the Ninth Senate has done a commendable job and will end very well. We have achieved so many feats and broken many curses through various legal interventions. I have to commend all of us for the commitment, dedication, patriotism and sense of duty.”
Lawan recalled the Senate’s “serious concerns” about the security situation in the country and was pleased with the successes of the security authorities so far.
Nonetheless, he pledged that the Senate would continue to work with defense and security agencies through its respective committees to ensure commitments are upheld and commended them for stepping up their operations.
For the 2023 general election, he said the Senate and National Assembly would work with the Independent National Electoral Commission (INEC) to ensure very successful, transparent and credible elections.
“We stand ready to support INEC as a legislator in any way we can. The timely amendment of the 2022 electoral law has already brought very important innovations to ensure a better electoral climate,” he said.