Senator Akpan Bassey seconded the motion adding that the allegations violates the financial provisions and should be properly investigated
The Senate mandated its committee on Banking, Insurance & other Financial Institutions to carry out a Holistic investigation & report back.
Sen. President Bukola Saraki thanks Dino Melaye for the motion describing it as a weighty allegation which will be investigated thoroughly.
The senate leader Ali Ndume now moves for the consideration of Report of the Ad-hoc Committee on the state of the Economy.
Sen. James Manager seconds the motion and Senator Yahaya Abdullahi reads the report.
Senator Ali Ndume, Hope Uzodinma and Tayo Alasoadura , commended the committee for a detailed report.
Senate President Bukola Saraki puts the question for adoption of recommendations of Committee on the state of the economy.
The senate rejected prayer 3 of the recommendations which sought for the sale of National Assets to shore up Foreign Reserve.
“The senate oppose sale of National Assets to shore up Foreign Reserves” – Senate Leader, Ali Ndume
Dep. Sen. President in an additional prayer called for the senate to urge the FG to renegotiate terms of cost of production & profit sharing.
“The Federal Government should Re negotiate terms of cost of production and profit sharing” – Deputy Senate President, Ike Ekweremadu.
Deliberations to harmonize the resolutions on the state of the economy continues…
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Senate President Bukola Saraki commended the committee for a job well done and thanked his colleagues for their contributions.
“Democracy is in action we will monitor the recommendations, we will do oversight & pass necessary bills on our own part,” he said.
“We have done our own parts in setting the agenda & our commitment to work with the executive on the 20 points agenda,” he added.
Chief Whip raises a Point of Order, cautioning the press not to interpret opinions of individual lawmakers as the decision of Senate
Senate now moves to the third motion of the day a motion sponsored by Senator Danjumah La’ah:
“Earth Tremor and the Preparedness of Nigeria to Deal with its Intending Consequences.”
Sen. La’ah notes the Earth Tremor that occurred in Kogi and its environ in Jabs LGA of Kaduna State on the 11th -12th September 2016.
He said that the reports of Earth Tremor in various parts of the country is a sign that Nigeria is not immune to earthquake.
He expressed concern that Nigeria is not adept at managing crisis and still has a lot to learn as far as managing disasters are concerned.
Senate President Bukola Saraki puts the question for the prayers to be adopted.
The Senate mandated its Committee on Environment & Solid minerals to undertake tour of the affected communities & report back to the senate.
The fourth motion is a motion on the need to ascertain the Degree of Local Content in the Nigerian Oil & Gas industry by Sen. Gershom Bassey
He said that the Nigerian Oil & Gas Industry Content development Act was enacted to promote indigenous participation in control of Oil & Gas
He expressed concern that despite benefits accrued to indigenous oil and gas firms there is still low involvement of indigenous players.
Dep. Sen. President thanked the sponsor of the motion adding that Senate is not just here to make laws but also to ensure implementation.
The fifth motion is a motion on the Looming Crises in the Nigerian Aviation Industry by Senator Samuel Anyanwu.
He said that the aviation industry has been gasping for survival in recent years and is worsened by the economic recession.
He notes that Aviation sector is strategic to the economy, regretting that this challenges is affecting foreign investment and tourism.
Senate President commended the sponsor and asked him to further examine the additional prayers & inform the senate on next step to take.
Consideration of bills for concurrence is stood down for more in depth review at the committee level before further consideration.
Senate Leader moves for other content of the order paper to be stood down to another legislative day and the Minority Leader seconds.
Senate President Bukola Saraki puts the question and Senate adjourns plenary to Thursday 29th September 2016.
Gavel bands!
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