Senate begins work on key economic recovery bills tomorrow

The Senate yesterday said it would commence work on six of the 11 priority economic reform bills from tomorrow. A statement by the Senate President Media Office said the legislation scheduled for public hearing tomorrow includes the National Development Bank of Nigeria Bill, which is intended to provide short, medium and long-term financing to participating financial institutions for loans to small scale entrepreneurs.

Others to benefit from the bill include medium and industrial enterprises in agro-allied businesses, manufacturing, and mining sector. The second bill is the National Road Fund Act for the rehabilitation and maintenance of the national road system.

Also, public hearing on the Federal Roads Authority Act, which is to manage the federal roads network, so that it would become safe and efficient, with a view to meeting the socio-economic demands of the country and the Customs and Excise Reform Act, which seeks to reform the administration and management of the Customs Service for greater accountability and revenue generation will hold the same Tuesday.

On December 6, Land and Marine Transport Committee will hold public hearing on the National Transport Commission Act. The legislation establishes a National Transport Commission as an effective, independent and impartial authority in the transport sector.

According to the statement, on December 7 and 8, the Committee on Upstream Petroleum will hold public hearings on the Petroleum Industry Governance Bill (PIB). This long-awaited legislation will establish a framework for the creation of commercially oriented and profit-driven petroleum entities that ensure value addition and the internationalisation of the petroleum industry.

Commenting on the progress being made on the passage of key bills, the Chairman of the Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi said the “The Senate aimed to complete passage of the bills on economic recovery before the end of the year.

Also commenting on the busy week, Senate President Bukola Saraki said “this is a very important week for the Senate. We have moved beyond partisanship and we have moved beyond rhetoric. We are now in the realm where we have really worked to deliver something meaningful to the people of Nigeria.”

(Guardian)