Senator Bukola Saraki, the president of the Senate added a voice of urgency to the financial situation of the country, in his opening speech, setting a 9-point agenda to tackle the recession that is manifesting in untold hardship on Nigerians.

The Nigerian Senate resumed plenary on Tuesday, September 20, 2016 after two months recess and while the National Assembly was on recess, it was announced that Nigeria’s economy was in a deep recession with inflations reaching a record high of over 19%.

“It is clear to me that when people are desperately hungry, what they need is leadership with a clear vision; leadership whose daily actions reflects the very urgency of the people’s condition,” Dr. Saraki said.

1. He said that the FG needs to instill market confidence by immediately putting 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.”

2. Echoing the views of Africa’s richest man, Aliko Dangote, in a recent interview, Saraki said the executive needs to raise capital from asset sales and other sources to shore up foreign reserves, 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,” he said.

3. Saraki asked the executive to consider tweaking the pension funds policy to accommodate investment in infrastructure and mortgages. That is a view which was well received when it was suggested by the minister of power, works and housing, Babatunde Fashola, in a speech last January.

4. “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,” Saraki said.

5. He also said the export promotion policy scheme should be retooled with export incentives such as the resumption of the Export Expansion Grant (EEG); and introduce export-financing initiatives.

6. Saraki advocated for dialogue with “those aggrieved in the Niger Delta” and “avoid an escalation of the conflict in the region.”

7. “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,” he said.

8. He also called for support for the agricultural sector and the agro-allied businesses to boost value addition and job creation.

9. Finally, he said the executive needs to devise immediate strategies to ease the suffering of the ordinary people across our country, with particular attention to citizens in IDP camps. “The images emerging from this zone of deprivation and hunger is no longer acceptable. Government should accelerate interim measures to provide social safety-nets to our people and assuage current high levels of misery in the land. Such intervention should seek to fully execute the social spending framework already provided in the 2016 budget,”

THIS MAN GO GOOD FOR PRESIDENT:

I refuse to be an example of bastard that will call her nation a useless country. But this our leaders are really not helping matter. They didn't deem it fit to recall the senate from their endless holiday. Hope they are satisfied now . We need every possibly intervention to return sanity in every areas in this country

princemillla:
I refuse to be an example of bastard that will call her nation a useless country. But this our leaders are really not helping matter. They didn't deem it fit to recall the senate from their endless holiday. Hope they are satisfied now . We need every possibly intervention to return sanity in every areas in this country

The Senate don't have the interest of Nigerians at heart. Why didn't they called-off their recess before now to join the government to tackle this recession? They are just making noise as usual

jossy4joseph:


The Senate don't have the interest of Nigerians at heart. Why didn't they called-off their recess before now to join the government to tackle this recession? They are just making noise as usual

That's the point bro.. We need quick actions

SARAKI, THE FACE OF CORRUPTION

Finally all our pregnant Senators has returned from maternity leave!!
Anyone who defends or speak in favour of any of these politicians, irrespective of party affiliation will not survive this recession. I mean it.

pedel:
Finally all our pregnant Senators has returned from maternity leave!!
Anyone who defends or speak in favour of any of these politicians, irrespective of party affiliation will not survive this recession. I mean it.

Lol

wawaboy1:
THIS MAN GO GOOD FOR PRESIDENT:

I could see the mind games of Saraki already but it is dead on arrival. Let me give you this assurance that Saraki can never become Nigeria's President. He doesn't have the wherewithal to be a good president and he is even worst than Buhari you so much detest. I can see his CCT's case and other criminal case at the appellate Court loading already. A Useless demonic person is he and should be avoided. Saraki ko, Sapati ni

jossy4joseph:


The Senate don't have the interest of Nigerians at heart. Why didn't they called-off their recess before now to join the government to tackle this recession? They are just making noise as usual

God bless you bro for having that discerning spirits that had since eluded many youths here. You sabi them too much. That Saraki must be jailed because he is just pretending to be sympathetic to the plight of the masses but I can see through him already that he is worst than Buhari. Just check out the points; 1, 3, 6 and 9 he raised they all stink of HYPOCRISY. He never fulfilled any of those points when he was a demonic Governor of Kwara State for 8 good years.

7. “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,” he said.

release funds? Where the funds wan come from? Abi the ones they have been injecting into the economy you no see that one?

PMB say he need ''emergency'' powers so he can sale some of the presidential fleet and make some decision/ actions you no talk about that one.

Suddenly, everyone has become an economics guru