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Senate Intervenes to save Local Governments

  • Responds to State of the nation - invites Ministerstates lgs senate
  • Receives report on Agric credit scheme bill

The moribund State of Nigeria’s local government and the dwindling fortunes of the nation’s economy took Centre stage on the floor of the senate.

In a motion: an urgent need to address the present economic state of the nation, the senate observed that the report of the National Bureau of Statistics (NBS) last week released the nation’s economic scorecard recording gross domestic product (GDP) , inflation and unemployment.

The report depicts that the nation’s economy plunged into recession with a deadline of 0.36 per cent year-on –year in real terms which tis a drastic drop from 2.11 per cent is Q4 2015 in GDP.

It is recalled that the central Bank of Nigeria had in March, 2016 deployed a contracting monetary policy increasing benchmark interest rate from 11% to 12% and cash reserve ratio from 20% to 22.5% with a palpable decline in oil production in the Niger Delta by 800,000 bpd vis-a-vis the benchmark production for 2016 budget of 2.2 million b/d, owing to the vandalisation of oil pipelines, and the seeming inability of non-oil revenue collecting Agencies to meet the nation’s revenue target, the senate thus summoned the minister of finance and Governor of the Central Bank of Nigeria to brief the senate on the monetary fiscal policies adopted to salvage the current economic situation.

Standing in the name of Senator Mustapha Bukar –Katsina North, the Senate mandated the committee on states and Local Government to conduct a public hearing on local government reforms aimed at strengthening local government administration in Nigeria within the context of the 1999 constitution.

The Senate had expressed worries by the flood of petitions from Nigerians and Stakeholders in particular on the current situation of state local government relations especially in the light of rampant dissolutions of elected council officials and enthronement of unelected care-taker Committee (CTC) and long standing issues of council funding.

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Published on: 2015-10-14 00:05:45 Hits : 9803
Senate Clears Ministerial Nominees No filibustering Final list released Screening continues Contrary to expectation today, the Nigerian Senate has cleared all Ministerial nominees with no filibustering. They are Mr. Kayode Fayemi, Chief Audu Ogbeh, Osagie Ehanire, Am...

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The Senate | Federal Republic of Nigeria | National Assembly Complex | Three Arms Zone, PMB 141, Abuja | Nigeria