President Muhammadu Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for the economy.
The objectives of the action-plan on the economy, which is in recession, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power.
Government sources said the decision to seek emergency powers for the President was based on a proposal from the economic team headed by Vice President Yemi Osinbajo. The team reviewed the various policies so far introduced and how they have affected the economy.
The economic team, it was learnt, gauged the mood of the polity and decided that unless there is an urgency which some of the extant laws will not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government”.
An executive bill titled: “Emergency Economic Stabilisation Bill 2016” is to be presented to the National Assembly when the Senate and the House of Representatives resume from vacation on September 12.
In the bill, the executive will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.
Buhari will be seeking powers to:
abridge the procurement process to support stimulus spending on critical sectors of the economy;
make orders to favour local contractors/suppliers in contract awards;
abridge the process of sale or lease of government assets to generate revenue;
allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding, can do so; and
to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of business.
The extant law on procurement does not allow contract award earlier than six months after decision. Part of this is a mandatory advertisement of the contract for six weeks. The economic team has found this to be unacceptable, given our present circumstance.
Although the president has the power to order the sale or lease of any government asset to raise cash, “the procedure is cumbersome and long”. The draft bill is meant to ease the process. The government source said about nine government assets may be leased or sold to generate around $50billion to shore up the nation’s foreign reserves and the value of the naira against the United States dollar.
The source said: “Nigeria may be broke at the moment but we are not a poor country, given our assets and capability.”
About N58 billion is trapped in UBEC’s coffers because the states cannot access it as a result of the key condition, which is the payment of 50 per cent counterpart funding. The government is seeking an amendment to the law so that states will pay only 10 per cent as counterpart funding.
The objective is that state governments will have access to cash to develop education. This will facilitate creation of jobs since contracts will be awarded for the projects.
As for contract awards, the government, by the provisions of the law, cannot mobilise contractors with more than 15 per cent of contract sum. This is considered to be undesirable by the economic team given the pace the government wants to move in turning the economy around and in the provision of critical infrastructure. The bill will seek to allow the government to mobilise contractors with 50 per cent of contract sum.
The move to get government agencies to fast tract their operations is to enable foreign investors to come into the country without the current bottlenecks.
Consular offices will now be expected to make visas available within 48 hours and visitors, especially tourists who intend to pick up visas at the entry point, will be able to do so.
Time wasting at the airport with duplication of agencies screening incoming passengers is to be eliminated. Those leaving the country should go without hassle.
For the power sector, the government plans to truck gas from source to the power plants to enable them get what they need for generation.
A government source said: “This may be more expensive but it is a price to be paid for Nigerians’ comfort”.
It was learnt that President Buhari will engage the leadership of the National Assembly before their resumption to solicit support for the bill’s quick passage.
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Which plan now? Na only talk and grammar una Sani? If the job is too much for una make una throw in the towel. No body begged anybody to become Governor or President.
ReplyDeleteI'm often amazed when I read comments like yours @Tolu or whatever you call yourself. Did you have a formal education at all?
DeleteIf you have nothing good to say, keep quiet. If you have no intelligent comment to make, do not waste people's time.
DeleteWhich one do you sabi? Only to type and insult president on internet because he is not from your side ethno-tribal-religious ehh.
DeleteOde MUMU! Wetin be your problem with his opinion? Is this government performing well by your own assessment? Continue to be Ode! MUMU.
DeleteEl-Mumusky the last time I checked on you the doctor was administering some drugs to aid you at psychiatric hospital, Yaba. Can you ever be a part of policy makers, can you ever vie for elective posts, can you even attempt to lead a group of 10 people, do you even have a wife that you husband or children you father? So in your own understanding what the first commentator said was an opinion that needs be dignifeid? You asked if the government is performing and that's a further proof you never graduated maybe just a layoff of some sort in your own right. You are so blinded by ethnocentrism and malicious hatred for no just cause. I suppose your uncle is being probed by the current government for corruption, is why you're a number one enemy of the state. Opinions and criticisms are welcome, let them however be constructive not baseless.
DeleteOur president may just be realising the true state of things in Nigeria. What a pity. Now he needs emergency powers after wasting one yr doing trial and error. Soon you will ask for the constitution to be set aside so that you put up decrees. That's the language you are very familiar with. Otherwise, the economic woes will cime crashing on your head. O nigeria..who put you in this marriage?
ReplyDeleteThese policies are good only is d national assembly wld grant the president such overriding powers.
ReplyDeleteApproval of this bill will spell doom for this country. Procurement laws were composed for a good reason. Given the current state of nepotism in the country,this bill will automatically give the President unrestricted access to award contracts and give employment to a certain part of the country. NASS! Please shine your eye o!
ReplyDeleteThis is the worst administration so far....God punish dem all
ReplyDeleteThis reveals why we should not always swallow white man's practices hook, line, and sinker. Democracy is not ours, but we can modify it to suit us if our leaders are honest about it. Africans are naturally responsive to force, without which change, positive or negative cannot materialize. Buhari had once ruled by force. That is why he was judged successful. Now that he cannot resort to force, he is hamstrung. Death sentence should also be revisited for corruption.
ReplyDeleteEmergency powers to set aside extant laws? An invitation to autocratic rule. The legislature should not yield to this atrocity. Let me president first show how the extant laws constitute an impediment to the execution of his economic plans. Mtchew
ReplyDeleteBuhari was never termed successful any were even as head of his own family...democracy is not a "white thing"its a rite for every born human being(free will).in my opinion we shud open our eyes nd see d wolf in d sheep cloth
ReplyDeleteSo without this powers your can't order the appropriate againcy to carry out their duties. Visa issuance can be done as fast as possible if you have send the Ambassadors and instruct them on what to do having againcy that will monitor them if necessary. What is the duty of central bank governor and finance minister if you are seeking power to sell government properties... If this two quarters can monitor closely the duties of the againcy in charge of the sells and injecting the fund into the economy. Mr. President from my point of view you have good intentions for our country but you are not working with the right team to move this country forward. God bless Nigeria.
ReplyDeleteWhichever one buhari is doing in his best to better this county let him do it, what we need is results and not strategies. His idea is good, but we need to feel the impact, two years is about to go in this regime with no result yet.
ReplyDeleteSo without this powers your can't order the appropriate againcy to carry out their duties. Visa issuance can be done as fast as possible if you have send the Ambassadors and instruct them on what to do having againcy that will monitor them if necessary. What is the duty of central bank governor and finance minister if you are seeking power to sell government properties... If this two quarters can monitor closely the duties of the againcy in charge of the sells and injecting the fund into the economy. Mr. President from my point of view you have good intentions for our country but you are not working with the right team to move this country forward. God bless Nigeria.
ReplyDeleteIt is very unfortunate that some people will write comments without thinking.
ReplyDeleteThis is called thinking from your anus.
Please leave Mr. President alone, if you fail to vote for him come 2019 it is at your own peril gbam.
Talk your own Oga. Stop condemning people's comments. As long as this government is yielding results anybody can talk the way he/she feels.
DeleteEmergency power ko, emergency power ni!This is another move to become totally dictatorial even if it ought to be a good and useful move. Will he utilise it well to the nation's benefits or take it to the extreme? Remember "Power corrupts and absolute power corrupts absolutely".
ReplyDelete