Saraki To Receive Report On Business Environment In Nigeria

Senate President, Dr. Abubakar Bukola Saraki will on Monday (February 29th) formally receive the Business Environment Legislative Review Report developed by a team of Legal Advisers to the ENABLE-DFID programme, led by Prof Paul Idornigie (SAN).

A statement from the Office of the Senate President in Abuja stated the report initiated by the Senate President was in fulfilment of the Legislative Agenda of the 8th National Assembly geared towards creating a business friendly environment in the country.

The statement added that: "Following the legislative agenda of the Senate and the House of Representatives of the 8th National Assembly, and in consultation with the Nigerian Economic Summit Group (NESG), the Nigerian Bar Association – Section on Business Law (NBA-SBL) and other key private sector stakeholders; the Office of the Senate President initiated a review of the institutional, regulatory and legal instruments currently constraining and impeding business activity in Nigeria. 

"With the technical aid and support of ENABLE-DFID and GEMS 3 programmes, a team of experts conducted a business environment legislative review covering the entire raft of legal structures affecting businesses today. The underlying objective of the review is to provide a framework for the assessment and improvement of legislation and policy affecting businesses in Nigeria"‎, the statement added.

Prof. Paul Idornigie led the team of Legal Advisers that conducted the research of business environment acts and bills and developed the Business Environment Legislative Review Report.

The report is expected to propose priority legislative areas that will provide a solid foundation of evidence to set priorities for new and revised business environment legislation by the National Assembly.

“With the reform of key sectors of the economy, there is a critical need to facilitate an enabling environment for private sector participation. There are Bills pending before the National Assembly that are of priority importance to doing business and overall private sector development in Nigeria, especially in infrastructure delivery”‎, it stated.

Expected at the presentation which will take place at the National Assembly on Monday are the the Speaker of the House of Representatives, Mr. Yakubu Dogara; World Bank representatives; the Chairman of the NESG, Mr. Kyari Bukar, the Nigerian Bar Association - Section on Business Law  (NBA-SBL) representatives led by Asue Ighodalo; and private sector and media stakeholders.

Saraki Assures On Sustainable Economic Policies

Senate President, Dr. Abubakar Bukola Saraki has said that the 8th Senate will collaborate with the Executive to ensure that the policies and programmes of the present administration aimed at reviving the economy are sustained on a  long term basis.

Saraki according to a statement by his Chief Press Secretary, Sanni Onogu, in Abuja, stated this  when he received the national executive of the Nigerian Mining and Geosciences Society (NMGS) led by its President, Professor Olugbenga Okunola.

He said the Senate is on a mission to ensure that the country harnesses her non-oil resources and achieve full diversification of the economy.

Saraki said: "For us in the 8th Senate we have said it that our focus is to continue to give support to those sectors of our economy that will provide employment, increase the earnings of government and the growth of the economy in general. 

"And if you are talking about the growth of the economy, you have to give  particular consideration to the mining sector. And what do we need to do to get that done? I want to assure you that the message I will like you to take away is that the 8th Senate is ready to give all the support in ensuring that we truly begin to harness the hitherto the unexplored and neglected potentials that we have. 

"We have been talking about these potentials for a long time. It is time to talk about realising the potentials and translating them to economic power. how to bring. That is our own vision and mission. 

"We have all seen the downside of being a mono-product economy. We are all suffering from it now. When you see what is happening to our revenues, our foreign exchange inflows and particularly what is happening to even the foreign exchange rate due to our over dependence on crude oil. 

"The projections that it is going to be down for a couple of years means that any serious minded country needs to look at the options available. And some of the things we are seeing now is because there is a lot of speculation out there. 

"A lot of the speculators believe that we don't have the political will to see through some of the policies and programmes aimed at diversifying the economy and that is why you see a lot of them are betting against the Naira. That is why you see all of a sudden, the Naira is rebounding because they are beginning to see that it appears that this government is committed on its policy.

"I want to assure you that we are committed. The political will is there. We are very determined to see that we diversify. All these things you are talking about are well known to a lot of us. The frustration has een that we have not been able to see it through. I want to assure you that this Senate is committed to ensure that we support the executive in sustaining these long term polices. This is important and that is where we must start from," he said.

