The Senate President, Ahmad Lawan, has revealed that the Upper Legislative Chamber will turn the heat on various revenue-generating agencies for adequate revenue to fund the implementation of the 21.83 trillion naira 2023 budget.

Lawan made this known in Abuja during his 64th birthday celebration, where he emphasized that it would no longer be business as usual for the various revenue-generating agencies in the country as the government could no longer continue to borrow to fund the budget. 

He also noted that aside from the problem of insecurity which was being fought headlong by the government at various levels, the lack of sufficient revenue for the execution of national development programmes was another challenge that must be seriously tackled if the cycle of deficit budgeting or incessant borrowings must be stopped.

The Senate President said the move became imperative due to leakages and loopholes in tax collection and remittances to the government amid revenue shortfalls and high debt profile in the country. 

He also added that the government would review the processes of granting corporate tax holidays, import duty waivers and concessions to investors and businesses in the Federal Government.
 
He stressed that most of the waivers and concessions needed to be reviewed to generate more money into government coffers and minimise borrowing.