On Thursday, November 9, the Senate called upon President Bola Tinubu to dismiss any head of a government agency who disregards the summons from the National Assembly’s committees.
Senate President Godswill Akpabio issued this directive during his remarks at the commencement of a public hearing on the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) at the Senate.
Within the MTEF/FSP, the federal government outlined various parameters, including the price of crude oil at $73.96, an exchange rate of N700/$, oil production at 1.78 million barrels per day, debt service of N8.25 trillion, inflation at 21 percent, and GDP growth at 3.76 percent.
The estimated aggregate expenditure for the 2024 budget, as outlined in the MTEF/FSP, is N26.01 trillion. This comprises statutory transfers of N1.3 trillion, non-debt recurrent expenditure of N10.26 trillion, debt service estimated at N8.25 trillion, and personnel and pension cost of N7.78 trillion.
The Senate Joint Committees on Finance, Appropriations, National Planning and Economic Affairs, as well as Local and Foreign Debt, organized the public hearing. The purpose was to assess the fiscal document and engage with the chief executives of government-owned agencies to enhance the national revenue base.
Akpabio emphasized the significance of the interactive session on the MTEF/FSP, stating that any serious presidential appointee aspiring for President Tinubu’s success must be present. He underscored the gravity of the session by mentioning his absence from the All Progressives Congress (APC) grand rally in Owerri, Imo State, held on the same day.
Akpabio declared that any head of an agency invited to discuss the federal government’s economic blueprint who fails to appear is not suitable to lead such an agency and should be relieved of their position.
Akpabio said: “Any serious appointee or any head of any agency that is interested in the success of President Bola Tinubu’s administration ought to be here.
“Chairman should give me the list of all the heads of agencies that you invited who have failed to show up in this session.
“This is the beginning of their failure in their various offices. Therefore, I am happy to see the chairman of FIRS (Federal Inland Revenue Service), he is here. I have also seen the DG NIMASA (Nigerian Maritime Administration and Safety Agency) and others.
“Any head of agency that sends representation here is not a serious person and therefore the President must take a second look at such a person’s appointment, it is not a threat but the truth.
“I shelved even my appointment to appear in Owerri today for our final rally of my party and all other schedules that I have, to make sure that I appear so that we can strategise on how we can succeed.”
He added that borrowings for Nigeria, cannot be totally avoided but the current trend cannot be sustained, “the very reason why at this session, strategies must be mapped out by the committees and relevant agencies on more revenue generation for government.”
According to him, the 2024-2026 MTEF/FSP is being considered at a time when events at the global scene and locally, are putting massive negative financial and socio-economic pressure on Nigeria.
The Senate president noted: “Internationally, the intractable Russian-Ukraine war and the sudden Israeli-Palestine war are having international economic repercussions that have consequences for our economic outlook.
“In addition, we are in the throes of the immediate effects of needed reform in our foreign exchange system and the equally needed removal of subsidy on petroleum products, coupled with the security challenges confronting the nation, there is no doubt that we must be painstaking and bold in economic projections and policies to stimulate employment and economic growth.
“While we acknowledge that the majority of our people are going through very difficult times in their daily lives at present, we are very hopeful that in the medium term and in the long run, the Nigerian economy is bound to rebound for relief to the majority of our people in pursuant of this goal.”
The Chairman of the Joint Committee, Senator Sani Musa (APC – Niger East), however, adjourned the interactive session to Monday next week to give invited agencies more time to forward the required documents requested from them, to the committee.