Recession: N’Assembly to engage Buhari on way out

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By; JOSHUA I. EGBODOAbuja.
 Indications Thursday emerged that President Muhammadu Buhari would be invited to brief the National Assembly on current state of the nation’s economy for an engagement on the way out of the current economic recession.
 
Speaker of the House of Representatives, Hon. Yakubu Dogara, after debate on the matter by members that lasted several hours on the floor, explained that a special committee would be constituted to liaise with the Senate on how the President would engaged soon.
Debating on the situation yesterday, members unanimously agreed on the need for urgent action before the nation’s economy plunged further into a state of depression, as they also called on the nation’s economic managers to review some of the government’s policies.
The House urged Buhari to direct the Central Bank of Nigeria (CBN), the Ministry of Finance as well as the National Planning Commission, to review the existing monetary policy with a view to developing sustainable lending rates.
Moving a motion on the urgent need to address the economic downturn in Nigeria, Hon. Mukaila Kazim said a review of the country’s monetary policy will assist real sector and economic growths.
 
According Speaker Yakubu Dogara earlier position, there was need for Buhari to meet the National Assembly for the briefing, lamenting the alarming rate of poverty in the country.
 
“As representatives of the people, we are well acquainted with the alarming state of the citizens’ penury. We will therefore collaborate with the Executive in fine tuning any observed limitations in policy formulation and implementation to ensure speedy delivery of services to our people”, the Speaker noted.

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