The 11 economic
bills now receiving accelerated consideration by the 8th Senate will
help to create 7.5million jobs and reduce poverty by 16.4 per cent when
passed into law, Senate President, Dr.
Abubakar Bukola Saraki has said.
Saraki who
disclosed this in his welcome address to Senators on resumption from
their Christmas and New Year recess, urged the relevant committees to
fast-rack the priority Bills so they can be passed
and submitted to the executive alongside the 2017 budget.
According to a
statement by his Chief Press Secretary, Sanni Onogu in Abuja, Saraki
also stated that the 2017 - 2019 Medium Term Expenditure Framework and
Fiscal Strategy Paper (MTEF/FSP) would be
debated and passed this week while the consideration on the 2017
Appropriation Bill (budget) would occupy the "three sitting days" of
next week.
He however urged
all heads of Ministries, Department and Agencies (MDA) to ensure
timeous submission of their annual budgets within the current budget
cycle or risk waiting for the next fiscal cycle
if they fail.
"As long as our
economy is still in recession, our work is not done. Because our people
are still being laid off; so long as factories are closing shop, for as
long as the hardship in the land continues
to bite harder, investment continues to dwindle and the foreign
exchange market remains fragmented, I will be demanding even much more
from us to get all our economic reform bills passed," Saraki said.
He added:
"Ideally we would like to see them pass together with the 2017 budget.
Let me therefore urge all our committees involved with our priority
bills to double efforts to ensure that by the end
of the first quarter of this year we will have these bills ready.
"We promise to pass our priority economic reform bills to help aid our economic recovery. This is a promise we must keep. There
are already,
new NASSBER (National Assembly Business Environment Roundtable)
research findings projecting that our priority bills, will have an
output impact equivalent to an average of 6.87% of GDP over a 5-year
period on the economy.
"The average
annual growth in jobs is estimated at approximately 7.55 million
additional employments as well as an average of 16.42% reduction in
Nigeria’s poverty rate.
"Over the
projected 5-year period, it is suggested that the reforms, which these
bills would engender, may add an average of N3.76 Trillion to National
incomes (National Disposable Income was N85.62
trillion in 2014), equivalent to 4.39% of 2014 figures.
"These
statistics make the delivery of these bills imperative and confirm
evidently that we have got our priorities right so far. It is hoped that
as we begin to turn our focus now towards the passage
of the 2017 budget, these bills will be implemented simultaneously with
the budget to enable us exit the recession quickly.
"It is therefore
imperative that we immediately begin work earnestly on the MTEF to
ensure passage by the end of the week. In this way, consideration and
debate on the 2017 budget will immediately
follow in the 3 “sitting days” of the next week. It
is our hope that we will with this budget begin the implementation of
the report of the Committee on Budget Reforms, which has since submitted
its report.
"This will
enable more Nigerians participate in the budget consideration process,
deepen the review and create the necessary efficiencies we expect from
our budget implementation," he said.
He noted that
2016 was a "very challenging year" for Nigerians, but assured the
lawmakers that the work the Senate has done is gradually setting the
stage for a greater and better 2017.
"It is already
historic that within the last quarter, which incidentally is the second
quarter of this session, we all rolled up our sleeves, with sweat on our
brows and successfully passed 49 bills
through 3rd reading and 68 bills through second reading," Saraki said.
"This is a
record setting feat, which has never been matched in the history of the
National Assembly. That within a period of four months in the middle of
the term of any past National Assembly, 49
bills are passed in a single quarter.
"I want to
especially thank all the committees who worked tireless to help us
achieve this milestone. Let me also thank President Muhammadu Buhari for
showing faith with the work we are doing here
at the National Assembly as he has by today signed into law 16 of the
bills we have passed into law already," he said.
He condemned the
recent crisis and killings in Southern Kaduna and said that the Senate
would carry out a thorough investigation to unravel the issues and
advise the executive appropriately.
The Senate
President said: "While we have our attention on the economy and are
working with sweat on our brows to improve it for the betterment of our
people, we cannot lose sight of the callous and
growing circle of violence across the country, especially now in
Southern Kaduna.
"We condemn in
totality the depravity being exhibited on the streets of Kafanchan. This
Senate will not pay lip service to it neither will it sit idly by and
watch innocent Nigerians being slaughtered
on the basis of their religion, ethnic group or political persuasion.
