Wednesday, 21 September 2016

RECESSION: SENATE APPROVES SALE OF NLNG, OTHERS

The Senate has technically okayed the sale of federal assets as part of measures to get out of the current economic recession.
Addressing plenary yesterday, the President of the Senate, Dr Bukola Saraki, observed that Nigerians were tired of excuses under whatever guise, hence the legislature and the executive arm of government must work together in order to arrest the current economic recession in the country.
Accordingly, Saraki, identified nine “needful” measures to be taken by the President Muhammadu Buhari-led federal government in order to demonstrate that it is ready to turn the nation’s economy around for the better.
The number one Senator proffered that the executive must immediately put in place, leadership-level engagement platform with the private sector; the executive must raise capital from asset sales and other sources to shore up foreign reserves, assuring that the step will calm investors, discourage currency speculation and stabilise the economy.
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