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N23.7trilliion Ways and Means: Senate cautions executive on need to brace up for passage

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***Blames Finance Minister, Emefiele for delay

The Senate has cautioned some officials in the executive arm of government to furnish it with required details for the passage of N23.7trillion Ways and Means Restructuring forwarded to it by President Muhammadu Buhari in December last year .

Controversy had trailed President Muhammadu Buhari’s request for approval of restructuring of N22.7trillion Ways and Means advances given the federal government by the Central Bank of Nigeria (CBN) when the senators penultimate week turned down the request amidst rowdy session.
The lawmakers raised objections while considering the report of the Committee on Finance for Approval of restructuring of N22.7trillion Ways and Means advances collected by the Federal Government from Central Bank of Nigeria (CBN) within the last ten years.

However, President Buhari while reacting to the lawmakers objection had told the senate during a meeting that should they continue with their resolve to block the plan to restructure government loans from the Central Bank, the country will be made to pay an extra $4 billion to service its debt.

Buhari indicated that should they fail to grant the securitization approval it will cost the government about 1.8 trillion naira in additional interest in 2023.
However at plenary on Tuesday the lawmakers specifically asked the Minister of Finance, Budget and National Planning, Zainab Ahmed and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to supply required information on the presidential request to the special committee set up for that purpose last year within three days

The red chamber warned that in view of Presidential and National Assembly elections coming up next month, it will be forced to adjourn plenary this week or latest by Tuesday next week for practical participation in campaigns.
Senate’s warning came after a request made by its Leader, Senator Ibrahim Gobir (APC Sokoto East) who is the Chairman of the Special Committee set up to interface with the Finance Minister and CBN Governor for details on the N27.3trillion Ways and Means Restructuring, for additional three days .
Gobir who rose through Order 40 of the Senate Standing rules under personal explanation, told the Senate that series of attempts made by the Committee from 28th December, 2022 to Tuesday, 17th January, 2023, to meet the Finance Minister and CBN Governor for the required details proved abortive.
He said, “As a special committee for urgent and thorough assignment, we hit the ground running immediately after composition on 28th of December last year.
“For required details on the N22.7trillion Ways and Means Restructuring, six vital questions were raised, five for the CBN governor and one for the Finance Minister, but their trips abroad, prevented us from asking them the questions.
“Now that they are around, we request the Senate to give us additional three days for thorough work on the assignment and submission of report” he said.
Apparently piqued by the submission, the President of the Senate, Ahmad Lawan in his response said the Ways and Means request from the President, is a very serious issue that must not be taken with levity by all those concerned.
The Senate President declared that the upper legilative chamber is ready to approve the request after thorough scrutiny which can only be done if required details are provided by relevant officials from the executive arm of government.
“We must have necessary information for passage of the N22.7trillion request and time is not on our side in the Senate now in view of coming general elections .
“If there is need for the Senate to sit up to Friday this week for thorough consideration and passage of the request, it will be done but the affected officials from the executive must also expedite action on provision of required information as regards documents authorising approval and disbursement of the monies totalling N22.7trillion”, he said.

President Muhammadu Buhari had in separate letters to both Chambers of the National Assembly on December 21, 2022, sought for approval of restructuring of N23.7trillion Ways and Means .
The President in the letter said : “The ways and means advances by the central bank of Nigeria, to the federal government has been a funding option to the federal government to cater for short term or emergency finance to fund delayed government expected cash receipt of physical deficit.

“The ways and means , balances as at 19th December 2022 is N22.7 trillion.
“I have approved the securitization of the ways and means balances along the following terms ÷ Amount. N23 .7 trillion, Tenure 40years, Moratorium on principal repayment , three years , Pricing interest rate 9%, .
“Your concurrence and approval is sought to allow for the implementation of same”
Attempts made by the Senate to approve the request during passage of the N21.83trillion 2023 budget on 28th of December last year failed , making it to set up the Senator Gobir led special committee to laise with the executive for necessary information.

