Senate will pass Buhari’s $30bn loan request-Lawan
.As PIB, constitution amendment, power sector, solid minerals dev top 2020 agenda
Against public outcry about the nation’s rising debt profile, the Senate is set to give President Muhammadu Buhari’s government legislative backing to borrow about $30 billion fresh loan.
Presently, the Debt Management Office currently put the nation’s debt profile at over $83 billion as at end of first quarter of 2019.
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The President of the Senate, Ahmad Lawan, gave the position of the upper legislative chamber on Monday while fielding questions from journalists at a press parley in Abuja.
Addressing a press conference to intimate Nigerians on the achievements of the 9th Senate within the last six months of its inauguration, Lawan as well listed priority agenda of the Senate in the year 2020.
Lawan said: “The question of whether we will pass the loan request of the executive arm of government, yes, we will pass it. If we don’t have money and you have projects to build, how will you provide infrastructure that you need?
“But one thing is that, we are going to be critical that every cent that is borrowed is tied to a project. These are projects that will have spillover effects on the economy and we will undertake our oversight so well to ensure that such funds are properly, prudently, economically and transparently are applied on those projects.”
Explaining why the request was rejected in 2016 by the Senate, Lawan said: “In 2016, the Senate did not pass the loan request of the Executive at that time and the reason was because there were no sufficient details.
“I want to inform this gathering and indeed Nigerians that the letter conveying the loan request of the Executive came with every possible detail and in fact we will ensure that we are getting the right information from the Executive arm of Government. So, the situation is not the same.
“In 2016, there were no submission of details. This time, I think the Executive has learnt its lesson and the letter came with sufficient details.”
Unveiling the agenda of the Senate in the year 2020, Lawan said the Senate will focus on the Petroleum Industry Bill (PIB), 1999 Constitution amendment, the 2010 Electoral Act (Amendment), Agricultural revolution agenda for food security, legislations to encourage mining of solid minerals and power sector development.
“Some of the bills that will be accorded priority when we return from the Christmas and New Year break in January are the Petroleum Industry Bill, Electoral Reforms Amendment Bills and Amendment of the 1999 Constitution.
“The National Assembly will this time around adopt a different approach to make the passage of the PIB a reality. We want to see a situation where the Legislature and the Executive work very closely to have a PIB that will attract investment into the oil and gas sector in Nigeria.
“We want to create an investment climate that will be competitive. We know some other countries have this product, therefore, we have to be competitive, we have to create an environment where the businesses make profit”, he said.
He said the quarterly oversight will be placed on revenue generating agencies, including FIRS, Customs, NNPC, among others, adding that the Senate will particularly focus on the ability of the agencies to meet their revenue targets.
To this end, he said the lawmakers will intervene as appropriate in cases where the factors inhibiting the achievement of the set revenue target require policy or legislative interventions by the parliament.
The Senate president said the Senate will want both the legislature, executive and other relevant stakeholders in the sector, particularly the IOCs (International Oil Companies), to work together to ensure that the environment works for every interest.
Speaking on the Electoral Act Amendment, Lawan said “The Electoral Reforms Amendment Bill is a priority because of the urgent need to improve our electoral processes and secure the democratic gains that we have made in the Fourth Republic.
“We want to pass the Bill well ahead of the next electoral cycle in 2023 and avoid the political heat and pitfalls that imperiled the efforts of the eight National Assembly which passed the same bill close to the last general elections.
“We are not oblivious of the interest and concerns some of these bills have generated from the public. But we must not forget that lawmaking is a rigorous process that allows for all sides of the argument to be heard and the true will of the people established before a bill becomes law.
“On behalf of my distinguished colleagues, I pledge that we, as elected representatives of the people, will always ensure that the will of our people is pivotal in our legislative business. This Senate and indeed the ninth National Assembly will not pass any bill that is not in the national interest. Ours is and will remain a Senate that will always work for Nigerians”, he assured.
Recounting the gains and giant strides recorded by the 9th Senate under his watch, the Senate President said it has also confirmed 12 key appointments.
These, he listed to include Chief Justice of Nigeria, Ministers of the Government of the Federation, Chief Judge of the Federal High Court, President of the National Industrial Court of Nigeria; and chairmen and members of eight Commissions, Services and Corporations.
He said presently the Senate is screening the Presidential nominees for the National Hajj Commission, Federal Inland Revenue Service (FIRS), Asset Management Corporation of Nigeria (AMCOM), promising that the Senate is also likely to pass the 2020 Budget for the Federal Capital Territory before it embarks on Christmas and New Year recess.
“The Senate has, within the past six months, received 78 public petitions which were referred to the Senate Committee on Ethics, Privileges and Public Petitions. Most of these petitions were presented by private citizens with grievances against agencies or agents of government.
“The committee has so far examined nine of the petitions, concluded its investigations and laid its reports on the table. The Committee is also working on the other petitions with a view to satisfactorily addressing the grievances behind them.
“At our plenary proceedings, we took the decision to convene roundtable discussions on three critical sectors of our economy. This exercise started last week Monday with the power sector.
“The Federal Government in recent years has invested billions of dollars in this sector, most of which money appears to have gone down the drain as the problems of inadequate power supply continue to plague Nigeria without let.
“On Tuesday last week, we held a similar exercise on the Solid Minerals and Steel sector and on Thursday, we focused on the Agriculture sector. Solid Minerals and Agriculture offer us great potential to transform our economy and revenue profile and wean Nigeria from the current unsustainable reliance on oil.
“In our determination to ensure diversification of our economy, we are going to work with Executive arm of Government to reposition the two sectors. The ninth Senate has enjoyed a harmonious working relationship with the House of Representatives and the Executive.
“The benefits of the harmonious relationship with the Executive are evident in the timely passage of the budget and finance bills and the prompt assent by the President to the Deep Off-shore and Inland Basin Production Sharing Contracts Act CAP D3 LFN 2004 (Amendment Bill, 2019”, he said.
Speaking on the allegation that the Senate under him is a rubber stamp of the executive, Lawan said despite their desire for cordial relationships with the other arms of government, the Senate and indeed the ninth National Assembly will continue to firmly exercise its oversight role on the executive agencies with a view to ensuring transparency, accountability and good governance.
“Our loyalty as legislators is to the Nigerian people, the Constitution and the oath that we took at our inauguration. I assure you that the ninth Senate and National Assembly will not betray the trust of the people. We are going to serve our fatherland with love and strength and faith”, he assured.
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