Nigeria: Ministerial, CBN Governor's Screening, 2024 Budget Top Agenda As Senate, Reps Resume Plenary Tuesday

The newly confirmed Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso.
26 September 2023

The leadership of both chambers of the National Assembly ended a two-day retreat in Akwa Ibom State on Saturday.

The Senate and the House of Representatives will on Tuesday resume plenary after weeks of vacation.

The upper chamber adjourned for a six-week annual recess on 17 August after confirmating 45 out of the 48 ministerial nominees of President Bola Tinubu.

The Senate President, Godswill Akpabio, also announced the composition of 74 standing committees on that day.

Upon resumption, the Senate will commence its legislative duties by attending to correspondences from Mr Tinubu.

During the vacation, the president wrote the upper house requesting the confirmation of some appointments he made.

The appointments include those of Olayemi Cardoso as the new CBN Governor and four deputy governors.

He also named Jamila Bio Ibrahim as the minister of youth and Ayodele Olawande as the minister of state for youth, respectively.

Mr Tinubu also appointed a new Chairman for the Federal Inland Revenue Service (FIRS) as well as the Board and Management of the Niger Delta Development Commission (NDDC).

The Senate has already fixed Tuesday (today) to screen the new CBN leaders, though they assumed duty last Friday.

Budget

Another issue that may engage the attention of the Senate is the 2024 Appropriation Bill, which President Bola Tinubu may present anytime soon.

If the 10th Senate is to sustain the January to December budget cycle, it is expected that the 2024 budget will be presented to the Senate before the end of October.

Various Ministries, Departments and Agencies (MDAs) of the federal government would then appear before respective Senate committees to give an account of their 2023 budget performances.

Upon the completion of the last budget performances, the respective committees will present their reports to the Senate for consideration before they commence debate on the 2024 budget.

Chairman of the Senate Committee on Finance, Sani Musa, had earlier assured that its committee will facilitate laws and policies that will reduce the debt burden on the country, increase the revenue of MDAs and prescribe sanctions for defaulting ministries.

Mr Musa also pledged that the finance committee will block all revenue leakages in various ministries of the federal government.

Reps resume after eight-week break

Also, members of the House of Representatives will resume plenary on Tuesday after an eight-week holiday.

The lawmakers embarked on the annual recess on 27 July and initially fixed 12 September as a resumption date but extended it by two weeks.

Spokesperson of the House, Akin Rotimi, had on Friday announced that the House will present its legislative agenda upon resumption.

Equally, the committees that conducted their investigative hearings during the recess are expected to present their reports.

Notable among them is the ad hoc committee investigating job racketeering in government agencies.

PREMIUM TIMES had in an investigation exposed the committee for running an extortion ring.

Furthermore, Nigerians expect the House to deliberate on the rising cost of living due to the impact of fuel subsidy removal, general insecurity across the country and the free fall of the Naira against major currencies.

One other major issue is the 2024 budget. The executive is expected to present the Medium Term Expenditure Framework and the Fiscal Strategy Paper (FSP) ahead of the prevention of the Appropriation Bill 2024.

The leadership of both chambers of the National Assembly had ended a retreat in Akwa Ibom State on Saturday.

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