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Senate ignores consideration, passage of N22.7tr Ways and Means, adjourns to February 28

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***As Nigeria risks additional N1.8trillion debt

The planned final consideration and passage of N22.7trillion Ways and Means Restructuring request forwarded to the senate and the House of Representatives by President Muhammadu Buhari in December, 2022 for expeditious consideration suffered another setback on Wednesday as the Senate adjourned till February 28th without its passage.

The inability of the Senate to pass the N22.7trillion Ways and Means Restructuring request by President Buhari may put the country at risk of incurring additional N1.8trillion debt as President Buhari had warned three weeks earlier when he assented to N21.83trillion 2023 budget.

The request was neither listed on the Order Paper used for plenary on Wednesday nor mentioned by the Senate leader who is the Chairman of the special committee set up for that purpose.

The President of the Senate , Ahmad Lawan, had on Tuesday last week, declared that the Senate was ready to approve the request, provided required details of the spendings were made available by the Finance Minister, Zainab Ahmed and Governor of the Central Bank , Godwin Emefiele.

He said if not for Restructuring of N22.7trillion Ways and Means request, the Senate and by extension, the House of Representatives would have adjourned plenary on Thursday last week till after the Presidential and National Assembly election.

“We must have necessary information for passage of the N22.7trillion Ways and Means Restructuring request as 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 (last 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 had said
But the Senator Gobir led committee did not present any report for consideration by the Senate on Tuesday and Wednesday this week, making the Senate to adjourn without approving it as earlier planned .
The committee had lamented that the expected details from the executive arm of government on how the N22.7trillion was expended within 10 years were not provided
Nigeria, as warned by President Muhammadu Buhari three weeks ago, risks incuring additional N1.8billion with non – approval of the requested N22.7trillion Ways and Means Restructuring by the National Assembly.
President Buhari who gave the warning when assenting to the N21.83trillion 2023 budget had said : “Balance of N22.7trillion Ways and Means, has accumulated over several years and represents funding provided by the CBN as lender of last resort to the government to enable it to meet obligations to lenders, as well as cover budgetary shortfalls in projected revenues and/or borrowings.

”I have no intention to fetter the right of the National Assembly to interrogate the composition of this balance, which can still be done even after granting the requested approval.

”Failure to grant the securitization approval will however cost the government about N1.8 trillion in additional interest in 2023 given the differential between the applicable interest rates which is currently MPR plus 3% and the negotiated interest rate of 9% and a 40year repayment period on the securitised debt of the Ways and Means”.

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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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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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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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