The Leader of the Senate, Senator Michael Opeyemi Bamidele (APC Ekiti Central), has tasked lawmakers to come up with creative legislative frameworks and provide robust oversight support that could guarantee the appreciation and stability of the naira.
Bamidele, also recommended regular between federal lawmakers and all members of the Federal Executive Council as one of the measures that should be adopted to integrate the eight-point agenda of President Bola Tinubu with the programmes of the 10th National Assembly.
He canvassed these positions, on Friday in Ekot Ikpene, Akwa Ibom state, in his presentation at the ongoing retreat for all senators organised by the National Institute for Legislative and Democratic Studies (NILDS).
Speaking at the retreat with the theme: “Fiscal Policy and Tax Reforms in Nigeria,” Senator Bamidele sought for appropriate legislative frameworks and oversight support for the implementation of responsive fiscal and monetary policy with a view to rescuing the economy from regression.
He explained that both chambers of the National Assembly “are under obligations to stem the recurring decimal of Naira devaluation and promote economic stability.
This, he said, entailed appropriate legislative framework and oversight support for the implementation of responsive fiscal and monetary policy measures.
“Henceforth, developing appropriate legislative frameworks is central to ensuring macroeconomic
stability with focus on managing inflation, addressing high interest rates as well as foreign exchange deficit,” he said.
At the retreat were the President of the Senate, Senator Godswill Akpabio; Speaker, House of Representatives, Hon. Tajudeen Abbas; Deputy President of the Senate, Senator Barau Jibrin; Minister of Finance and Coordinating Minister of Economy, Mr. Wale Edun and other members of the Federal Executive Council.
