The Nation Newspaper

Tag: Senator Ike Ekweremadu

Senate okays $5.5 billion loan for FG
The Senate Tuesday approved the request of President Muhammadu Buhari to borrow the sum of $5.5 billion.

The sum of $2.5 billion out of the $5.5 billion, according to the presidential request, will be used to fund the 2017 budget while the balance of $3 billion is meant to refinance domestic debts.

Nigeria’s debt profile stood at N19.6 trillion as at June 30th, 2017 according to Debt Management Office (DMO) document.

Before the unanimous approval of the loan, some Senators called for caution on the way and manner the Federal Government rushes to take foreign loans.

The lawmakers particularly expressed fear that the ability of the country to repay the loans might be limited if the national currency depreciates further.

Senator Yusuf Abubakar Yusuf, (Taraba central) who was one of those who voiced this fear said: “We must be very careful because this is dependent on what happens in our foreign reserves. If our foreign exchange rate goes to N500/USD1, we are going to have a very serious problem on generating enough foreign exchange to pay the foreign debts.”

The approval of the loan followed the adoption of the report of the Committee on Local and Foreign Debts that vetted the request sought partly to finance the deficit in the 2017 budget.

Chairman of the Committee, Senator Shehu Sani who presented the told the Senate that “the terms and conditions of the loan are favourable and do not pose any compromise to the integrity, independence and interest of Nigeria and its citizens.”

He added, “The projects are essential for rapid economic and social development of Nigeria. And that the projects, when completed, will create jobs through a chain of economic activities.”

The committee noted that the $3 billion for refinancing of the country’s domestic debts will not lead to an increase in the public debt portfolio.

It said that the loan will reduce the cost of the debts while the projects are essential for rapid economic and social development of Nigeria.

It said that the construction of the second runway in the Nnamdi Azikiwe International Airport will enhance the safety of air passengers, increase the use of the airport by international airlines, “thus increase the revenue base of the government.”

It said that the rail projects when completed will reduce the use of roads, its attendant congestion and thus minimise the cost of road maintenance.

The committee said that the Mambila Hydro Power Project which had long been abandoned when completed will add substantially to the National grid and improve power output of the country.

The $3 billion refinancing loans, it said, will create a significant decrease in the cost of financing the nation’s debt stock while creating more borrowing space in the domestic market for the private sector to benefit from.

The Committee recommendation: a.The committee to recommend for approval by the Senate the issuance of USD2.5billion to finance the following projects in 2017 Appropriation Act,
1. Mambilla Hydropower Project, ii. construction of a second runway at the Nnamdi Azikiwe International Airport Abuja, iii. counterpart funding for rail projects iv. construction of the Bode-Bonny Road, with a bridge across the Opobo Channel.
2. That the Senate for approve the USD3billion for refinancing of the nation’s domestic debt; c. That the Senate to emphasise effective oversight of the proposed projects.
Deputy Senate President, Senator Ike Ekweremadu who presided commended senators for supporting approval of the loan.

He said, “This Senate will continue to partner with the Federal Government in matters that concern the ordinary people of Nigeria.

“The implementation of the 2017 budget is key because any Appropriation Act that is not implemented is worthless.

“So, whatever needs to be done to ensure that the budget is implemented, will always have the support of this Senate.”

“And since this is tied to the implementation of the 2017 budget, I believe that that had informed the support that this request is now generating.

“We need to urge the Debt Management Office to ensure that our debt profile is monitored so that we will always ensure that it is within the acceptable limit.

President Muhammadu Buhari had in his request for the approval of the two external loans last month said that in order to implement the external borrowing approved by the National Assembly in the 2017 Appropriation Act, the Federal Government issued a $3OO million Diaspora Bond in the International Capital Market (ICM) in June 2017.

He noted that “the balance of the 2017 external borrowing, in the sum $3.2 billion is planned to be partially sourced from issuance in the ICM of $2.5 billion through Eurobonds or a combination of Eurobonds and Diaspora Bonds, while $700 million is proposed to be raised from multilateral sources.

“It should be noted that the intention is to issue the Eurobonds first, with the objective of raising all the funds through Eurobonds, and that Diaspora Bonds will only be issued where the full amount cannot be raised through Eurobonds.”

