The Senate has resolved to prioritize and fast track the
passage of the Petroleum Industry Bill (PIB) and other legislations capable of
contributing to the quick recovery of the national economy, and provide
favourable level playing environment for both local and foreign investors.
This was part of the 20 points resolution passed by the
Senate as its legislative intervention to speedily pull Nigeria out of the
current economic recession, and put the economy on the path of sustainable
growth.
Apart from the PIB, other bills that will enjoy priority
attention include the National Development Bank of Nigeria (Establishment)
Bill, Nigerian Ports and Harbours Authority Act (Amendment) Bill and National
Road Fund (Establishment) Bill.
Others are National Transport Commission Bill, Warehouse
Receipts Act (Amendment) Bill, Companies and Allied Matters Act (CAMA),
Investment and Securities Act (Amendment) Bill, Customs and Excise Management
Act (Amendment) Bill, Federal Competition Bill and National Road Authority
Bill.
The decision to fast track the bills was taken after the
Senate concluded a debate on the report of its ad-hoc committee on economic
recession and the way forward.
The committee was set up to harmonize the position of the
Senate after a two-day debate that followed the speech on the current economic
recession delivered by the Senate President, Dr. Abubakar Bukola Saraki to
welcome his colleagues back from their annual recess.
In addition to the speedy passage of the bills, the Senate
further resolved to institute adequate legislative framework including
amendment of the Constitution to aid government economic restructure and
strengthen the fight against corruption.
It resolved further to "immediately commence a sustained
oversight drive to monitor the activities of the Executive in the
implementation of the 2016 Budget.
"To this end, all Committees of the National Assembly
will be empowered to undertake regular visits, checks and engagements that will
ensure the full implementation of the Budget, and the Government’s stimulus
plan", the Senate stated.
It expressed readiness to always engage the Executive in
order to create the necessary synergy on all matters of economic and social
interventions that are capable of bringing succor to Nigerians.
It urged President Muhammadu Buhari to urgently consider
building and institutionalizing an enduring partnership with the legislature
for the promotion and sustenance of good governance and economic policy
formation and implementation.
0 Comments