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Reps Will Revisit Constitution Amendment To Accommodate Agitations For Restructuring -Dogara
Speaker of the House of House of Representatives, Hon. Yakubu Dogara, has said that the House will revisit voting on the Constitution amendment in order to address agitations for restructuring of Nigeria.
Delivering his welcome address at the resumption of plenary on Tuesday, the Speaker said all questions and issues regarding restructuring can only be address through the legislature.
“Do we have a legislative response to the issues that have been thrown up? Is the National Assembly involved in the debate? Can restructuring take place outside the existing legal order? Indeed all the arguments about restructuring are at the end of the day, legislative issues.”
” It may be necessary in due course for the National Assembly to have a second look at the issues that have been thrown up. The National Assembly as a representative and product of the people cannot act contrary to the wishes and aspirations of its constituents. We need to sift all the ‘noise’ and find out what exactly a majority of our people actually want? This is a responsibility we cannot outsource.”
Going forward, Dogara said, “it is my view that we need to revisit some aspects of the voting on Constitution Alteration. Luckily we still have the legislative window of conferencing with the Senate, where we have differences.”
He argued that it has become necesary to emphasise that Nigeria is a constitutional democracy with a clear legal framework for resolving differences that normally arise among citizens, between citizens and government as well as between the structures and arms of government.
“Make no mistake, as representatives of the people we have a duty to champion the protection and preservation of the rights of our constituents and peoples. We are very conscious and indeed jealous of the fundamental rights provided under our Constitution as well as the Human and Peoples Rights under the African Charter.”
On the NGO regulation Bill being considered by the House, the Speaker stated that public criticism of the content of the Bill is a welcome development and that it is the reason why every Bill is subjected to Public Hearing so that the inputs of stakeholders can be obtained to ensure public buy in.
However, according to him, “when opinions are targeted at disparaging the institution of the legislature then it becomes imperative to interrogate the motives driving such, especially when this emanates from those who should know.”
“Everyone should understand that the principal objective of the NGO Regulation Bill is to inject transparency, accountability and prevent the subversion of national security from both within and without.”
“No one can nor indeed should gag the operations of NGOs in Nigeria, but just as they aspire for this freedom, it must be stated that freedom does not come without responsibility as there is no such thing as freedom to be irresponsible. There are also desperate attempts to instigate religious bodies and cultural Organizations to oppose the Bill by spreading falsehood that they are the target of this bill.”
“For the avoidance of doubt, let me state once again that Churches, Mosques, Esusu, Market Women Associations as well as Local Quasi Financial Institutions are NOT NGOs and thus the bill has nothing to do with their operations.
“The legislative process cannot be short circuited. The National Assembly cannot be intimidated into abandon its sacred legislative duties of providing a platform for Nigerians to agree or disagree on any proposed legislative measure. This openness and transparency is what the NGOs have always canvassed and promoted and they should therefore embrace this opportunity to interrogate the issues with open arms.”
Dogara also urged President Muhammadu Buhari to implement policies necessary to sustain a sound and productive economy which the National Assembly highlighted in the Resolutions sent to the President earlier should be continued with even greater vigour to ensure that “our people enjoy the positive impact of the exit. We shall in this respect make our oversight of the Executive branch more robust, effective and informed.”
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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