President of the Senate, Ahmad Lawan, has called on the Executive to implement the Economic Sustainability Plan approved by the National Assembly so as to strengthen the economy in view of the resultant impact occasioned by COVID-19 pandemic.
Lawan gave the charge on Thursday in a welcome address delivered during the presentation of the 2021 budget estimates by President Muhammadu Buhari at a joint session of the National Assembly.
According to the Senate President, there is an urgent need by the government to sustain programmes aimed at economic diversification, not only because of the unpredictable nature of oil revenue but due to recent uncertainties arising from the coronavirus.
He added that sufficient injection of funds into such programmes would give a boost to the nation’s economy.
The Senate President while pledging the National Assembly’s readiness to pass the 2021 budget before the end of the year, said doing so would continue to enable planning and enhance productivity and efficiency in the management and application of resources.
He, however, lamented that the Federal Government had resorted to borrowing to fund critical projects in the budget due to inadequate revenue at its disposal.
Lawan blamed the government’s low revenue profile owing to leakages on the inefficiency of revenue-generating agencies.