12:49p.m.
2. The Bill for an Act to provide for the establishment of Environmental Managers Registration Council of Nigeria to provide for Code of Conduct, Professional ethics & Stipulation of Minimum Standards and for other related matters 2016 SB. 88 by Senator Francis Alimikhena.
Senator Alimikhena speaks on the need to regulate and provide professional ethics and minimum standard in the Management of the Environment.
Senator Ibn Na’Allah speaks in favour of the establishment of the Environmental Managers Registration Council of Nigeria.
Senator James Manager supports the Environmental Managers Registration Council Bill as it has no financial implications for its establishment.
Senate President Bukola Saraki puts the question and Senate passes the Environmental Managers Registration Council of Nigeria Bill 2016 SB. 88.
SP Bukola Saraki appreciates all Senators concerned for the smooth passage of the bill for the professional handling of environmental management.
Senate President Bukola Saraki reminds that the Environmental Reg. Council Bill was passed in the 6th and 7th Senate but was not assented to.
The Environmental Managers Registration Council of Nigeria Bill SB. 88 is referred to the Establishments Committee for further legislative action
3. The Bill for an Act to repeal the Foreign Exchange (Monitoring & Misc. Provisions) Act Chapter F34 LGN 2004, establish a Foreign Exchange Market and to provide for the Control, Monitoring & Supervision of transactions conducted in the Foreign Exchange Market and for other related matters 2017 SB. 181 by Senator John Owan Enoh.
Senator John O. Enoh leads the debate for the Foreign Exchange (Repeal and ReEnactment) Bill 2016 SB. 181
Senator Bala Na’Allah speaks in support of the Foreign Exchange (Repeal and ReEnactment) Bill 2016 SB. 181.
14:09p.m.
Senate President Bukola Saraki puts the question and the Foreign Exchange (Repeal and ReEnactment) Bill is referred to the Banking Committee
SP Bukola Saraki appreciates Senator Enoh for the work on the bill. He adds that the bill is important and timely for Forex management.
SP Bukola Saraki says that there is the need for a comprehensive input of stakeholders whenever the Public Hearing for the bill comes up.
Senate President Bukola Saraki further reiterates the commitment of the 8th Senate to the proper management of foreign exchanges.
4. A Bill for an Act to amend the Oil and Gas Export Free Zone Authority Act CAP O5 LFN 2004 and other matters connected therewith 2016 SB 6
The Bill is sponsored by Senator Ibrahim Gobir who leads the debate on the bill.
Senator Kabiru Gaya as well lends his voice to the Bull to amend the Oil and Gas Export Free Zone Authority Act SB. 6
Senate President Bukola Saraki puts the question and the Bill to Amend the Oil and Gas Export Free Zone Authority Act passes second reading.
The Bill is referred to the Trade and Investment Committee for further legislative action.
Senate President Bukola Saraki comments that the Bill has been passed earlier but was not assented to.
Senate moves to the motions of the day.
1. The Abuse of Customs Tariff & Indiscriminate Issuance of Fiscal Policies & Negative Impact on the National Economy: Urgent Need for Reversal.
The Motion is sponsored by Senator Hope Uzodinma and he speaks on the motion and notes with serious concern the abuse of customs tariff.
Senator Uzodinma notes that the ECOWAS Common External Tariff CET and Trade Liberalizaion Scheme has adversely affected economic growth.
Senator Uzodinma also notes that the “Rule of Origin” concept has led to the collapse of the manufacturing sectors in ECOWAS Countries.
Senator Uzodinma is worried that the insincerity of purpose, exploitation, economic sabotage and breach of protocol are also evident.
Senator Uzodinma points out that with these ECOWAS policies, firms manufacture in neighbouring countries but ship products back to Nigeria.
Senate accordingly resolves to urge the FG to review the process of enacting the tariff handbook; to identify all abuses & revenue leakages.
Senate urges the FG to suspend forth with the ECOWAS Trade Liberalization Scheme and ECOWAS Common External Tariffs.
Read also: Breaking: Senate Wants Nigeria to Pull out of ECOWAS
Senate will also approve all Tariff regimes before its implementation.
Senators Jibrin Barau, Bala Na’Allah and Ibrahim Gobir all speak in favour of the motion and the negative effects of these protocols.
Senate President Bukola Saraki comments that “this is a very important matter. Customs accounts for close to 20% of non-oil revenues and in a democratic setting, such revenue line should come to Parliament.
“It is an important motion to which after the public hearing an amendment to the law should be brought before the Senate.
“It will ensure more transparency, less corruption & it will be more stable.”
2. The Urgent Need to Investigate Revenue Generating Agencies over alleged Leakages, Non Remittance and Misuse of Generated Revenue.
Read also: SENATE PROBES NNPC, FIRS, ORS OVER NON-REMITTANCE, REVENUE MISUSE
14:43p.m.
The Motion sponsored by Yayi Adeola notes that S.80(1-4) of the Constitution stipulates all revenue be paid to the Consolidated Revenue Fund
Senator Yayi Adeola also notes that the Fiscal Responsibility Act 2007 was enacted to ensure transparency and accountability.
Senator Yayi Adeola is worried that Corporations and Agencies of Govt. have over the years grossly violated letters of the Constitution.
Senator Yayi Adeola is disturbed that various audit queries against these agencies further indicates possible mismanagement of public funds
Senator Yayi Adeola speaks that in a particular year, Customs generated N178 billion as revenue and spent all N178 billion as expenditure.
Senator Yayi Adeola is worried that despite dwindling oil revenues, agencies are still short changing Government of needed revenues.
Deputy Senate President Ike Ekweremadu supports the motion by Senator Yayi Adeola. He notes it indeed is an important motion.
Senator Olusola Adeyeye as well speaks on the motion. He points out that agencies should look inwards to generate revenue.
Senator Ahmad Lawan commends Senator Yayi Adeola for the motion and says the Finance Committee and Public Accounts Committee should investigate.
Senator Na’Allah says an examination body once generated N3 billion from sales of forms & said it spent N2.9 billion on printing of the forms.
Senate accordingly resolves to constitute a high powered Ad Hoc Committee to investigate the alleged misuse, under remittance/non remittance and other fraudulent practice in IGR collection, accounting, remittance and expenditure by all revenue generating agencies from 2012-2016.
Senate President Bukola Saraki thanks Sen Yayi Adeola for the motion. He adds that independent revenue and non-oil revenue are very important.
SP Bukola Saraki says agencies are not meeting their targets yet there is abuse of surplus & it will help 2017 budget if we block leakages.
Members of the Ad Hoc Committee include Senators Andy Uba, John Enoh, Yusuf Abubakar, Yahaya Abdulahi, Fatimat Rasaki and Yayi Adeola as Chair.
Senate Leader moves that all other matters on the Order Paper be stepped down to the next legislative day. Minority Leader seconds.
Senate President Bukola Saraki puts the question and plenary is adjourned to Wednesday 30th November, 2016.
Gavel bangs!
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