Nigeria facing worsening economic crisis since existence – Senator Abdullahi

By Tom Okpe

Chairman, Senate Committee on National Planning and Economic Affairs, Senator Yahaya Abdullahi has regretted the present economic situation in the country, saying that Nigeria is facing the worst economic crisis in the history of its existence.

He said the Committees’ of National Planning in both the House and the Senate should synergise, to ensure they work in the next four years to achieve the set target of turning around the nation’s economy, while advising the Executive on the way forward.

Senator Yahaya, spoke at the inaugural meeting of the House Committee on National Planning on Wednesday in Abuja, saying that there’s need for the National Assembly, be represented by the two committees to seat with the executive arm of government to work out ways of getting the economy back on track again.

He warned against any mistake on part of the parliament that may compound the already precarious economic situation in the country, adding that the parliament must be able to guide the executive on how to get out of the quagmire.

Senator Abdullahi further stressed that both committee will soon convene a joint meeting of both committee to enable them discuss their agenda of working together in the overall interest of the country.

In his earlier remarks, Chairman of the House Committee on National Planning, Rep Ibrahim Ayokunle Isiaka said the committees can only succeed in their assignment if they work together and reinforce one another as a team.

He drew attention to the fact that National planning involves process of setting goals, developing strategies, and outlining tasks and schedules to accomplishment of national goals.

“There’s every need to roll our sleeves, tighten our belts for the tasks ahead in the spirit of nationalism and patriotism; the Committee will join hands with all well meaning stakeholders to create and bequeath indicators that will be adjudged one of the best in this 10th Assembly.”

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He said the Committee will embark on Inter Governmental and Budget Reforms of multi-faceted and interlinked nature of sustainable development, which calls for interventions to be tackled simultaneously through a coordinated approach for reversing declining economy, stabilizing the polity and integrating the various societal interests, all with a view to enhancing national development.

He disclosed that currently, there is a mixed reaction among various stakeholders including scholars, the media and some members of the private sector but, our Committee would do its best at bridging the gaps between the euphoria and skepticism about this concern.