Senate decision on sales of national assets to resolve economic issues.

DECISION OF THE SENATE TOWARDS A MOTION MOVED ON SALES OF NATIONAL ASSETS

ABUJA – THE Senate, Tuesday, moved against last week’s recommendation of National Executive Council asking the Federal Government to sell the country’s national
assets.

The council had recommended the sale of the assets in raising capital to shore up foreign
reserves and by extension, bailing out the country from the current economic recession.

The Senate decision was in line with the recommendations of its ad-hoc committee set up to review its last week’s two-day debate.

The committee in its report submitted in plenary, outrightly rejected the government’s
planed action, a decision which ran contrary to the position of the Senate President, Bukola
Saraki, who had earlier backed government’s decision.

The Senate in line with recommendation to that
effect, called on President Muhammadu Buhari
to as a matter of urgency, prepare an economic stimulus Bill containing all the fiscal stimulus packages, investments, and incentives designed to pull the country out of recession, to the National Assembly for accelerated consideration
and passage.

The committee in its recommendation of the
sale of National Assets which was however rejected, said “being a sensitive issue should be
approached from a commitment to protecting the common patrimony of Nigerians by preventing the assets from falling into the
hands of sharks, assets strippers and cannibalizes while also guarding against the fuelling of further inequities in the society and
polity” Other salient recommendations adopted by the
Senate include; Urging the executive to ensure constant meeting of fiscal and monetary authorities for harmonization of all policies ,
particularly lower interest rates for genuine investors in the real sector as well as medium
and small scale farmers and processors.

It also recommended that the Government must engage in meaningful and inclusive
dialogue with the aggrieved Niger Delta militants to avoid escalation of the unrest in the region and ensure protection of Nigeria’s
oil and gas assets to facilitate increase in oil production and boost revenue there from.

To this end, the recommendation added, that the President should as a matter of urgency,
appoint a Senior Special Assistant who should
lead a team that coordinates the government’s
engagement with all stakeholders in the region,specifying that the team should include Senators from the Zone.

The Upper Chamber also adopted
recommendation, urging the President to reconstitute the Board of Central Bank, CBN,
and all other critical agencies in order that the
operate in accordance with the enabling laws.
To solve the age long problem associated with saving for the rainy day by the federal
government, the Senate adopted
recommendation seeking for amendment of section 162 of the constitution to make it
possible for federal government to save money to that effect.
In ensuring that the recommendations get to
the President on time, the Senate also resolved
that the report of all the 22-point
recommendations should be personally delivered to the President by the Senate President.

After adoption of the resolutions, the Senate Whip, Senator Olusola Adeyeye (APC Osun
Central) rose through order 43 to emphasise that resolutions now adopted represents the
Corporate Decision of the Senate as against individual submissions made by Senators last
week, during the general debate.