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Legislature

NASS Clerk wades into DSS, Staff face-off, tells security operatives to be civil

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***Reads riot act

Apparently piqued by the commotion caused by the alleged brutality of some top staff of the National Assembly on Friday by the personnel of the Department of State Services (DSS), the Clerk to the National Assembly(CNA), Alhaji Sani Magaji Tambawal has read the riot act to all security operatives in the complex.
He charged them to be civil in carrying out their duties at all times.
A statement signed by Birma Shuaibu Maina, Secretary, Human Resources and Staff Development on behalf of the CNA pointed out that the top management of the National Assembly was aware of the unfortunate incident that happened on Friday, 17th May, 2024.
It further said the CNA and top management team visited Comrade Odo at the National Assembly Clinic and immediately called for an emergency meeting between the Management, Security Personnel and Parliamentary Staff Association of Nigeria (PASAN) officials during which the “unfortunate incident” was deliberated upon and unanimously resolved as follows:
“That DSS and other Security operatives should work in harmony with the Sergeant-At-Arms.
“All security operatives within the National Assembly Complex should be civil in the discharge of their duties.
“All members of Staff should always display their I. D. cards for easy identification”.
Finally, the CNA and the top management appealed to the staff to be “calm, peaceful and law abiding as the situation is under control”.
It will be recalled that a face-off between the DSS and some staff of the National Assembly Friday, led to the brutalization of two senior staff of NASS leading to demonium at the complex

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Legislature

Natasha makes case for local industries development

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***Pays courtesy call on SMEDAN DG

The Chairman Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan, on Thursday, made a strong case for the development of Local industries through creation of a market for local manufacturers rather than just training them in their existing skills.


She spoke when she met with the Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, to make case for the growth of local factories and the manufacturing of made-in-Nigeria products.

The meeting, also attended by Senator Ede Dafinone, Vice Chairman of the Senate Committee on Local Content, focused on developing local content, investing in local manufacturers, and strengthening homemade products to boost the economy and create jobs for youth.


Senator Akpoti-Uduaghan emphasised the need to support local manufacturers and promote made-in-Nigeria products, highlighting the potential of local products like handwoven fabrics (popularly known as Kitipa in Ebira parlance), which can be used to produce shoes for military, paramilitary, and Corps members. This, she noted, would reduce importation and boost the economy.

“You cannot teach a local person how to make shea butter or black soap. They already know it. But what they need is market and access to finance.
“Local manufacturers need training on how to access markets and brand their products for international export. They already possess the skills, but need guidance on branding and marketing,” she stated.

Senator Akpoti-Uduaghan cited examples of successful international partnerships, such as the French cosmetics company L’occitane and Burkina Faso’s Shea butter industry, and Zara and Ethiopia’s cotton industry. She suggested that Nigeria could similarly partner with international brands like Prada or Louis Vuitton to boost its leather industry, creating revenue and downstream sectors.

The lawmaker criticised the government’s ‘50,000-era enterprise’ initiative, stating that it does not effectively support local industries.

She also emphasised the need for agencies like SON and NAFDAC to be more accessible and responsive to small-scale businesses.

By harnessing the local content of every part of the country, growing and strengthening it to produce in commercial quantity for local consumption and export, Senator Akpoti-Uduaghan believes that Nigeria can create more jobs, reduce importation, and boost the economy.

In his remarks, the SMEDAN boss promised to create a viable market for local content industry by working closely with the National Assembly to encourage local manufacturers to boost the local products that are needed in the country and valued outside the shores of Nigeria.

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Legislature

Senate okays establishment of North West Development Commission

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The Senate has approved the North West Development Commission (NWDC) bill to address the challenges facing the seven states in the geopolitical zone.

The approval came after the consideration and adoption of the report of the Committee on Special Duties on the NWDC (Establishment).

The bill to establish the commission was sponsored by t

The Deputy President of the Senate, Senator Barau Jibrin and 20 other senators from the seven states in the North West geopolitical zone sponsored the bill to establish the commission
Chairman of the committee, Sen. Shehu Lawan Kaka (APC, Borno Central) moved the motion for the presentation and consideration of the report, while Sen. Ireti Kingibe (LP, FCT) seconded it.
Presenting the committee’s report, Senator Kaka pointed out that the intent and purpose of the bill are well structured and strategically streamlined for the socio-economic development of the North West geopolitical zone of the country.

He added that the commission’s establishment would bring the federal government closer to the North Western states and meet the yearnings and aspirations of the people.
He, therefore, urged the Senate to pass the bill.

When the bill was put to vote by the Deputy President of the Senate, Senator Barau I Jibrin, who presided over the plenary, the senators unanimously supported it.

In his remarks, Senator Barau commended his colleagues for supporting the bill’s passage.

When established, he said the commission would address the challenges facing the geopolitical zone and, by extension, the country.

Describing the North West as the food basket of the country, he said the commission, when established, will work towards the restoration of infrastructure destroyed by Boko Haram insurgents and bandits in the region.

” So if we are serious about ensuring we have food and for food security to be attained in this country, we must provide the necessary infrastructure for all our key sectors to thrive well.

“This commission is needed. I commend you all for supporting this; no one said no. Everybody supported this idea. So, now we are pushing the Bill to the House of Representatives for their approval and then to Mr President for assent,” he said.

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