Senate President, Dr. Abubakar Bukola Saraki, yesterday expressed the readiness of the upper legislative chamber to pass the report on Constitution Review committee on or before June 30.
In an address to welcome back his colleagues from a three weeks recess, Saraki has therefore charged the Senate Adhoc Committee on Constitution Review to send in its report to plenary for passage on or before the 30th of June 2016.
“Distinguished colleagues, before we proceeded on the end of year recess, we constituted the Senate Ad-Hoc Committee on Constitutional Review. I would like to urge the committee to consolidate the various items that the 7th Senate had exhaustively considered and passed as key areas to concentrate upon.
“This in my view will ensure that the process is expedited and the cost reduced significantly in line with our fiscal consolidation objectives. In this regards all unnecessary travels and tours should be eliminated”, he stressed.
Saraki also reiterated the commitment of the 8th National Assembly to provide the legislative support and leadership to help develop competitive and dynamic markets supporting job creation, infrastructure development, entrepreneurship and create necessary environment where investment can thrive and the cost of business failure is significantly reduced.
According to him, the signing of “The Enhancing Nigerian Advocacy for Better Business Environment Project”, a National Assembly business and investment roundtable initiative, with developmental organizations, was another vital step we are taking in order to begin the process of transforming our business environment towards remarkable economic growth.
“As I have recently commented, part of our agenda for economic renewal and development must also include relaxing today’s strict Foreign Exchange policy.
“I am happy to note that the Central Bank has moved quickly to review and relax some of these restrictions.
“We must continue to engage our critical institutions and proffer constructive opinions that would help improve performance.
“The CBN has taken the right steps towards a more vibrant forex market in order to keep the confidence of the market and maintain a sustainable market disparity. This will in no small way improve the current challenges small businesses already face as a result of the rapidly declining oil prices and access to foreign exchange”, he explained.
Saraki further stated, “I know many global financial institutions support this move, as well as the introduction of a greater range of low interest loans for SMEs. We must find ways to encourage entrepreneurship, not hold it back”.
“Connected to this, is the broader issue of devaluation. The Central Bank must broadly consider carefully its measures on this matter”, he added.


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