Nathaniel Zacchaeus, Abuja
Senate President, Ahmad Lawan, has pledged that the Red Chamber would review the processes of granting corporate tax holidays, import duty waivers, and concessions to investors and businesses by the Federal Government.

Lawan stated this yesterday at an occasion to mark his 64-birthday anniversary in Abuja.

The Senate President said the move became imperative due to the leakages and loopholes in the tax collection and remittances to the government amid revenue shortfalls and the high debt profile in the country.

He stressed that most of the waivers and concessions needed to be reviewed to generate more money into government coffers and minimise borrowing.

The Senate President said, “The government cannot continue to borrow because such an arrangement is not sustainable. We have to look inward and generate more money to execute landmark projects and fund infrastructures.”

Lawan also frowned on the recent report by the National Bureau of Statistics (NBS) which indicated that there was more poverty ravaged Nigerians in the North-East and North-West.

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He said the people in the zones needed not be poor if the government could invest in the livestock business.

He said, “Some critics are always quick at kicking against the idea of livestock development, some of them said it is a private business. They shouldn’t be supported. There is nothing more private than someone setting up a bank, killing the bank, and then the obnoxious loans will now be taken over by AMCON.

“AMCON today has about N6trn of toxic loans on our head. The livestock industry in Nigeria especially in Borno, Sokoto, and of course Yobe State is an economy that is worth N33trn.

“Incidentally, most poor states are in this zone. Where you have a potential of N33trn economy, we have no reason to be poor,” Lawan said.

Lawan, who is marking his last birthday in his capacity as the President of the Senate, disclosed that the ninth Senate has implemented all items in the legislative agenda promised at the beginning of the administration in 2019.

He, however, noted that there were more challenges such as insecurity and lack of sufficient revenue to execute some projects.

Though he said the ninth National Assembly would continue to work hard and be patriotic while urging the incoming government to take it up from there in the interest of national development.

The birthday anniversary was witnessed by the Senate Leader, Senator Ibrahim Gobir, Senate Chief Whip, Senator Orji Kalu, and other dignitaries.