Earlier, Professor Gbenga Okunola, said the Society visited the Senate President to among others appreciate what the 8th Senate has been doing. 

He said: "We have been talking about diversification of the nation's economy over the years....I think as a society, as professionals, this is what we have been clamouring for over the years that we are sitting on buried riches and that the government is now saying that they want to take this serious gladdens us. 

"That is why we are here to appreciate this government for what they are doing and we are ready to offer our professional help - we are not talking in terms of financial reward - but this is one thing we want to offer our country," he said.

The Nigerian Senate Commences 2016 Budget Reports Collation

The Nigerian Senate began the process of passing the 2016 Appropriation Bill today, the Bill which is scheduled for passage in March, as its Committee on Appropriation has commenced the collation of the 2016 Budget reports from the various sub-committees of the Chamber.

The collation was a fulfillment of the earlier promise made by the Chairman of the Committee, Senator Danjuma Goje.

Buhari Seeks Extension of 2015 Budget Implementation for FCT

President Muhammadu Buhari has sought the extension of implementation of the Budget of the Federal Capital Territory Administration (FCTA) to enable the FCT pay for pending critical to the FCT were still pending. 

In a letter sent to the Senate on Tuesday, President Buhari noted that the FCT administration only had seven months in 2015 for implementing its budget which was signed in May 2015.

Senate: FCT Too Dirty, Gives 21-Day Deadline for Cleanup

The Senate Committee on Federal Capital Territory has give the Area Councils 21 days to clean up parks, markets and the entire FCT or face sanctions.

The Chairman of the Committee Sen. Dino Melaye (APC Kogi West) gave this directive when the committee met with chairmen of the six area councils in the FCT.

Senator Kabiru Marafa Shuns Senate Committee Probe

Senator Kabiru Marafa, representing Zamfara Central on Monday, failed to appear before the Senate Committee on Ethics, Privileges and Public Petitions, to answer to allegations of misguided statements against the National Assembly.

The senator, was petitioned by two senators, Isah Misau (APC-Bauchi Central) and Matthew Urhoghide (PDP-Edo South) ovee comments in a national dailies that demeaned the reputation of the National Assembly.

Abang Dove: The Need for an Inland Container Terminal in Onitsha

Due to the dwindling economy, the Federal Government of Nigeria, the National Assembly, and many well-meaning Nigerians have suddenly come to a moment of self realization. We have reached that point in our lives where we are forced to consider where we got it wrong, how we got it wrong, and what we can do to make the cards that we have been dealt - in these dire economic circumstances - work in our favour.

Saraki Seeks Germany, EU's Support to Eliminate Terrorism, Integrate IDPs

Senate President, Dr. Abubakar Bukola Saraki, on Thursday, called on the German Government and the European Union (EU) to assist Nigeria in eliminating terrorism from the sub-region as well as the resettlement and full integration of Internally Displaced Persons (IDPs) in the country.

Saraki who made the call when the President of the Federal Republic of Germany, Joachim Gauck and his delegation visited the leadership of the National Assembly in Abuja, also said the visit underscores the excellent relationship between Germany and Nigeria.

Senate Queries Zero Implementation Of 2015 Road Contracts.

Senate Committee on Works on Wednesday in Abuja queried the zero implementation of some 11 road contracts that were awarded by the Ministry of Works, despite the release of their mobilisation fees.

Chairman of the Committee, Senator Kabiru Gaya, who queried the development during the 2016 Budget defence of the Ministry, declared the action as unacceptable.

Senate Asks Information Ministry to Submit Budget for North East Operations

The Senate on Wednesday has directed the Ministry of Information to rework its budget and make provisions for its requirements for effective media operations in the North East.

The Committee on Information Chaired by Sen. Eyinaya Abaribe (PDP Abia South) directed that the Ministry should bring a buget that will cater for the needs of its media agencies.

Senate to Probe Obasanjo, Jonathan, 6 Others Over Land Grab

Senate on Wednesday in Abuja declared that it would probe the violation of the Abuja Master Plan by successive presidents and administrations of the Federal Capital Territory (FCT) since 1999 till date.

