Stop blaming Jonathan, Saraki tells Buhari
Wed Sep 21, 2016 09:02:am Politics
2.2K By sosa hills
Deeply disturbed by the current level of decay in the nation's economy, the Senate yesterday asked President Muhammadu Buhari to stop playing politics with the economy and deliver Nigerians out of the current harship they face.
The Upper Chamber also enjoined the executive arm of the government to boost the country's dwindling foreign reserves by selling some important national assets, including parts of the Nigeria Liquefied Natural Gas (NLNG) Holdings and some other resources.
The Senate vowed that it must ensure strict adherence to the principles of separation of powers and checks and balances while urging its members to shun partisan politics in addressing the current economic crisis in the country and other critical national issues.
It further noted that the time had come for the lawmakers to make lots of sacrifices in the course of supporting the Executive to tackle the economic challenges that have been giving this administration and Nigerians sleepless nights.
These positions were contained in the welcome address read on the floor of the Senate by the President of the Senate, Bukola Saraki, to mark the resumption of members from the annual recess and affirmed by Senators present at the session.
Saraki, in the speech, said that the Executive must begin to take steps to prove to Nigerians, the international community and investors that Nigeria was ready to carry out a meaningful economic reform capable of ending the recession and also demonstrate practically that the country was ready to do business.
He lamented that Nigerians were groaning in pains, resulting from the near total collapse of the economy, leading to hunger and starvation across the length and breadth of the country.
He noted that his experience with his constituents during the recess indicated that the people were no longer interested in who caused the present nosedive of the economy but in a quick solution to their choking predicaments.
His words: "Distinguished colleagues, we cannot afford further distraction and fixation to politics that would not and does not add food on the tables of our people, or add one megawatt of electricity to our grid. Everywhere you go, there is hunger in our land and our people want solutions to their problems.
"I believe we can make the recession we face today the shortest in our history and use the lessons coming out of it to consolidate our development. But it all starts now, if we all can believe."
Saraki further tasked the Executive to immediately put in place leadership level engagement platforms with the private sector that would be pro-business and also prove that the government was ready to partner with the private sector towards economic transformation.
Marshaling out steps to be taken by the Executive on how to quickly exit the country from the present situation, Saraki said:
"I must hasten to add, in my own opinion, that the Executive must begin to take the following needful steps to show Nigerians, the international community and investors, both local and international, that we are ready to reform and do business. These are:
"The Executive must immediately put in place leadership level engagement platform with the private sector. This must be one that is pro-business and shows unequivocally that government is ready to partner with the private sector towards economic revival. This is a critical signpost towards market confidence which is a key ingredient to help us revamp the economy out of recession
"The Executive must raise capital from asset sales and other sources to shore up foreign reserves. This will calm investors, discourage currency speculation and stabilize the economy.
"The measures should include part sale of NLNG Holdings; reduction of government share in upstream oil joint venture operations; sale of government stake in financial institutions e.g. Africa Finance Corporation; and the privatization and concession of major/regional airports and refineries.
"The Executive must consider tweaking the pension funds policy within international best practice safeguards to to accommodate investment in infrastructure and mortgages.
"The Executive and CBN must agree on a policy of monetary easing to stimulate the economy and harmonise monetary and fiscal policy until economic recovery is attained. We must ensure local government borrowing does not crowd out credit for the private sector.
"The Executive must re-tool its export promotion policy scheme with export incentives such as the resumption of the Export Expansion Grant (EEG); and introduce export-financing initiatives.
"The Executive is urged to engage in meaningful dialogue with those aggrieved in the Niger Delta and avoid an escalation of the conflict in the region. The National Assembly is very ready to play any role in the process and offer ideas on approaches that will deliver quick win-win in order to move the region and the economy forward.
"The Executive must as a deliberate response consider immediate release of funds to ensure the implementation of the budget for the near short term to inject money into the economy.
"Similarly, the agricultural sector and the agro-allied businesses should be directly supported to boost value addition and job creation.
Saraki regrettably narrated the agonies of Nigerians as witnessed during the just concluded recess by the National Assembly members, stressing the need for the present administration to take urgent and result-oriented steps to tackle the problems.
