Nigeria faces ‘$14 billion revenue gap’ as Senate expects 2021 budget next week, says Lawan



 

By Haruna Salami
The Senate resumed Tuesday after over two months’ recess lamenting the security situation in the country which the Senate President, Ahmad Lawan said “it is not what one expects it to be”.
Today our country is (beset) with multi-faceted security challenges” and urged hands should be on deck “to arrest the situation”.
Lawan, in his welcome address observed that the country is “confronted with over $14 billion revenue gap and the grim reality of over dependence on oil” adding that the country must diversify into agriculture, solid minerals, Stella development and manufacturing.
Disclosing that the executive will be presenting the 2021 budget estimates next week, the Senate President said one month window (October) will be given for budget defence by Ministries, Departments and Agencies, MDAs.
Another area that will receive the attention of the upper chamber is the 1999 Constitution review, especially “reforms that will lead to free, fair and credible elections”, Lawan said.