Natasha said the investigation should uncover the circumstances that led to the re-concession of NIOMCO, as the initial concession agreement was validly terminated by the Yar’adua administration. The Senate has set up an Ad-hoc Committee to investigate the affairs of Ajaokuta Steel Company Limited and the National Iron Ore Mining Company (NIOMCO) in Kogi State between 2008 to date and to find out the circumstances that led to the re- concession of NIOMCO. This is...
Senator Sani Musa noted that a fresh implementation of the policy outside the N2.7 trillion should be halted for now. The Senate through its committee on Finance, dumped the stay-of-action position proposed to it by the Federal Inland Revenue Service (FIRS) on the N2.7 trillion Tax Credit Fund required for specific road construction by the Federal Ministry of Works. In an interaction with the Committee the previous week, Zacch Adedeji, the Chairman of FIRS, blasted...
The commission will be in charge of acknowledging and overseeing funds from the Federation Account for the repair and maintenance of houses, roads, and other infrastructure damages suffered by the region as a result of the civil war’s aftermath. The Senate has passed a Bill seeking the establishment of the South East Development Commission. This decision was sequel to the consideration of the bill’s clauses at its Committee of the Whole, chaired by the Senate...
Senator Abiru said that all of the CBN MPC nominees had received clearance from security agencies and that the panel had not received any petitions objecting to their nominations. The Senate, on Thursday, confirmed the nominations of 12 members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) following the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions. CBN governor, Olayemi Cardoso, was confirmed as MPC chairman. Those confirmed as members are: Muhammad...
The majority of Senators heavily opposed the bill, arguing that it would stop the career progression of junior staff and halt the employment of young Nigerians. The Senate has stepped down a controversial bill seeking to extend the retirement age for civil servants in Parliament and across the 36 State Houses of Assembly. The bill, if scaled through, would extend the service years of over 200 workers who are due to retire between 2024 and...
The Senate urged the federal government to permit the importation of Cement as a temporary fix. The Senate has decided to investigate the country’s rising prices for cement and other building supplies. To determine whether monopolistic or market manipulation tactics are to blame for the price increase, the Red Chamber instructed its Committee on Industries, led by Senator Francis Fadahunsi (APC, Osun East), to look into the operations of the nation’s cement manufacturing industries. Additionally,...
A bill for the establishment of the North Central Development Commission also scaled second reading in the Senate. The Senate has passed for second reading, a bill seeking to establish the South West Development Commission, SWDC. This was a sequel to the consideration of the document titled, “A bill for an act to Establish the South West Development Commission charged with the responsibility among others to receive and manage funds from allocation of the Federation...
President Bola Tinubu had last week forwarded to the Senate for confirmation, the names of nominees to the MPC of the Central Bank of Nigeria (CBN). The Senate on Wednesday, subjected nominees for membership to the Monetary Policy Committee, MPC, of the Central Bank of Nigeria (CBN) to thorough drilling. Before the MPC’s meeting slated for next week Monday, the Senate, via its Committee on Banking, Insurance, and Other Financial Institutions, grilled six of the...
The Senate called on the federal government to concentrate on the production and distribution of electricity rather than raising electricity rates. The Senate has demanded that the federal government halt any plans to raise electricity rates in the nation, arguing that the government’s attempt to raise rates and remove subsidies comes at an inappropriate time. To prevent a repeat of the fuel subsidy scandal, it also decided to investigate the N2 trillion electricity tariff requested...
The Senate also confirmed Dr Kelechi Ohiri as the Director-General, National Health Insurance Authority (NHIA). The Senate has confirmed 17 persons for appointment as commissioners of the National Population Commission (NPC) out of the 19 nominated by President Bola Tinubu. These confirmations sequel the adoption of the screening report of the Committee on National Identity Card and Population at the Committee of the Whole during Wednesday’s plenary. Presenting the report, the Chairman of the Committee,...
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