Reps concur with Senate to oppose assets sale

The House of Representatives on Thursday resolved to concur with the resolution passed by the Senate opposing the planned selling off of national assets by the Buhari administration to pull the nation out from the present economic recession.

Already, as part of government’s plan to dispose off of some prized assets, the administration has reportedly put up for sale two jets in the presidential fleet.

Daily Times recalls that the Senate at plenary on September 27, 2016, passed a resolution calling on the federal government to jettison the idea of selling of national assets.

But the House yesterday while unanimously adopting a motion sponsored by the Deputy House Leader, Rep. Buba Jibril alligned with the Senate to kick against the option of assets sale and instead tasked the executive to prepare an economic stimulus bill that will be presented to the National Assembly for consideration and which is designed to pull the country out of recession.

The House presided over by the Speaker Yakubu Dogara consequently adopted all the resolutions passed by the Senate on the state of the economy, including that

advising the federal government to explore all avenues that will restore oil production in the country to an avareage of 2.2 million barrels per day.

Also, the House further urged the Buhari administration to re-negotiate all the joint venture partnerships with oil multinationals in relation to production cost and profit margins in such a manner favourable to Nigeria and to commit 10 per cent of the national budget to agriculture and solid minerals.

Lawmakers further advised the federal government to release funds to critical sectors of the economy, reduce vandalization of oil piplines in the Niger Delta region as well as creating social safety nets in the country.

The House resolution also called for a wider stakeholders meeting with Niger Delta elders and other interest groups in the oil rich volatile region to seek ways to end vandalism of oil facilities by militants.

Other recommendations of the Senate ad hoc committee on the state of the economy adopted by the House include, the payment of contractors who have completed their contarctual obligations and the payment of all salaries and outstanding pension liabilities.

The administration was also advised to reconstitute the board of the Central Bank of Nigeria and other critical agencies to ensure that they operate in accordance with enabling laws.

The House called for the amendment of Section 162 of the 1999 Constitution as amended to make it compulsory for the federal government to save part of its revenue accruing into the federation account and the quick completion of the Ajaokuta Steel Complex and other critical infrastructure in the country