AMIDST CURRENT CHALLENGES: SENATE PROMISES MEANINGFUL ECONOMIC POLICIES

Senate Reassures Implementing Meaningful Economic Policies Amid Current Challenges

The Nigerian Senate has reassured Nigerians of its commitments to collaborate with the Government in an effort to implement meaningful economic policies that address the current challenges facing the country.

Chairman of the Senate Committee of Finance Senator Sani Musa, gave the assurance during an emergency meeting with the Minister of Finance, Budget and National planning , Governor of the Central Bank of Nigeria, Head of NNPCL, FIRS and the like in Abuja

Senator Sani Musa said the objective was to address current status of the economy, Implore viable solutions to the problems and support what the present administration of President Bola Ahmad Tinubu is doing to improve the economy in a more vibrant structure.

Senator Sani Musa said the main concern of the committee in the oil and Gas sector was financing and revenue generation.

Sen. Sani Musa-Niger East

In his presentation, the Group Executive officer of NNPCL, Mele Kyari informed the committee that based on emerging indicators in the Energy and Gas sector , Nigeria will be net exporter of petroleum by December this year.

    Sen. Mele Kyari-NNPCL, Group Executive     officer  

Meanwhile, Minister of Budget and National Planning, Atiku Bagudu, said the 2024 budget is already being implemented and that there are ongoing negotiations with labor leaders on minimum wage to ensure no further disruptions to the economy.

   Sen. Atiku Bagudu-Minister of Budget and     National Planning.

In his own submission, the CBN Governor, represented by Deputy Governor (Economic Policy) Muhammad Sani Abdullahi, said the triple challenges of rising inflation, foreign exchange rate fluctuations, and food inflation would take a downward trend soon, as indicators to that effect are already emerging.