ABUJA – In spite of criticisms against the Treasury Single Account (TSA) policy of President Mohammadu Buhari by some senators, especially those in the opposition Peoples Democratic Party (PDP), the Senate yesterday rejected a call that the President should reverse the TSA policy, as well as the call by the Senate President for the government to sell off national assets to raise capital.
This is just as the upper chamber yesterday admitted two newly elected senators in its fold, including senator Isaac Alfah, who represents Kogi East senatorial District on the PDP platform, and Benjamin Uwajumogu, who represents Imo north on the platform of All Progressives Congress (APC).
Recall that during the two day Senate debate on the economic recession in the country, some of the lawmakers had blamed the massive job loss in the country and poor liquidity in the financial system of the country on the controversial TSA policy of the government, calling for reversal.
At plenary session yesterday during the adoption of the recommendations to be submitted to the President, the Senator representing Imo East in the Senate, Samuel Anyanwu, had urged his colleagues to add that the Senate should include that the TSA should be reversed, which was supported by Bassey Albert Akpan, but this was flatly rejected by majority of the lawmakers.
However, in other recommendations as adopted by the lawmakers, the Senate urged the President to as a matter of urgency,prepare an economic stimulus Bill containing all the fiscal stimulus packages, investments, and incentives designed to pull the country out of recession, to the National Assembly for accelerated consideration and passage.
Other recommendations adopted by the Senate include that the executive should ensure constant meeting of fiscal and monetary authorities for harmonization of all policies , particularly lower interest rates for genuine investors in the real sector, as well as medium and small scale farmers and processors.
It also recommended that the Government must engage in meaningful and inclusive dialogue with the aggrieved Niger Delta militants to avoid escalation of the unrest in the region and ensure protection of Nigeria’s oil and gas assets to facilitate increase in oil production and boost revenue from there.
Ut added that the President should as a matter of urgency, appoint a Senior Special Assistant who should lead a team that coordinates the government’s engagement with all stakeholders in the region, specifying that the team should include Senators from the Zone.
The Upper Chamber also adopted recommendation urging the President to reconstitute the Board of Central Bank (CBN) and all other critical agencies in order that the operate in accordance with the enabling laws.
To solve the age long problem associated with saving for the rainy day by the federal government, the Senate adopted recommendation seeking for amendment of section 162 of the constitution to make it possible for federal government to save money to that effect, etc..
In ensuring that the recommendations get to the President on time, the Senate also resolved that the report of all the 22-point recommendations should be personally delivered to the President by the Senate President.
After adoption of the resolutions, the Senate Whip, Senator Olusola Adeyeye (APC Osun Central) rose through order 43 to emphasised that resolutions now adopted represents the Corporate Decision of the Senate as against individual submissions made by Senators last week, during the general debate.
