“The fundamental thing needed to diversify the economy is infrastructure we are attacking the infrastructure deficits,” said Mrs Kemi Adeosun.
“Our focus towards economic diversification is to bridge the infrastructural gap.
“The previous administration was borrowing to pay salaries. We were taking Panadol when we had cancer.
“I disagree that we don’t have an economic management team.
“We are not immune to the sufferings of Nigerians; it affects us all and we are doing all we can to assuage it.
“This economic team stands for transparency and telling the truth even if the truth is not fine we will continue telling the truth.”
Senator Tayo Alasoadura asks about Waivers and hopes for a smooth process for the 2017 Budget Passage.
Senator Sam Egwu puts his questions.
“I want to react to your statement on procurement that you plan to push for an executive bill to to promote the consumption of made in Nigeria goods.”
He informs Mrs Adeosun that the 8th Senate has passed an amendment to that effect.
Senator Dino Melaye now takes the floor. He decries the current market rates of “Jero (Millet), Shinkafa (Rice) and Crude”.
Sen. Dino Melaye reminds the Minister of the Presidential visit to China & asks about efforts on the Mambilla Hydropower &alternative energy.
“The Budget 2016 is law and its non-implementation, under-implementation or over-implementation is a crime”.
…projects but on two occasions she has quoted constituency project at 60 billion “I want to know if there is an amendment.
Senator Ben Murray Bruce now takes the floor. He speaks on the Ajaokuta Steel Mill and the effects of a lack of a Nat’l Transport Policy.
Senator Abdullahi Gumel now takes the floor. He commends the Minister for Finance Mrs Adeosun.
Senator Obinna Ogba who chairs the Youth & Sports Committee asks the Finance Minister about funding for Nigeria’s participation in Rio Olympics.
Senator Yusuf Abubakar Yusuf speaks about the importation and consumption of foreign goods.
Senate leader Ali Ndume now moves that the Senate suspends its relevant rules to extend its sitting beyond 2pm. The Minority Leader seconds.
The Minister for Finance now continues responding to questions from Distinguished Senators.
“We are blocking all loopholes,” said Minister for Finance, Mrs Adeosun.
“One of the areas we faced inflation was indeed food price what the government has done is to look at the causes.
“I spoke with the Director of Finance of the Ministry of Youths & Sports and funds for Rio Olympic are being released.”
Senate President Bukola Saraki says the Minister for Finance has made commitments and they will hold her to her words.
The Minister for Finance Mrs Adeosun now bows before the Senate and takes her leave from the chambers.
Senate Leader now moves the motion that Senate returns to Plenary to report progress. The Minority Leader seconds.
The Mace is returned to its position as Senate President Bukola Saraki reports progress from the Committee of the Whole.
“Our project is getting Nigerians back to work” – Finance Minister briefs the senate.
“I believe that the 60 billion came from the question of Sen. Bassey but it still remains; what is in the budget stands.
“The production of fertilizers has not been paid, so there was no production of fertilizer in 2015 which is the reason for increase.
“We need a rail connected to Ajaokuta there is no aim producing steel when there is no transport infrastructure in place.
“In food price we expect them to start reducing the price in food crops.
“We are definitely looking at getting private funding to help in the building of our roads.
“We need to engage in production of home made goods to enable our economy and productivity level grow”.