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HomeNewsN11.03trn 2023 Budget Deficit: NASS To Amend Finance Act Again 

N11.03trn 2023 Budget Deficit: NASS To Amend Finance Act Again 

…Resumption date for lawmakers doubtful 

KEMI OMONIYI

The Finance Act may again be subjected to amendment by the National Assembly.

The proposed amendment to certain provisions of the Act is coming on the heels of concerns by the Senate to tackle the huge N11.03 trillion deficit expected in the 2023 budget of the Federal Government.

The Chairman, Senate Committee on General Services, Senator Sani Musa (APC Niger East), gave indication of the proposed amendment while dwelling on the need for various revenue generating agencies to surpass targets revenue as a means of reducing the proposed budget deficit.

He spoke to journalists while inspecting the  temporary chamber being put in place for Senators in view of renovation work going at the Red Chamber.

Senator Musa doubtfully said tomorrow’s resumption will depend on how proper the temporary chamber is put in place before Tuesday.

He said “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 be able to generate more revenues   from other sources  rather than depending on  oil alone 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 are suppose 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 and  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.”

Recall that the Senate, had, through its Finance Committee 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 making more revenues for the country in the  coming fiscal year, for the purposes of reducing proposed deficit size and loan collections for budget financing.

Commenting on the level of work on the ongoing  general renovation work  at the National Assembly , Senator Musa said it was an  overdue 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.

“What 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 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.

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