{"id":99394,"date":"2022-09-18T21:55:38","date_gmt":"2022-09-18T20:55:38","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=99394"},"modified":"2022-09-18T21:55:38","modified_gmt":"2022-09-18T20:55:38","slug":"nassembly-may-amend-finance-act-to-tackle-n11-03trn-2023-budget-deficit-says-lawmaker","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nassembly-may-amend-finance-act-to-tackle-n11-03trn-2023-budget-deficit-says-lawmaker\/","title":{"rendered":"N\u2019Assembly may Amend Finance Act to Tackle N11.03trn 2023 Budget Deficit, Says Lawmaker"},"content":{"rendered":"<div dir=\"auto\">The National Assembly would have to amend the Finance Act again in order to address the\u00a0 N11.03 trillion deficit proposed for the 2023 national budget. The total budget size is\u00a0 N19.76trn.<\/p>\n<p>The Chairman,\u00a0Senate Committee on General Services, Senator Sani Musa (APC Niger East), gave the indication while speaking with journalists in Abuja Sunday.<\/p>\n<p>He said the amendments would dwell on areas of making the various revenue generating agencies to double or tripple targets earlier given to them.<\/p><\/div>\n<div dir=\"auto\">\nHe said doing so would reduce drastically the size of the proposed budget deficit .<\/p>\n<p>Musa also hinted that the renovation work going at the main chambers of the National Assembly might affect the possible resumption of plenary on Tuesday.<\/p>\n<p>He said the resumption would depend on how proper the temporary chamber being put in place was carried out before Tuesday.<\/p>\n<p>The senator lamented the huge deficit in the proposed 2023 budget estimates and said it was not healthy for the nation\u2019s economy..<\/p>\n<p>He said: \u201cThe budget of this country has\u00a0been in deficit and the only thing we can\u00a0do is to amend so many things\u00a0in the Finance\u00a0 Act, so that we can\u00a0generate more revenues from other sources\u00a0 rather than depending on oil alone and by extension, reduce the size of the proposed budget deficit.\u201d<\/p>\n<p>He expressed doubts about the possible resumption of plenary on Tuesday.<\/p>\n<p>According to him, \u201cBy now, the temporary chambers should have been ready knowing that we are resuming. Initially we are supposed to resume on the 20th of this month\u00a0but there are some little things that need to be done before then.<\/p>\n<p>\u201cBut I can assure the general public that this will be done in the shortest time and we are going to resume to receive\u00a0Mr President and\u00a0to present the 2023 Budget.<\/p>\n<p>\u201cYou 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\u00a0back to standard\u00a0like any other parliament you see around the world.<\/p>\n<p>\u201cThe FCT that is doing this job has been up and doing, but we need to push. They need to do more\u00a0 so that we will be able to resume as quick as possible.\u201d<\/p>\n<p>Commenting further on the general renovation work going on at the National Assembly, the lawmaker said it was an\u00a0over due project and very necessary in making the National Assembly particularly the hallow chambers, to meet up with global standard .<\/p>\n<p>\u201cIt\u00a0is a great achievement for us that we are renovating the National Assembly complex that has been built over 20 years.<\/p>\n<p>\u201cWhat we\u00a0read from the newspapers that the National Assembly leadership has not done anything on the licking roof is\u00a0 not true.<\/p>\n<p>\u201cThis edifice is supposed to be managed and\u00a0 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.<\/p>\n<p>\u201cI\u2019m\u00a0 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,\u201d he added.<\/p>\n<p>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 N11.03 trillion deficit in the proposed N19.76 trillion 2023 Budget.<\/p>\n<p>The Chairman of the Senate Committee on Finance, Senator Olamilekan Adeola ( APC Lagos West), had told heads of revenue generating agencies at different times to come up with fresh strategies to improve the current revenues for the country in the\u00a0coming fiscal year.<\/p>\n<p>He said doing so would reduce the proposed deficit size and loan collections for budget financing.<\/p><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The National Assembly would have to amend the Finance Act again in order to address the\u00a0 N11.03 trillion deficit proposed for the 2023 national budget. The total budget size is\u00a0&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":77418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-99394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>N\u2019Assembly may Amend Finance Act to Tackle N11.03trn 2023 Budget Deficit, Says Lawmaker - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/nassembly-may-amend-finance-act-to-tackle-n11-03trn-2023-budget-deficit-says-lawmaker\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N\u2019Assembly may Amend Finance Act to Tackle N11.03trn 2023 Budget Deficit, Says Lawmaker - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The National Assembly would have to amend the Finance Act again in order to address the\u00a0 N11.03 trillion deficit proposed for the 2023 national budget. 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