Chairman, Senate Committee on FCT, Senator Dino Melaye, irked by what he considered an affront by the immediate past Minister of the FCT, Senator Bala Mohammed, on the resolutions of the Senate Committee on FCT, dropped the hint at a briefing with the Senate correspondents.

FG Restricts MDAs from Spending Service Wide Votes Over Abuse

The Federal Government on Thursday disclosed its decision baring Ministries Departments and Agencies (MDAs) from spending money for the Service Wide Votes.

The Minister of Finance Kemi Adeosun told the Senate Committee on Finance that the restriction became necessary in view of abuse of the vote by MDAs over the years.

N25bn TSA Fraud: FG, not MDAs Should Pay for Transfers – Minister

The Minister of Finance Kemi Adeosun on Thursday, said that the company managing the transfer to the Treasury Single Account (TSA) had no business charging Ministries, Departments and Agencies (MDAs).

Adeosun who was responding to questions from the Senate Committee on Finance Chaired by Sen.. John Eno, however clarifies that only about N8 billion was actually deducted.

Alleged 23,000 Ghost Workers: FG Goes After Banks to Recover Monies.

The Federal Government had disclosed plans to go after banks to recover all monies paid to the 23,000 ghost workers registered on the Integrated Personnel and Payroll Information System (IPPIS).

The Minister of Finance Kemi Adeosun disclosed while briefing the Senate Committee on Finance that the ministry was still conducting investigations.

FLASH: Funding to be Allocated to National Assembly, NYSC, Military, MDAs and others by Monday

Reports reaching us has it that the current cash melt down suffered by the Federal Government, the military and legislative arms of government is set to be abated from Monday.

At the moment, the severance packages of aides of the 7th National Assembly are yet to be paid, since the expiration of the Assembly in June 2015.

Lack of Funds Hampered our Fight Against B/Haram in 2015 - Military

The Military Chiefs have said that the non-release of the military's Security vote by the Federal Government as captured in the 2015 supplementary budget was working against the efforts of the security agencies tackling Boko Haram insurgency in the North-east.

 

The Security Chiefs made the disclosure on Wednesday, at a closed door meeting with the leadership of the Senate and the chairmen of committees relating to security agencies.

Saraki to NLNG: End Gas Flaring

Senate President, Dr. Abubakar Bukola Saraki, on Wednesday challenged the management of the Nigerian Liquified Natural Gas (NLNG) Limited to put an end to gas flaring in the country.

According to a statement by the Chief Press Secretary to the Senate President, Sanni Onogu, in Abuja, Saraki who stated this when the Management of the NLNG, led by its Managing Director, Babs Omotowa visited him in Abuja, said it was high time the gas being flared is converted to something more productive as well as ensure the use of cleaner energy in the country.

Senate Summons AGF Over NDDC Funding‎

Senate on Wednesday summoned the Accountant-General of the Federation (AGF), Ahmed Idris, to appear before it over the non remittances of some Federal Government agencies' contributions to the Niger Delta Development Commission (NDDC).

This was sequel to the directive from the Chairman of the Senate Committee on Niger Delta, Senator Peter Nwaoboshi, when the management of the Nigerian Liquefied Natural Gas (NLNG) and Ecological Fund Office (EFO) appeared before the panel to explain reasons why they were not making their obligation to the NDDC.

Senate Expresses Concern Over N350m Swap Scheme

Senate's legislative scrutiny into the 2016 Budget proposal produced another shocking revelation on Tuesday as some N350 million alleged fraud was discovered in the land swap scheme for the Federal Capital Territory (FCT) through the Federal Capital Development Authority (FCDA).

Chairman Senate Committee on FCT, Senator Dino Melaye, said that the Committee will not hesitate to ensure that all administrative anomalies, misappropriation of funds or abuse of law by the past administration of the FCT demands  justice‎

He stressed that such an important project is expected to undergo a pilot scheme engaging one or two districts as projects samples.

2016 Budget Defense: Power Minister Defends Tariff Increase ‎

Power minister defends tariff increase, says it will increase power.

‎The Minister of Power, Works and Housing Babatunde Fashola, on Tuesday in Abuja, defended the increment in tariff saying that it will result to improved power supply. ‎

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He spoke after defending the budget of the ministry before the Senate Committee on Power said that investors would pull out if they could not get returns on their investments.

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