Home Economy Senate President cries out, crude oil theft pushing Nigeria’s economy into coma

Senate President cries out, crude oil theft pushing Nigeria’s economy into coma

by Business News Report

Senate President, Senator Ahmad Lawan said that Oil theft in the country was pushing Nigeria’s economy into a state of coma, lamenting that  generation and collection of revenues have remained Nigeria’s major challenges. According to him,  massive loss of revenue through oil theft which is debilitating and threatening to throw the economy into a serious confusion. Speaking in Abuja while addressing Senators resumption from a seven week recess,  Lawan who urged his colleagues to ensure that everything was done to curtail the sabotage seriously bleeding the Nation’s economy. He specifically declared that  Senate focus must remain on ensuring a secured and safe country and an economy that works for all citizens.

Lawan said. “Revelations about the scale of oil theft shows that, until government takes decisive actions, Nigeria could soon loose any revenue from that sector. “In the next nine months, our attention and devotion should bring improvement to the current situations. This Senate is a Senate that will continue to work for all Nigerians at all times.” He added  that the confirmation of the acting Chief Justice of Nigeria, CJN, Hon. Justice Olukayode Ariwoola, work on 2023-2025 Medium Term Expenditure Framework and Fiscal Strategic Paper, MTEF/FSP, 2022 budget and working to support the nation’s defence and security forces, among others,  would largely be the focus of the upper legislative chamber in the next three months. The President of the Senate who noted that President Muhammadu Buhari  is expected to present the 2023 budget estimates to the joint session of the National Assembly in the first week of October.

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