He listed the projects as the Mambilla Hydropower Project; construction of a second runway at the Nnamdi Azikiwe International Airport; counterpart funding for rail projects and the construction of the Bode-Bonny Road, with a bridge across the Opobo Channel.”

On the $3 billion for the re-financing of domestic debts, the president said: “In addition to the implementation of the external borrowing approved in the 2017 Appropriation Act, in order to reduce debt service levels and lengthen the tenor profile of the debt stock, the Federal Government seeks to substitute maturing domestic debt with less expensive long-term external debt.”

President Buhari said that the Federal Government plans to source $3.0 billion through the issuance of Eurobonds as approved by the Federal Executive Council at its meeting of August 9, 2017.Listing what he believed could be the benefits of the loan, Buhari stated that the proposed re-financing of domestic debt through external debt would achieve more stability in the debt stock while also creating more borrowing space in the domestic market for the private sector.

The President told the Senate that the fact that in the 2017 Appropriation Act, debt service at N1.663 trillion represents 32.73 per cent of the government’s total expenditure, which makes it important to take urgent steps to reduce debt service costs.
November 14, 2017
Senate endorses swearing-in president, vice at NASS

The Senate Thursday passed a Bill for an Act to provide for the inauguration of the President and the Vice-President at the National Assembly Complex.

The passage of the Bill followed the adoption of the report of the Senate Committee on Special Duties which scrutinized the legislation.

The Bill was sponsored by Deputy Senate President, Senator Ike Ekweremadu.

Chairman of the Committee, Senator Abdulaziz Nyako who presented the report noted that the Senate had on Thursday, December 8, 2016, deliberated on the general principles of the Bill.

“The Bill seeks to provide for the inauguration or swearing in of the President and the Vice-President to be carried out within the confines of the Parliament as it is done in the United States and other democracies of the world.

“This is in recognition of the fact the legislature is the assemblage of the representatives of the entire country and as such, it will not be out of place for such important national event to take place in the National assembly.”

Ekweremadu who presided said that inauguration of the President and his vice at the National Assembly Complex is a standard practice in most presidential systems.

“That is the standard. Because the National Assembly is the symbol of democracy and here is the temple of democracy. It makes every sense that presidents will take oath office within the confines of the highest legislative body in the land under the supervision of the peoples’ representatives.”

October 12, 2017
IPOB, devolution of powers, others top Senate discussion

The Nigerian Senate and the House of Representatives resumed on Monday after over two months recess. The national lawmakers are resuming at a time the that country has pressing national issues to address.

Divergent views have been expressed on various issues by stakeholders including the lawmakers.

The lawmakers were scheduled to resume on September 19 but the massive repair work going on at the Assembly complex forced the management to extend the resumption date by one week. Members of the two chambers of the National Assembly proceeded on annual vacation on July 27.

Senate President, Abubakar Bukola Saraki, is expected to deliver an address to welcome his colleagues back to chamber for legislative business.

Saraki’s address, no doubt, will touch on some burning issues and ex-ray how far the Senate has complied with its legislative agenda.

The caucuses of various zones are also expected to meet to articulate issues dear to them.

Some of the burning issues that are likely to dominate discussions in the upper chamber include the agitation for devolution of powers to states also tagged restructuring.

The activities of the Indigenous Peoples of Biafra (IPOB) the proscription of the group and its classification as a terrorist organization by the Federal Government are expected to be discussed by the lawmakers.

Senate President has already set the tone of discussion of IPOB when he described that proscription and the classification of IPOB as a terrorist organization as a terrorist organization as unconstitutional.

Some of the lawmakers seem uncomfortable with the position of Saraki and are ready to state their positions.

However, those close to Saraki said that the position the Senate President took on the proscription and classification of IPOB as a terrorist organization remained his personal opinion which informed why he personally signed the statement conveying his position.

Following the fire and fury that attended National Assembly rejection of the proposal for devolution of powers to states, Saraki promised that the issue would be re-visited.

Deputy Senate President, Senator Ike Ekweremadu, also said that an avenue could be created to reconsider the power devolution clause.

