Senator: N’assembly may tackle N11.03trn budget deficit with amendment of finance act

Sani Musa, senator representing Niger east and the chairman, senate committee on general services, has said the national assembly may amend the finance act again in order to address the N11.03 trillion deficit proposed for the 2023 national budget.

Musa hinted on the possible amendment while speaking with journalists on Sunday in Abuja.

TheCable had reported that the federal government has proposed to borrow over N11 trillion to finance the proposed 2023 budget deficit, a development far above the stipulated threshold in the fiscal responsibility act.

According to Musa, the amendment of the finance act would dwell on making the various revenue-generating agencies to double or tripple targets earlier given to them.

He said doing so would drastically reduce the size of the proposed budget deficit.

“The budget of this country has been in deficit and the only thing we can do is to amend so many things in the finance act, so that we can generate more revenues from other sources rather than depending on oil alone and by extension, reduce the size of the proposed budget deficit,” he said.

The senate had, through its committee on finance during interface with Zainab Ahmed, minister of finance, budget and national planning, kicked against the proposed N11.03 trillion deficit in the proposed N19.76 trillion 2023 budget.

Meanwhile, speaking on legislative activities, Musa expressed doubts about the possible resumption of plenary on Tuesday.

“By now, the temporary chambers should have been ready knowing that we are resuming,” he said.

“Initially we are supposed to resume on the 20th of this month but there are some little things that need 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 has 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.”