Ekweremadu Asks Buhari To Reshuffle His Cabinet

Channels Television  
Updated September 21, 2016

SarakiThe Deputy Senate President, Ike Ekweremadu, has asked President Muhammadu Buhari to reshuffle his cabinet.

Mr Ekeremadu is suggesting the redeployment of the Minister of Finance, Kemi Adeosun and the Minister of Budget and National Planning, Senator Udo Udoma, from their present ministries.

The Senator made the call as the Senate begins debate on the state of the economy.

Senator Ekweremadu claimed that he was not impressed with the performance of the Ministers of Finance and Budget and National Planning.

He believes they will perform better in other ministries.

Ban Of Food Items Importation

However, some other lawmakers are also calling for caution as regards the recommendation made by the Senate president on the sale of government assets.

Lawmakers are also asking the government to increase spending and look for how to expand the country’s sources of foreign exchange.

Few other lawmakers have also asked the government to ban the importation of food items such as milk, sugar, palm oil, frozen fish and clothing.

The Senate will for two days hold debate on the state of the economy and make recommendations to the executive on measures to solve the economic challenges confronting the country.

Senator Bukola Saraki is hopeful that sale of assets would calm investors and stabilise the economy

Nigeria’s economy slipped into recession few weeks ago, with a report of the National Bureau of Statistics showing that the Nation’s Gross domestic Product contracted by 2.06% in the second quarter of 2016.

According to the report, the decline has caused the Naira to get weaker while lower oil prices dragged the oil sector down.

The output shrunk by 0.36 in the first quarter.

During the quarter, nominal GDP was 2.73% higher at 23.48 million Naira at basic prices.

This growth was lower than the rate recorded in the second quarter of 2015 by 2.44% points.

The situation, has become glaring to Nigerians, with the cost of food items rising, has continued to draw attention from different sectors of the economy.

The Senate President had in a message to Nigerians during the Eid-el-Kabir celebration stressed the need for Nigerians to pray for peace and accelerated recovery of the nation’s economic.

He asked Nigerians to remain steadfast and committed to the cause of one, united and developed country.

He observed that despite the current economic challenges, the country and its people had all that was required to come out better and stronger.

On Monday, however, he suggested that the executive should raise capital from the sale of government assets and other sources to shore up reserves.

Senator Saraki made this recommendation as the Senate resumed plenary after a seven weeks’ recess.

Addressing lawmakers, Senator Saraki said that the sale of assets would calm investors, discourage currency speculation and stabilise the economy.

He recommended part sale of the NLNG Holdings, reduction of government share in upstream oil joint venture operations and sale of government stake in financial institutions.