"No, we will not
stand aloof. Let me therefore; use this opportunity to call on the
leadership in the state to use its authority and constitutional mandate
to bring to immediate halt the growing orgy
of violence that has enveloped Southern Kaduna.
"This new
theatre of conflict is one too many and must be nipped in the bud.
Thankfully, a motion to this effect is already before us. We will ensure
a thorough investigation is carried out to unravel
the issues and advise government appropriately on the matter in order
to ensure that all those found culpable are severely dealt with
irrespective of who may be behind them.
"This will
ensure there is no repeat of this madness and assure the people of
Kaduna that injustice and impunity will not be allowed to triumph over
our collective will to maintain our national unity
and coherence," he said.
He reiterated
the importance of the 2017 budget in helping the economy to exit
recession and urged his colleagues to double up efforts to get the
passed budget to the executive for implementation
within the shortest possible time.
"There
is hardly a point reiterating the importance of making the 2017 budget
the most successful budget we have ever passed, neither is it
important to emphasise the need to have this budget back on the desk of
the executive on time for implementation," he said.
"As you may be
aware, based on the recommendations of the Budget Reform Committee, we
are working towards ensuring that budgets are prepared and submitted
timely, so that implementation will follow
a regular fiscal circle.
"In this regard,
the National Assembly will not tolerate agencies of government not
submitting their budgets within the budget period. This is why I urge
all agencies yet to submit their budgets to
do so quickly as budgets not received within time may have to wait for
the next budget circle," he said.
He empasised the
need for the National Assembly to pursue and conclude the ongoing
constitutional review process by the end of March and said "We must do
this to ensure that our people begin to enjoy
the benefits of the intended reforms which will help strengthen our
unity, increase our prosperity and opportunity as we as expand our
liberty and happiness across the country."
He said the Senate would henceforth not spare any organization that trample on the rights of consumers in the country by paying keen
attention to the "protection and preservation of consumer rights" adding that the "current situation where consumers’ rights are violated and treated with indignity must stop."
"We are prepared
to defend the rights of Nigerians to receive a superior quality of
product or service purchased with their hard-earned resources," Saraki
said. "We will not stand for the exploitation
of consumers and we have already shown that we are unafraid to tackle
such an issue whether perpetrated by public or private sector
service-providers;
"As was the case
of the intended data tariff hike proposed by the Nigerian
Communications Commission (NCC) which we moved swiftly to prevent. We
want people to know that they can run to us and we
will in turn rise in defense of the Nigerian consumer who should be
respected as a driving force in the economy," he said.
On the power
sector, Saraki said: "Before we left for the break, myself, a select few
of us and stakeholders in the power sector met to get an understanding
of why no progress has been made thus far
despite the best intention; and the revelations were mind-boggling.
"There had been
errors in the privatisation process and the model by which the power
sector is being operated—whether at generation or distribution—will
never take us where we need to be.
"It has failed
and nobody appears willing to tackle the issue head-on towards a
permanent resolution. I have mandated the Senate Committee on Power to
continue the consultation with the relevant parties
to forge a path to solving our crippling power deficit. After all, if
we are going to drive Nigerian industry, we need to resolve this and
fast," he said.
He lamented that
the issue of policy inconsistencies continues to challenge the nation's
business environment and reiterated his view that "for a private
sector-led economy to thrive, we need to reform
our policy environment to give investors and our businessmen and women
ample adjustment time to make informed investment decisions rather than
have uncertainties."
According to
him, "This is especially important in the agriculture and solid mineral
sectors where we have significant economies of scale and opportunities
for diversification of our economy. In
view of this we shall, in consultation with stakeholders across board
be looking at legislative measures that could increase the potential for
a more stable policy environment starting with the agricultural
businesses and solid mineral resources sectors of
our economy," he said.
He also called
on the executive to commence an open and meaningful dialogue with the
Niger Delta militants in order to stabilize the petroleum industry and
take advantage of rising crude prices in
the international community to turn around the fortunes of the nation's
economy.
"The Petroleum
Industry continues to be critical to the health of our economy. This is
why, the Senate is urging the Executive to take positive steps to begin
open and meaningful dialogue with those
aggrieved in the Niger Delta to proffer lasting solutions that will
help us take advantage of the emerging international oil market outlook
to revamp our economic fortunes.
"The proposed
engagement we suggest must be sincere, constructive, open, and
confidence building. This Senate is willing to assist and play whatever
role necessary to facilitate a successful agreement
that would help us see to the end if the lingering conflict," Saraki
said.
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