That majority of Nigerians are anxiously waiting to see the controversial clause would be re-visited is not in doubt. What is in doubt, however, is how the proponents of devolution of powers will win over senators and House of Representative members who are bent to ensure that the power devolution clause did not see the light of the day.

The 2018 budget is another issue that expected to dominate discussion in the two chambers of the National Assembly.

The Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) that will outline the revenue outlay and financial projections for the 2018 Fiscal year is expected to be submitted to the National Assembly immediately the lawmakers resume.

The consideration of the MTEF and FSP has in the past formed a source of friction and disagreement between the Presidency and the Legislature.

The performance of the 2017 budget will also be x-rayed by the two chambers.

Some outstanding issue including the approval of virement to complete important projects as requested by the Presidency, will also be considered and approved by the lawmakers especially when some road projects are said to have been abandoned by contractors due to lack of funds.

Before commencement of recess in July, Saraki hinted of the need to reshuffle standing committees to make them effective and functional. It is expected that rearrangement of the committees will be one of the issues lined up by the Senate President.

The resumption of suspended former Senate Leader, Senator Mohammed Ali Ndume, is another issue before the Senate.

Ndume was suspended for six months for raising issues concerning alleged certificate forgery against Senator Dino Melaye and purchase of exotic car by Saraki without investigation.

The Borno South lawmaker has served out his suspension and appears to be ready to resume his legislative duties.

Ndume is, however challenging his suspension in court.

September 25, 2017
Ekweremadu to FG: Call off operation Python Dance

Deputy Senate President, Senator Ike Ekweremadu, Thursday condemned in strong terms the military siege to the South East geopolitical zone.

Ekweremadu noted that dialogue and inclusion were best options in resolving the agitation in the region.

Ekweremadu, in a statement by his media aide, Uche Anichukwu, however called on the people of the South East to remain calm as he and other leaders of the region were engaging the Federal Government in meaningful discussions to ensure that the South East Operation Python Dance was called off soonest.

Ekweremadu said: “The military siege to the South East is uncalled for because there is no prevailing situation in the region to warrant it in the first place. Instead, it is the Python Dance that appears to be creating problems and raising tension in the region. The agitation in the South East at the moment is best resolved by way of dialogue and a sense of inclusion.

“I want to assure our people that I have been engaging the Presidency and security agencies meaningfully on the issue. It is my hope that the Operation Egwu Eke will be called off.

“Until then, however, I call on the military to respect the rights of the citizens. The various videos and reports of gross human rights abuse making the rounds in the social and traditional media are nevertheless very disgusting and disheartening. They should be thoroughly investigated by the relevant authorities with a view to establishing the truth and ensuring that no human rights violator goes unpunished”

September 14, 2017
Freetown mudslide a monumental regional disaster, says Ekweremadu

…Calls for immediate regional action

Deputy Senate President, Senator Ike Ekweremadu, Wednesday described as a monumental regional disaster, the floods and mudslide that killed hundreds of persons in the outskirts of Freetown, the Sierra Leone capital.

Ekweremadu is the immediate past Speaker of the Parliament of the Economic Community of West African States, ECOWAS Parliament,

In a statement by his Special Adviser, (Media) Ekweremadu called for immediate regional and international action to boost rescue efforts and alleviate the sufferings of the victims.

He said: “The personal account by the Vice President of Sierra Leone, His Excellency, Victor Foh, confirming the death of at least 300 persons as a result of the tragic mudslide is heartbreaking.

“It is a natural disaster of monumental proportions, not only for Sierra Leoneans, but also the entire ECOWAS family. My heart goes out to the people and government of Sierra Leone as well as the serving and former members of the Sierra Leonean National Delegation to the Community Parliament.

“This calls for immediate intervention by the ECOWAS and the international community to boost rescue efforts and provide robust humanitarian support to both the injured and the displaced”.

While praying for the peaceful repose of the souls of the deceased, the former regional Speaker also prayed God to grant the sub-region, especially the affected families and the people of Sierra Leone the fortitude to bear the irreversible loss.

August 16, 2017
PDP Senators condemn police raid on Ekweremadu’s guest house

The Peoples Democratic Party (PDP) Senate Caucus Friday evening condemned in strong terms the police raid on Deputy Senate President, Senator Ike Ekweremadu’s guest house in Abuja.