"I recall unforgettably, how one of the women came straight to me with a look of utter desperation and all she could mutter out was, "please our Senator, do what you can to put an end to this suffering, it is becoming unbearable."
The Upper Chamber also enjoined the executive arm of the government to boost the country's dwindling foreign reserves by selling some important national assets, including parts of the Nigeria Liquefied Natural Gas (NLNG) Holdings and some other resources.
The Senate vowed that it must ensure strict adherence to the principles of separation of powers and checks and balances while urging its members to shun partisan politics in addressing the current economic crisis in the country and other critical national issues.
It further noted that the time had come for the lawmakers to make lots of sacrifices in the course of supporting the Executive to tackle the economic challenges that have been giving this administration and Nigerians sleepless nights.
These positions were contained in the welcome address read on the floor of the Senate by the President of the Senate, Bukola Saraki, to mark the resumption of members from the annual recess and affirmed by Senators present at the session.
Saraki, in the speech, said that the Executive must begin to take steps to prove to Nigerians, the international community and investors that Nigeria was ready to carry out a meaningful economic reform capable of ending the recession and also demonstrate practically that the country was ready to do business.
He lamented that Nigerians were groaning in pains, resulting from the near total collapse of the economy, leading to hunger and starvation across the length and breadth of the country.
He noted that his experience with his constituents during the recess indicated that the people were no longer interested in who caused the present nosedive of the economy but in a quick solution to their choking predicaments.
His words: "Distinguished colleagues, we cannot afford further distraction and fixation to politics that would not and does not add food on the tables of our people, or add one megawatt of electricity to our grid. Everywhere you go, there is hunger in our land and our people want solutions to their problems.
"I believe we can make the recession we face today the shortest in our history and use the lessons coming out of it to consolidate our development. But it all starts now, if we all can believe."
Saraki further tasked the Executive to immediately put in place leadership level engagement platforms with the private sector that would be pro-business and also prove that the government was ready to partner with the private sector towards economic transformation.
Marshaling out steps to be taken by the Executive on how to quickly exit the country from the present situation, Saraki said:
"I must hasten to add, in my own opinion, that the Executive must begin to take the following needful steps to show Nigerians, the international community and investors, both local and international, that we are ready to reform and do business. These are:
"The Executive must immediately put in place leadership level engagement platform with the private sector. This must be one that is pro-business and shows unequivocally that government is ready to partner with the private sector towards economic revival. This is a critical signpost towards market confidence which is a key ingredient to help us revamp the economy out of recession
"The Executive must raise capital from asset sales and other sources to shore up foreign reserves. This will calm investors, discourage currency speculation and stabilize the economy.
"The measures should include part sale of NLNG Holdings; reduction of government share in upstream oil joint venture operations; sale of government stake in financial institutions e.g. Africa Finance Corporation; and the privatization and concession of major/regional airports and refineries.
"The Executive must consider tweaking the pension funds policy within international best practice safeguards to to accommodate investment in infrastructure and mortgages.
"The Executive and CBN must agree on a policy of monetary easing to stimulate the economy and harmonise monetary and fiscal policy until economic recovery is attained. We must ensure local government borrowing does not crowd out credit for the private sector.
"The Executive must re-tool its export promotion policy scheme with export incentives such as the resumption of the Export Expansion Grant (EEG); and introduce export-financing initiatives.
"The Executive is urged to engage in meaningful dialogue with those aggrieved in the Niger Delta and avoid an escalation of the conflict in the region. The National Assembly is very ready to play any role in the process and offer ideas on approaches that will deliver quick win-win in order to move the region and the economy forward.
"The Executive must as a deliberate response consider immediate release of funds to ensure the implementation of the budget for the near short term to inject money into the economy.
"Similarly, the agricultural sector and the agro-allied businesses should be directly supported to boost value addition and job creation.
Saraki regrettably narrated the agonies of Nigerians as witnessed during the just concluded recess by the National Assembly members, stressing the need for the present administration to take urgent and result-oriented steps to tackle the problems.
"I recall unforgettably, how one of the women came straight to me with a look of utter desperation and all she could mutter out was, "please our Senator, do what you can to put an end to this suffering, it is becoming unbearable."
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