In preparation for next week’s presentation of the 2020 Appropriation Bill by President Muhammadu Buhari, Senate on Thursday passed the Medium Term Expenditure Framework and Fiscal Strategy Paper.
Following debate on the matter, President of the Senate, Ahmad Lawan, acknowledged that lack of funds has always been responsible for the poor implementation of budgets in the country.
He canvassed for Federal Inland Revenue Service to ensure that more Nigerians and corporate entities pay taxes so as to increase government revenue.
Lawan also stressed the need for economic diversification that will take the pressure off crude oil and enhance budget implementation.
President Muhammadu Buhari is expected to present the 2020 budget before a joint session of the National Assembly by Tuesday next week.