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The Senate on Tuesday asked the Federal Government to sell some of the country’s assets in order to quell some of the effects of the economic recession.
Senate President, Bukola Saraki said this in his welcome address to senators at the resumption of plenary.
He said, “The Executive must raise capital from asset sales and other sources to shore up foreign reserves. This will calm investors, discourage currency speculation and stabilise the economy.
“The measures should include part sale of NLNG Holdings; reduction of government share in upstream oil joint venture operation; government stake in financial institutions, e.g, African Finance Cooperation; and the privatisation and concessions of major/regional airports and refineries.”
Meanwhile, since the 8th Senate was inaugurated June 9, 2015, plenary always start after 11am because of longer time spent at leadership meetings.
But today, the leadership meeting began in the Senate President’s temporary office at 9.30am, just as by 9.50, the leaders filed out into the chambers and by 9.57 am, Senate President Bukola Saraki was seated.
Also for the first time in the 15-month life of the Eighth Senate, All Progressives Congress (APC) senators held what can be called a successful unity caucus meeting in which members forgot their differences and discussed issues affecting Nigeria, the federal legislature and the fortune of their party.
It was gathered that surprisingly, at the meeting, was the convivial atmosphere as Senators discussed freely and after the meeting exchanged jokes and engaged in banters and back-slapping.
The meeting reported to have lasted for two hours was held in the private residence of the Senate President, Dr. Abubakar Bukola Saraki and was attended by 50 senators from the two hitherto existing groups in the party.
The meeting was held yesterday preparatory to the resumption of the Red Chamber of the federal legislature today and took place about the same time the People’s Democratic Party (PDP) senators also had their own caucus meeting at another venue under the leadership of Deputy Senate President, Ike Ekweremadu.
At the meeting, they agreed that they should persuade their colleagues to always endeavour to be prompt at plenary so that sitting would always commence early and that the Senate should engage with the executive on the implementation of constituency projects as a way of spreading federal presence to the nooks and crannies of the country.
During the meeting, the APC senators discussed the proposed debate on the economic recession which will be spear-headed by the Senate President during the Tuesday plenary and agreed that members should take leadership in the efforts to find solution to the economic crisis.
The Senators also praised the efforts of the Senate president in promoting unity among members and his decision to facilitate debates towards finding tangible solutions to the economic recession in the country.
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