The Senate President, Ahmad Lawan, revealed  on Monday in Abuja in an interactive session between the Senate leadership, members of the Senate Committee on Finance and revenue-generating agencies of government , that  revenue-generating agencies of the government in Nigeria will be tasked to  produce N3 trillion annually.

The senate president said these agencies are capable of generating N3 trillion annually if there are efforts to ensure prudent spending.

Mr Lawan while declaring the session open, hammered on the need to improve internally generated revenue of the Federal Government. He said the Senate will be stiff on generating more and more revenue in order to reduce borrowing.

Also speaking at the event, Sen. Solomon Adeola, The Chairman of the Committee on Finance lamented that funds for implementation of the projects captured in the 2022 budget are not sufficient.

“There is an urgent need for all hands to be on deck on revenue generation for government, and prevent misuse and leakages of such revenue for frivolous purposes not sanctioned by the laws of the National Assembly.”

He urged the Federal Government to make efforts to minimize borrowing but to fund projects in Nigeria.