The police on Friday raided the National Assembly guest house in Abuja assigned to the use of the Deputy Senate President Senator Ekweremadu.

The police was said to have claiming that a whistle blower tipped them off that Ekweremadu hid arms and money in the property.

The Caucus in a statement in Abuja by its spokesman, Senator Enyinnaya Abaribe described the Police action as unwarranted, unacceptable and a deliberate attempt to muzzle the opposition.

Abaribe also faulted police explanations that they acted on whistle blower tip off.

He noted that the “failed gestapo-like operation was nothing but a smokescreen to cover up a carefully orchestrated plot to intimidate Senator Ekweremadu and by so doing cow the opposition from pointing out the failings of the government of the day.”

According to the caucus, “the raid said to have been ordered by the Inspector General of police, Mr. Ibrahim Idris, on a property owned by the National Assembly was a willful affront on democracy.”

“We had raised alarm on this plot not too long ago and now they have carried out the assignment only to reach a dead end, to the embarrassment of the police and other anti-democratic forces bent on casting a wicked shadow on our fledgling democracy.

“We of the Senate PDP Caucus will never be intimidated or cowed in discharging our constitutional mandate of providing a responsible opposition.

“Is it not an irony that the raid in the National Assembly guest house is coming on the eve of the democracy day anniversary?

“A raid on a property of another arm of government is a dangerous continuation of attack on the institutions that affects the needed checks on the excesses of the executive.

“It cast an ominous sign and this must stop,” Abaribe said.

May 26, 2017
Ekweremadu seeks removal of age limit for political offices

Deputy Senate President, Senator Ike Ekweremadu, Thursday canvassed the total removal of age as a criterion for holding political offices in the country.

He instead called for a situation where the electorate are allowed to make their choices based on their assessment of the competence of those who present themselves for elections.

A statement by the Special Adviser, (Media) to the Deputy Senate President, Uche Anichukwu, said that Ekweremadu made the call when he received in audience the “Not Too Young to Run (#NotTooYoungToRun) Campaign championed by the Youth Initiative for Advocacy, Growth and Advancement (YIAGA) in his office at the National Assembly, Abuja.

Ekweremadu said, “We have just acknowledged the young man, Emmanuel Macron, who is now the President of France. We believe it can also happen here in our country; and we believe that with education and exposure, people can achieve a lot at a very young age.

“Therefore, while many Nigerians are calling for a reduction in the age barrier, it is actually my strong and personal opinion that there should be no age barrier in terms of running for political offices or holding executive positions. I know, and I believe too, that sovereignty belongs to the people, and they exercise this sovereignty through the ballot box. If they desire to vote in a very young person, so be it. That is their choice, and that is what sovereignty is all about.

“For many years now, we have said that the youth are the leaders of tomorrow. If we continue to sideline them with age barrier, then that tomorrow may never come. But as far as I am concerned, that tomorrow has come and people should be judged by their competence, integrity, and capacity, not their biological age. That is the global trend and we cannot be an exception.”

Ekweremadu, who also chairs the Senate Committee on Constitution Review said that the nation’s greatest resource remained the youth.

He commended YIAGA, noting that the nation’s democracy was nevertheless making progress as more youth are now participating actively in the political process.

He said that although the Senate Committee on Constitution Review had submitted its final report to the Senate, constitution amendment was a continuous process and issues not covered could always be accommodated in subsequent amendments even in the same Assembly.

Leader of the delegation and Programme Director of YIAGA, Miss Cynthia Mbamalu, solicited the Senate’s support for the constitution amendment bill sponsored by the Chairman, Senate Committee on Special Duties, Senator Abdul Aziz Nyako, seeking to align the voting age of 18 years with eligibility to contest for political offices in Nigeria.

Citing the recent election of 39-year old Emmanuel Macron as the President of France, she called for more political space for the Nigerian youth.

May 25, 2017
Senate raises alarm over global cyber threats

…Says $450m lost by Nigerian firms to attacks

The Senate has alerted the National Security Adviser (NSA), security agencies and financial institutions to the various dimensions of cyber-attacks going on around the world.

At its plenary on Tuesday, the Senate revealed that some Nigerian firms have lost over $450 million to cyber-attacks in about 3,500 cases.

The security alert was issued following a motion sponsored by Senator Buhari Abdulfatai who urged concerted efforts to secure Nigeria’s cyberspace.

According to Senator Abdulfatai, the latest in the series of the attacks were carried out on May 12, 2017.

Consequently, the upper legislative chamber has mandated its standing committee on ICT and Cybercrime to organise a stakeholders’ conference on the matter.

The conference will be geared toward stimulating a collective reflection among relevant stakeholders and articulating a national and broad-based approach to keeping the country ahead of the challenge.

The senator further revealed that over 75,000 computers, in 99 countries were crippled by “ransomware” last week, which he said, rapidly spreads across the globe.

He cited British hospitals, the Russian Government, German railways and several other big companies among those affected by the attack.

Deputy President of the Senate, Senator Ike Ekweremadu who presided over the plenary, urged stakeholders to come together and find a lasting solution to the menace.

He also warned that strategic institutions of government may equally be targeted if urgent steps were not taken by the relevant agencies to check the spread.

“They hack into our emails every day. I am also a victim. They open social media accounts in my name and I have said it that I am not on social media.

“The main threat is that our strategic institutions may be attacked by these hackers. All stakeholders need to come together to deal with this challenge”, Ekweremadu said.

Addressing newsmen shortly after the plenary session, Senator Abdulfatai said cyber-attacks are taking a dangerous dimension all over the world.

Abdulfatai said, “For instance, the Lloyds Banking Group and Barclays Bank of UK suffered 48-hour online attack from 11th to 13th of January this year, in which the criminals attempted to block about 20 million accounts.

“They bombarded Lloyds, Halifax and Bank of Scotland with millions of fake requests designed to grind the groups’ systems to a halt and asked for a huge ransom in bit coins to end the attacks, which were being prevented by the Denial of Access (DOS) system.

“On the 12th of May alone this year, at least 200,000 targets in over 150 countries were hit by cyber-attacks which the Internet Protocol suggested to have originated from the Middle East particularly from Syria and Iran, as well as from Kenya, supposedly using a malware known as Lazarus to compromise systems in banking and information networks, with no clear evidence yet as to how the act was perfected, and that the criminals are already targeting Nigeria.

“Alarmed about revelations from studies that over 70% of hacking attempts so far, i.e. about 3500 cyber-attacks on the Nigeria lCT space, have been successful resulting in loss of over $450 million and that government servers are currently under serious threat”.

May 23, 2017
Senate stops 38 agencies from expenditure of capital votes

…Gives Buhari two week ultimatum to submit budget

The Senate Tuesday barred 38 corporations, agencies and parastatals from further expenditure of their capital budget 2017.

The upper chamber also gave President Muhammadu Buhari two week ultimatum to submit the 2017 budget of corporations, agencies and parastatals of the Federal Government for consideration and approval of the National Assembly.

It said that the submission of the budget proposals should be done within two weeks in compliance with the Fiscal Responsibility Act and the Constitution.

It resolved that affected corporations, agencies and parastatals should stop forthwith further expenditure from their capital vote pending the submission of their 2017 budget to the National Assembly in line with Section 21 of the Fiscal Responsibility Act.

The lawmakers further resolved that to urgently amend the Fiscal Responsibility Act to penalize infractions of non-submission of budget for appropriation.

Only on Tuesday, the Senate said that 38 agencies are in breach of the Fiscal Responsibility Act for failure to submit their 2017 budget for approval by the National Assembly.

The resolutions followed the unanimous adoption of a motion entitled: “Non-submission of 2017 budget by public corporations in violation of the Fiscal Responsibility Act” sponsored by Deputy Senate Leader, Senator Bala Ibn Na’Allah (Kebbi South).

Na’Allah in his lead debate said that the Senate should be worried about the non-submission of the 2017 budget proposal by statutory corporations to the National Assembly.

He noted that Section 21(1)(2) and (3) of the FRA stipulates that “The government Corporations and agencies and government owned companies listed in the Schedule to this Act (in this Act referred to as the Corporation) shall, not latter that six months from the commencement of this Act and for every three financial years thereafter and not later than the end of the second quarter of every year, cause to be prepared and submitted to the Minister their Schedule estimates of revenue and expenditure for the next three financial year.

The Act also said that “Each of the bodies referred to in Section (1) of this Section shall submit to the Minister not later the end of August in each financial year: a, An annual budget derived from the estimates submitted in pursuance of subsection (1) of this section; and b, projected operating surplus which shall be prepared in line with acceptable accounting practices”…….

Na’ Allah observed that non-compliance to the provisions of the FRA constitutes abuse of power and economic sabotage aimed at frustrating the current economic measures being taken by the present administration to address the economic recession.

He noted that the absence of penalties in the provisions of FRA have emboldened and encouraged the perpetration of the Act.

Na’Allah said that Senate should be concerned that the FRA is failing in its responsibility through complacence in the execution of its mandate.

Deputy Senate President, Senator Ike Ekweremadu who seconded the motion noted that the Constitution is supreme while its provisions shall be a binding force on all authorities and persons throughout the country.

Ekweremadu said, “This constitution is supreme and its provisions shall have a binding force on all authorities and persons throughout the Federal Republic of Nigeria. It goes further in section 80(2) to say that “No money shall be withdrawn from the consolidated revenue fund of the federation except in the manner prescribed by the National Assembly.”

“We are here talking about responsibility of governance. There cannot be any hard responsibility than Fiscal Responsibility because that is the beginning of all evils, we must begin to ensure that we live by the laws we make for ourselves. If we say that ministers are supposed to send the estimates of various agencies under them with the appropriation act of each year that has to be done.

“I recall Mr. President in 2016, President Muhammadu Buhari sends to this National Assembly the appropriation bill for that year together with those estimates. While in 2017, the ministers find it impossible to accompany the same appropriation act 2017 with those estimates of the agencies under them.

“We cannot be going forth and back. I believe that this is time for us to insist under section 88 that gives us power of oversight that this has to be done. We make laws here for the good governance of this country and that is actually what we have to insist. I believe that time has come when we are going to insist that all agencies should stop the expenditure of public funds unless it is appropriated in accordance with section 80 of the constitution which we have sworn to uphold.

“It is our responsibility today to ensure that ultimatum is given to agencies under this government to bring this estimates for us to duly appropriate that is why the constitution provided for a full time legislature because there are enormous work to be done.”

Senator George Thompson Sekibo (River East) asked “if a man who is to give the law fails the law but happens to him because if a man puts a law and another man fails.”

He described the non-submission of the budget estimates of the agencies as a gross misconduct that should not be glozed over “because they are spending public funds.

Senator Solomon Adeola said that the non-submission of the estimates is deliberate.

He suggested that committees should meet with affected agencies.

Senate President, Abubakar Bukola Saraki, thank Na’Allah “for this important motion.”

Saraki said that the motion is at the heart of the fight against corruption in the country.

He said,”Truly this motion is at the heart of this fight against corruption and it is very important as we have seen that independent revenue, the amount of money from independent revenue even exceeds how much we get on oil revenue.

“So, it is a huge amount to our revenue line even when we are talking about looking for money to fund projects, hospitals, education. This is where the source of the revenue are and I cannot see how we can continue in a society where we are fighting corruption where people will be spending money without approval, without appropriations, it must stop, it will stop and it is going to stop from now.

“Clearly we have made our position that based on this amendment this agencies they must get their budget to us in two weeks and committee chairmen I want to appeal that once we get the budget on our own part as well let’s ensure that we do it publicly, very diligently and try and turn it around as quickly as possible.”

Saraki also said that agencies that did not pass through the right channel to submit their budget to the National Assembly should do the right thing.

Affected agencies included Nigeria National Petroleum Corporation (NNPC,) Central Bank of Nigeria (CBN), Bureau of Public Enterprises (BPE), National Agency for Science and Engineering Infrastructure (NASEI), Nigerian Airspace Management Agency (NAMA).

