President of the Senate, Dr. Abubakar Bukola Saraki, has charged Nigerians to report any MDA that fails to patronize ‘Made In Nigeria’ as first option to enable the Senate and the relevant agencies take the necessary action.
Speaking with reporters in Ilorin on Saturday after the breaking of fast, Saraki also said the Senate has focused its energies on making the economy work to the benefit of all Nigerians, adding that the Upper House would week discuss a motion on the interest rates being charged by commercial banks on loans to customers, particularly entrepreneurs who need borrowed funds to stay afloat and contribute to the Gross Domestic Product (GDP).
Saraki said: “Over the last two years, our focus has been on the economy, the economy, and the economy. You will soon see how the ‘Made in Nigeria’ amendment to the Public Procurement Act will open more opportunities for Nigerians.
“Additionally, starting with the implementation of the 2017 budget, the Senate will be defending Nigerian businesses by letting them know that if they find any government ministry, department or agency that is not patronizing ‘Made in Nigeria’ as a first option, they should let us know, and we will take appropriate action.”
“If we genuinely want to stimulate local manufacturing and development of the small and medium enterprises so as to generate employment and help our national economy to recover from recession, then people must be able to borrow money at reasonable interest rates. It is difficult for manufacturers to survive while borrowing at about 28 per cent,” he said.
Speaking on the controversial N5 petrol increase, he said the report of the Senate Committee which worked on the National Road Funds Bill came from deliberations during a pubic hearing in which all stakeholders made different suggestions on how to generate funds for maintenance of the nation’s road network but that there was a consensus on the desirability of the Fund and the need to ensure that the money to be generated from sale of fuel for the fund should be accommodated within the current price regime.
“This is an opportunity to clarify the inaccurate reporting. There is a Bill called the National Road Funds Bill. Our roads around the country are not adequately funded. If we are banking on the appropriations process, we will not be able to adequately fund and refurbish our roads.
“Anybody that read the full report would have known that after the public hearing, which involved stakeholders from the road and transport industry, it was recommended that N5.00 (five naira) from each litre of petrol should be channeled towards our roads. However, this is not going to be additional five naira, but five naira out of the present price of N145 that Nigerians are currently paying at the pump,” the Senate President said.
Speaking on the journey thus far, after being at the helm of the Senate and the National Assembly as a whole for the past two years, the Senate President said: “I am comfortable with the support that I have received from my colleagues. One thing that makes the 8th Senate different is that we take initiative.
“For example, a bill like the PIGB would have been easier to pass as an executive bill — however, based on how united we are and focused on the greater good ,the passage of the PIGB goes to show Nigerians the competencies of the Senators of the 8th National Assembly.”
Saraki said the 8th Senate has scored many firsts since its inception and that it has fulfilled its mandate through the passage of several critical economic reform bills, opening of the National Assembly’s budget, and its investigations that have helped in the fight against corruption.
“We are a focused Senate. We are also a people-oriented Senate. We are a Senate of many firsts, if you look at the passage of the Petroleum Industry Governance Bill, the opening of the National Assembly Budget, the passage of Bills like the Ports and Harbors Reform Bill and the Credit Bureau Scheme, you will see that we take governance very seriously.
Speaking on the recent passage of the Nigerian Football Federation Bill by the 8th Senate, the Senate President described it as “A very important Bill that will transform the administration of football in the country. It is very personal to me because as a club owner, I am happy that this Bill will make the administration of football to be in-line with international best practices.”
