Reps staged a walkout over approval for CBN to lend more money to government as 2024 budget is amended again
Opposition Reps stage walkout over raise of ways and means threshold
The emergency session at the House of Representatives called yesterday turned rodwy as some opposition lawmakers staged a walkout from the green chamber over the increment of the controversial Central Bank of Nigeria (CBN) ways and means lending to the Federal Government by 10%.
The protest occurred during the debate on the amendment of Section 38 of the CBN Act to increase the borrowing level from 5 per cent to 10 per cent. Minority leader of the House, Rep. Kingsley Chinda (PDP Rivers), had objected to the passage of the amendment, stating that it would erode the powers of the National Assembly and give room for too much discretionary power to the CBN and the executive arm. He proposed that it should be reduced to 2 per cent instead of increasing it. After a debate on the proposal, presiding offficer and deputy speaker, Ben Kalu, ruled in favour of the raise, which was howver pegged at 10 percent instead of the 15% proposed in the bill. The ruling did not go down well with some lawmakers who then walked out in protest.
Tinubu’s achievements touted
In order to encourage Nigerian youths to shelve planned nationwide protest for August 1st, President Bola Tinubu‘s ministers, on Wednesday, highlighted the achievements of the administration and measures being taken to cushion hardship in the country. The ministers revealed these achievements at a one day town hall organised by the Speaker of the House of Representatives, Rep Tajudeen Abbas (APC Kaduna), YIAGA Africa and Konrad Adenauer Stiftung. Minister for youth development Dr. Jamila Bio Ibrahim revealed, among other things, that the Nigerian youth investment fund has been restructured with allocation of ₦110 billion to grant young access to funding their innovations and are collaborating with the National Assembly to establish legislative framework for it long time sustainability. Minister of health, Prof. Ali Pate, revealed that his ministry is currently providing healthcare to the poorest of the poor through building of 8,000 primary health cares across the country, adding that the president has recently approved the 7500 dialysis centres across the country.
Reps revisit 2024 budget amendment
The House of Representatives on Wednesday revisited the 2024 Appropriation Amendment Bill, which was previously passed on July 23, 2024. The bill had increased the 2024 budget from ₦28.7 trillion to N35 trillion. Following a motion by Rep. Francis Waive (APC Delta), chairman, rules and business committee of the House, the House resolved to rescind its earlier decision on the long title, explanatory memorandum and clauses 13 and 14 of the bill. The Speaker, Rep. Tajudeen Abbas, who presided over the session, dissolved into the committee on supply to consider the clauses and thereafter passed the bill for a third reading.
Reps want more funding for NEMA
The House of Representatives has urged the Federal Government to prioritize and allocate funding for the procurement of additional air ambulances and helicopters with advanced medical facilities for the National Emergency Management Agency (NEMA), to enhance its performance. To achieve this, the green chamber has directed its committees on ppropriation and disaster preparedness to immediately collaborate with the Budget Office of the Federation to ensure adequate funding for NEMA in the 2025 budget. This directive followed a motion of urgent public importance presented during an emergency plenary session by Rep. Ahmed Idris Wase (APC Plateau).
