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Nigerian Senate to Review Concessions Granted to Corporate Bodies

Nigerian Senate to Review Concessions Granted to Corporate Bodies

President of the Nigerian Senate, Ahmad Lawan, has bemoaned the abysmally low
revenue the country generates, thus leaving it to rely on loans to execute projects and for infrastructural development.

Lawan made this known on Thursday, January 12, while delivering an address to mark his 64th birthday celebration in Abuja.

But the Senate President had additionally lauded the efforts of the federal government in the terms of infrastructural development while underscoring the need to improve revenue generation and adequately sustain its collection.

In a statement issued by Dr. Ezrel Tabiowo, the Special Assistant (Press) to the Senate President, Sen. Lawan said.

“I think we have to work hard to improve our revenue generation and collection because it doesn’t look too sustainable that we tolerate people and certain government agencies to misapply or not even declare the revenues they collect. We can’t continue tolerating that.”

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The Senate President then added that the upper chamber within the remaining period of its tenure would engage revenue-generating agencies with the aim to shore up the country’s earnings.

Lastly, he then advised the federal government to review the waivers and concessions already granted to corporate entities.

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