Members of the Nigerian Senate have called on the executive to re-strategise on its war against corruption.
The lawmakers made the call on Thursday as the Senate continued the debate on the state of the economy at the National Assembly in Abuja, Nigeria’s capital.
They argued that some measures taken by the Federal Government so far were driving away investors.
While Senator Ben Bruce observed that the government’s approach to fighting corruption was doing the country more harm than good, Senator Olusola Adeyeye called for a total restructuring of the economy.
One after the other, they suggested solutions which they said would get Nigeria out of recession and put it on a course of economic recovery and growth.
Sale Of Government Assets
The lawmakers were also divided on the suggestion to sell the country’s assets to generate revenue.
Senators Ovie Omo-Agege, Abdulahi Adamu and Adeola Olamilekan, opposed the recommendation of the sale of government assets.
They also questioned the reluctance of the Federal Government to make use of funds in several intervention agencies to stimulate the economy.
The debate follows the called on the executive by the Senate President, Dr. Bukola Saraki, to raise capital from the sale of government assets and other sources to shore up reserves.
Senator Saraki had 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.
He also proposed several other measures to address Nigeria’s economic challenges, including the privatisation of major and regional airports and refineries.