Fidelity bank card banner Camano banner

Presidency confirms plans to request emergency powers from National Assembly

By News Express on 23/08/2016

Views: 1,243

The Presidency late Monday, confirmed plans by the Nigeria’s Economic Management Team to request to seek for emergency powers from the National Assembly to enable President Muhammadu Buhari push polices that would revitalise the economy.

A terse statement from Office of the Vice President signed by the Senior Special Assistant to the President on Media and Publicity, Laolu Akande, confirmed the move but said the decision is yet to be passed to the President.
“The Economic Management Team has indeed been considering several policy options and measures to urgently reform and revitalise the economy. Some of these measures may well require legislative amendments and presidential orders that will enable the Executive arm of government move quickly in implementing the economic reform plans.
“As far as I know, this has not been passed on to the President, the Federal Executive Council or the Legislative arm of government. So at this point, there are no further details to share.”
Earlier, reports had disclosed plans by the Economic Management Team chaired by Vice President Yemi Osinbajo to seek emergency powers for the President. The team, it was gathered reviewed the various policies that has so far been introduced during the lifespan of administration and how they have affected the economy.
The economic team was said to have also gauge the mood of the polity and decided that unless there is an urgency which some of the extant laws may not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government.”
The team had therefore proposed an executive bill titled “Emergency Economic Stabilisation Bill 2016” which is to be presented to the National Assembly when the Senate and the House of Representatives resumes from recess on September 12. The bill, it was gathered will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery packages within the next one year.
According to earlier reports in some Nigerian dailies, Buhari through the bill will be seeking for powers to: abridge the procurement process to support stimulus spending on critical sectors of the economy; make orders to favour local contractors/suppliers in contract awards; abridge the process of sale or lease of government assets to generate revenue; allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly; amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding, can do so; and to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of business. (BD)
•Source: BusinessDay Nigeria. Photo shows Vice President Osinbajo.

Source News Express

Posted 23/08/2016 3:11:19 PM





You may also like...
10 more political parties sign pact with CUPP...

Gallant Eagles battle to a draw in Liberia...

Group raises the alarm over increasing rape and...

I am not in politics for fun, frivolity...

REVEALED: How Obiano cost Anambra N90B investment •Rights...

Fayose storms Ekiti House on okada to inaugurate...

Tension in MASSOB over rumoured plot to assassinate...

Police blows up device sent to University of...

President Buhari fuelling crisis in Kano APC —...

Health minister dies after marathon race

Arewa youths' anti-Igbo agenda: Act now to avoid...

BREAKING NEWS: Trump to speak with Buhari this...


Latest News Why El-Zakzaky was brought back from India without treatment — FG N3bn fraud allegation: CSO gives Oyo-Ita 72 hours to resign or face mass protest Varsity unions begin strike on Monday Murderers of 2 Enugu Catholic Priests, 28 other suspected criminals in Police net Peace Corps of Nigeria to attend UN Conference in USA Police arraigns Enugu monarch for alleged attempted kidnap HoSF, Obono-Obla’s alleged fraud, testament of Buhari’s stinking Presidency — PDP 2019 Guber: Bayelsa PDP directs delegates to lodge in designated hotels in Yenagoa •Warns aspirants against disorderliness, hijacking of delegates Fidelity Bank reinforces commitment to digital technology, adopts open banking Lagos emergency workers protest over unpaid salaries, bad working conditions Police rescues 3 kidnapped persons in Ogun Gas deal: FG to appeal British court’s ruling over seizing of $9bn


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (527,202 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (437,876 views) Shameless Genevieve Nnaji exposes breasts in public (382,538 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (321,608 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (289,552 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (250,777 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (245,280 views) 10 cars more expensive than Jets (231,868 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (227,371 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (213,614 views) Lagos plane crash: Journalist releases victims’ names (192,599 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (190,570 views)


CBN milk production

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (98) Business & Economy (4,391) Business Verdict (78) Columnists (1,093) Complaints & Requests (95) Enterprise & Opportunities (214) Entertainment (647) Features (792) Global Business Monitor (416) ICT Monitor (58) International (3,834) Interview (198) Live Commentary (30) Love Matters (166) Maggie's Blog (379) News (50,043) Opinion (1,320) Pidgin (17) Politics (11,300) Religion (1,085) Sports (2,131) Stock Watch (39) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera