Senate President, Dr. Bukola Saraki, yesterday, reeled off new areas the Eighth Senate will focus in 2016. Saraki unveiled his agenda for the upper legislative chamber at the first Senate plenary for the year.
He said: “Our vision is to substantially enhance the economic wellbeing, liberty and safety of our people. It is my earnest hope that the period of recess just concluded has afforded us all opportunity to reflect on this enormous task ahead as we now enter into the business end of delivering on our agenda.
Saraki also urged his colleagues to be transparent in their legislative activities as well as commit to service delivery to Nigerians.
“Distinguished colleagues, 2016 must be the year of transparency and delivery. We must demonstrate to Nigerian people who put us in office that we are working in their interest to ensure a progressive and inclusive national development plan. The overarching objective of our agenda remains to work with the executive arm to find solution to economic stagnation, wastefulness, discrimination, unemployment, insecurity, corruption and impunity.”
Acknowledging the recent successes recorded by the military in its fight against Boko Haram, the Senate president pledged the readiness of the Red Chamber to work with the executive to end insurgency.
“Never again shall we be held hostage and our territory annexed to terror. This Senate will work with the leader of the executive to begin the process of rebuilding the North East and rehabilitating traumatised victims of terrorism in our country,” he said.
Speaking on key areas the Senate would pay attention to this year, Saraki said: “Distinguished colleagues, let us be clear about this fact; the challenges we face require that our sleeves are rolled up. Let me urge you to oblige us with more of your time, sacrifice and dedication as we have a host of critical matters to consider in this session. I have no doubt in my mind that we are fully kitted for the task ahead.
“Though the problems we face today bite painfully, I firmly believe they present us a unique opportunity to rebuild and transform our economy into a diversified, modernised and competitive economy. It all starts with the 2016 budget and the priority bills we have resolved to pass.
“You would recall that I had on the occasion of the laying of the 2016 budget by Mr. President, reiterated my conviction that for a budget to play its role as a primer of the economic policy of any administration, its process must tick the boxes on efficiency, transparency, the public resources fairly allocated and judiciously implemented. We must, therefore, adopt, going forward, stronger measures to ensure that the 2016 budget is thoroughly interrogated, swiftly considered to ensure prudence, fairness, integrity and timeliness,” the Senate President said.
“Distinguished colleagues, as you already know, our priority bills have been carefully chosen and adopted to enable us lay out the legal, institutional and regulatory frameworks that would plug leakages in the revenue system, create jobs, expand economic opportunities, diversify the economy and make Nigeria a key investment destination of choice for investors.
“We must on our part deliver on these priority bills that will impact on these sectors that are the engine of growth. We must also show a sense of urgency on these bills. We must have a business-like approach to our deliberations. We must treat statutory reports more seriously by ensuring that we fully consider them as required by law.”
He endorsed the recent reversal of the foreign exchange regime by the Central Bank of Nigeria (CBN). He said the move was a step towards a more vibrant forex market that would help businesses in the country.
“As I have recently commented, part of our agenda for economic renewal and development must also include relaxing today’s strict foreign exchange policy. I am happy to note that the Central Bank has moved quickly to review and relax some of these restrictions. We must continue to engage our critical institutions and proffer constructive opinions that would help improve performance. The CBN has taken the right steps towards a more vibrant forex market in order to keep the confidence of the market and maintain a sustainable market disparity. This will in no small way improve the current challenges small businesses already face as a result of the rapidly declining oil prices and access to foreign exchange.
“I know many global financial institutions support this move, as well as the introduction of a greater range of low interest loans for SMEs. We must find ways to encourage entrepreneurship, not hold it back. Connected to this, is the broader issue of devaluation. The Central Bank must broadly consider carefully its measures on this matter,” he added.
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