• Buhari administration has no economic plan to end recession – Senate

    Buhari administration has no economic plan to end recession – Senate

    Senate said, yesterday, that President Muhammadu Buhari’s administration has no economic blueprint to pull Nigeria out of recession.

    The country’s upper legislative chamber gave the verdict during reconsideration of Buhari’s Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), yesterday.

    The lawmakers also added that the president’s economic team is in disarray.

    The legislators described the MTEF/FSP as shallow and empty and warned that if the documents are passed, as presented, they would have created room for the executive to present a […]

  • Senate’ll pass laws to end recession, says Saraki

    Senate’ll pass laws to end recession, says Saraki

    According to reports, the Senate is committed to passing laws that will help end the country’s worst economic recession in decades by attracting private investment in roads, rail and the ports.

    The Senate President, Dr. Bukola Saraki, said this in an interview with Bloomberg at his residence in Abuja on Friday.

    “We have 11 bills that we have identified as bills that we need to pass to get the economy up and running. We are looking at how the private sector can […]

  • Releasing funds to contractors will end recession, says Fashola

    Releasing funds to contractors will end recession, says Fashola

    According to reports, the Federal Government has said it is investing massively in road construction, public housing and other infrastructure as part of measures to take the country out of recession.

    It said it had released funds for the payment of debts owed contractors, noting that this had led to the return of most of them to project sites and resulting in the re-engagement of workers who were earlier laid off.

    The Minister of Power, Works and Housing, Babatunde Fashola, who said […]

  • No policy yet to end recession, says Saraki

    No policy yet to end recession, says Saraki

    President of the Senate, Dr. Bukola Saraki, yesterday said that he was yet to see the right policies being put in place to end the recession Nigeria is experiencing.

    He said that the Economic Team of the President would be held accountable for the recession.

    Saraki said the Senate would summon the Presidential Economic Team on resumption next week for full briefing.

    At that session, he vowed to ensure that Nigerians are told the truth about the economy, adding that the federal legislators […]

  • How to end recession – MAN explains

    How to end recession – MAN explains

    The Federal Government must reposition the manufacturing sector to rescue the nation’s distressed economy.

    Reacting to data on inflation by the National Bureau of Statistics (NBS), which put the rate at 17.1 per cent in July, president of the Manufacturers Association of Nigeria (MAN), Frank Jacobs, said the development portends huge risk to the economy.

    Senator Dino Melaye (APC Kogi West), meanwhile, has called on President Muhammadu Buhari to sack three members of his economic team.

    In a statement, yesterday, in Abuja, Melaye […]