President of the Senate, Dr. Bukola Saraki, has stated that the time for identifying the cause of the economic recession and those responsible was over and that all political leaders should start working together to find a solution.
Saraki at an interactive press briefing with media correspondents in Kwara State, after observing the Eid-el-Kabir prayers in Ilorin on Monday said the Senate on resumption will respond to the economic crisis with a number of measures which include getting managers of the economy to give account to the people.
According to a statement by Yusuph Olaniyonu, Saraki’s Special Adviser on Media and publicity, he noted that the federal legislature would also make tough recommendations to the President on needed changes, formulating necessary legislative framework for economic recovery and wide consultations across the private sector.
He reiterated his call for a broader and bolder economic plan with input from both legislative and executive arms of government, the private sector and professional groups.
All the groups, he said, must work together to put in place interventions that will create more jobs, strengthen the Naira, bring more investment into the country, and diversify the economy.
Saraki, who served as a Special Assistant to the President on Budget Matters during the Obasanjo administration and Chairman of Governors Forum said the economy will be the focus of the Senate when it resumes plenary and throughout its remaining session.
The Senate President said it was equally important to begin to interrogate what happened to the measures aimed at cushioning the effect of the recession built into the 2016 budget and why they have not been implemented.
“We need to know why the promises of external borrowing has not materialised, why devaluation has not helped to strengthen the Naira, why inflow of foreign currency has continued to dry up and interest rate is still very high. Doing this will help us to understand where we are, so that we can determine where exactly we want to go from here”, he stated.
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