The House of Representatives yesterday passed a motion seeking concurrence of the Senate to invite President Muhammadu Buhari for a joint address of National Assembly on the nation’s current economic crisis.
Particularly, the President is expected to explain to the National Assembly, government’s immediate plan to lead Nigeria out of economic recession.
Speaker of the House, Yakubu Dogara during plenary stated that the lower assembly would set-up an ad-hoc committee to liaise with a similar committee of the Senate, so as to advice the executive arm of government on policy measures that could help the country out of recession.
Dogara said members of the committee would be announced next week.
“The committee members will be announced next week, this committee, will liaise with the Senate, so that the National Assembly’s position will be crafted and sent to the executive to see how it will help them to form policies that will lead us out of this situation,” he said.
The House while adopting a motion sponsored by Hon. Mukaila Olayiwola Kazzim, on the urgent need to the nation’s economic recession, noted that there is a need for the President to brief a joint session on the way out of the economic crisis.
The representatives urged President Muhammadu Buhari to direct the Central Bank of Nigeria (CBN), the Federal Ministry of Finance and the National Planning Commission to review the existing monetary policy with a view to developing sustainable lending rates and right environment that will foster real sector growth to enhance economic development.