Others are the Nigerian Shippers’ Council (NSC), National Maritime Authority (NMA), Raw Materials Research and Development Council (RMRDC), National Sugar Development Council (NSDC), Nigerian Postal Service (NPS), Nigerian Ports Authority (NPA), Federal Airport Authority of Nigeria (FAAN).

The list also includes the Securities and Exchange Commission (SEC), Nigerian Tourism Development Corporation (NTDC), National Communications Commission (NCC), National Agency for Food and Drugs Administration and Control (NAFDAC), Nigerian Customs Service (NCS) and National Broadcasting Commission (NBC).

Others are National Insurance Commission (NIC), News Agency of Nigeria (NAN), Nigerian Copyrights Commission (NCC), Nigerian Deposit Insurance Corporation (NDIC), Nigerian Civil Aviation Authority (NCAA), Federal Inland Revenue Service (FIRS), Nigerian Immigration Service (NIS), Nigerian Electricity Regulatory Commission (NERC), Radio Nigeria, Federal Housing Authority (FHA), Nigerian Television Authority (NTA), National Automotive Design and Development Council (NADDC), Nigerian Nuclear Regulatory Authority (NNRA), National Business and Technical Examination Board (NABTEB), Federal Mortgage Bank, National Environmental Standards and Regulations Enforcement Agency (NESREA), Industrial Training Fund (ITF), Corporate Affairs Commission (CAC), Standards Organisation of Nigeria (SON), as well as Oil and Gas Free Zone Authority (OGZFA).

May 17, 2017
Submission of 2017 budget report suffers setback in Senate

…2016 budget to run till end of June, says Ekweremadu

The Senate Thursday deferred the presentation and consideration of the 2017 budget report.

The presentation and subsequent consideration of the budget report would have paved the way to the passage of the budget submitted to the National Assembly on December 14^th, 2016.

Although the submission of the report was listed as the first business of the day in yesterday’s Order Paper, it was stepped down.

The inability of the Senate Appropriation committee to conclude work on the fiscal document was cited as the reason for stepping it down.

Senate Leader, Senator Ahmad Lawan, told his colleagues that members of the Appropriation committee of the Senate and House of Representatives were working assiduously to resolve grey areas in the money bill.

Senator Lawan further informed that the budget report is now expected to be laid on May 9th, 2017.

The Senate leader did not say whether the budget will be passed on Tuesday.

Lawan said: “The committee chairman on Appropriations is not here. His counterpart who chairs the Finance committee is not here either. I am aware that members of Senate Appropriation committee are currently meeting with their counterparts in the House of Representatives, trying to settle the differences.

“‎I have also equally been informed that by the grace of God, the budget of 2017 will be laid on Tuesday. Having said this, I will move that we stand down this report till Tuesday.‎”

Deputy Senate President, Senator Ike Ekweremadu, who presided over the day’s legislative business, said that there was no need to apprehension over the passage of the budget.

Ekeremadu noted that the 2016 budget could still run till end of June, within which the 2017 budget would be passed.

Ekweremadu said, “Let me also emphasise for the benefit of the public that we were ready to receive this report today. It was only this morning that it was necessary for us to be sure that we are on the same page with the House of Representatives to avoid any possible conferencing.

“So we will like to see the House and the Senate laying just the same documents so that once we pass, we will now send the documents to the President for assent.

“I think this is important that the point be made and the public know that the harmonization which is going on should be concluded over the weekend to enable us receive the budget report by Tuesday and by the grace of God, have it passed by next week and we will send it to the President for assent.

“Let me also inform the public as well that the tenure of the 2016 budget ends today the 5th because it was signed into law on the 6th of May 2016, but under the constitution, the Federal Government is entitled to continue to spend money based on the 2016 estimates up to the 30th of June, 2017.

“But we will not allow us to get into the reliance on the constitutional provision. Hopefully by the grace of God, we will have this budget next week. We will pass it so that implementation will start in earnest. So I just want to appeal for the understanding of the people of Nigeria.”

President Muhammadu Buhari signed the 2016 budget into law on the 6th of May, 2016.

The lifespan of the 2016 budget expires today, Friday, 5th May, 2017.

There was apprehension of a possible shutdown if the budget is not passed and assented to today.

May 4, 2017