The proposed bill by President Muhammadu Buhari to the senate for emergency powers might have hit a brick wall as the lawmakers have opposed the plan.
President Muhammadu Buhari
The proposed bill by President Muhammadu Buhari to secure emergency powers to address the nation’s economic crisis has hit a brick wall as senators yesterday kicked against it, saying it would turn him into a tyrant.
The proposed bill gives the president the power to make economic decisions without consulting the senate. The bill entitled, “Emergency Economy Stabilisation Bill 2016”, will be sent to the National Assembly by the president upon resumption from its summer vacation and after the Eid el Kabir holidays.
According to
ThisDay, several senators have kicked against the bill. The senators, who did not want to be named, said some of the provisions in the bill were unnecessary, describing it as nothing more than a subtle way of avoiding counterpart funding by the Buhari administration.
The senators revealed further that if the bill is passed as proposed, the president will gradually transform himself into a dictator and draw Nigeria back to the path of military rule, which it exited 17 years ago.
The senators thererfore vowed to stop the bill from making any progress. ThisDay revealed that the Buhari would seek emergency powers from the National Assembly to push his planned stimulus for the economy.
The objectives of the bill will include shoring up the value of the naira, job creation, boosting foreign exchange reserves, reviving the manufacturing sector, and improving power supply.
The quest for emergency powers by the executive is the initiative of the economic team headed by Vice-President Yemi Osinbajo, which has been saddled with the responsibility of reviewing various policies in the country and their effects on the economy.