Shell Energy Entrepreneurs banner Yudala banner
Senate begins final work on economic recovery Bills this week

By Mayowa Okekale, Abuja on 05/12/2016

Share on facebook Yahoo mail icon Gmail icon

Views: 648

Senate in session
Senate in session

Nigerian Senate has restated its commitment to step closer to passing half of its historic and much needed economic reform package as six of the 11 priority economic growth and reform bills are slated for public hearings between December 5 and 8.

The legislation scheduled for public hearing on December 5 includes the National Development Bank of Nigeria Bill, which is intended to provide short, medium and long term financing to participating financial institutions for loans to small scale, medium and industrial enterprises in agro allied businesses, manufacturing, mining and the National Road Fund Act to fund the rehabilitation and maintenance of the national road system.

Also, there will be public hearing on the same day on the Federal Roads Authority Act, which is to manage the federal roads network so that it is safe and efficient, with a view toward meeting the socio-economic demands of the country and the Customs and Excise Reform Act, which seeks to reform the administration and management of the Customs Service for greater accountability and revenue generation.

On December 6, Land and Marine Transport Committee will hold public hearing on the National Transport Commission Act. The legislation establishes a National Transport Commission as an effective, independent and impartial authority in the transport sector.

 

The following days, December 7 and 8, the Committee on Upstream Petroleum will hold public hearings on the Petroleum Industry Governance Bill (PIB). This long awaited legislation will establish a framework for the creation of commercially oriented and profit driven petroleum entities that ensures value addition and the internationalisation of the petroleum industry.

Procedurally, legislation is referred to the committee with the appropriate jurisdiction for it to hold public hearing after the bill has passed the first and second reading during the Senate plenary session.  Once the committee submits the public hearing report to the full Senate, the legislation is subject to a third reading, or final passage by members sitting at plenary as a committee of whole.

Commenting on the progress being made on the passage of key bills, the Chairman of the Committee on Media and Public Affairs, Sen. Aliyu Sabi Abdullahi said the "Senate has been on a steady march to complete passage of the bills which forms our economic growth package before the end of the year. We have maintained all along, that we would not rest until we did our part to end the recession, spur economic growth and bring relief to the people,” he further stated.

The Senate’s economic strategy was unveiled on September 20 of this year by Senate President, Dr. Abubakar Bukola Saraki.  The 11 bills were part of a wider list of recommendations to President Muhammadu Buhari’s administration for how the National Assembly (NASS) could work with the Presidency to end the recession, restore investor confidence and begin to reorient the Nigerian economy.  Key to much of the agenda is providing greater space in the economy for private sector participation, support for entrepreneurship and above all job creation.

Also commenting on the busy week awaiting the Senate, Saraki said: “This is a very important week for the Senate.  We have moved beyond partisanship and we have moved beyond rhetoric. We are now in the realm where we have really worked to deliver something meaningful to the people of Nigeria.”

Senator Abdullahi concurred with the Senate President. “People should really pay attention to the work the Senate has produced.  The economic crisis provided the opportunity to work for long overdue reforms in government administration and accountability. The Senate seized upon the opening and now the country is on the verge of truly benefitting from the work of the NASS,” he said.

•Photo shows the Senate in session.

 

Source Newsexpress

Posted 05/12/2016 02:39:15 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Blame Wike for your woes, Rivers APC tells...

Rivers First Lady makes case for Special Trust...

Angelina Jolie files for divorce from Brad Pitt...

RIGHTSView: Nigeria, country where 150 lives is not...

Zungeru dam communities get compensation

Like Buhari, Nigeria’s economy also on recovery path...

Barcelona attack kills 13 in tourist spot

Nullify Ikpeazu’s election, Otti tells Abia Governorship Election...

No time frame for the return of the...

Entering 2016 with trepidations, By Olusegun Adeniyi

Naval Chief warns against illegal operation of vessels...

21,780 teachers fail primary 4 exam

 

Latest News BREAKING: US government shutdown ends as Trump signs Bill Nigerians in UK march against killer herdsmen PDP, APC trade tackles over demolition of Borno Secretariat Sanchez completes Man Utd move, to go into battle on Friday Lassa fever hits Ondo •Kills medical doctor in Edo Why my farm was attacked, burnt — Falae CBN boosts forex market with $210m Kwara youths reject Buhari’s nominee as INEC Resident Electoral Commissioner What Goldman Sachs is telling high net worth clients about the stock market Sunny, hazy conditions to prevail today in North, Central states; clouds, rains likely down South Evil man lands in trouble for defiling 13-year-old girl Pastor Adeboye salutes Gani Adams on installation as Aare Ona Kakanfo

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (316,544 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (307,193 views) Shameless Genevieve Nnaji exposes breasts in public (245,731 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,896 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,515 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,981 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (156,120 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (140,516 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,409 views) Lagos plane crash: Journalist releases victims’ names (124,876 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (122,241 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,204 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,857) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (201) Entertainment (431) Features (541) Global Business Monitor (222) International (1,754) Interviews (139) Live Commentary (28) Love Matters (100) News (32,104) Opinion (869) Pidgin (10) Politics (4,369) Religion (667) Sports (1,409) Stock Watch (26) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!