Senate to appraise state of Nigeria's economy on Tuesday, says Saraki

Tuesday, 20 September, 2016 His Excellency the Senate President (Dr.) Bukola Saraki, will dedicate his welcoming address to the Nigerian Senate on the state of the economy.

The Senate President’s address will coincide with the return of the 8th Senate from its annual recess. His Excellency’s speech will announce that the Senate will focus the majority of its legislative days on solutions to tackling the recession and the timely passage of the 2017 federal budget.

“During our annual recess, myself and many of my colleagues in the Senatereturned to our constituencies to witness the severe impact of the economic downturn on local communities,” the Senate President said, “The conditions on ground demand that we put forth our best efforts to get the economy moving and people back to work.”

Since the commencement of the recess, Nigeria has officially fallen into recession and last Friday, Standard and Poors (S&P) down graded Nigeria’s credit rating. Additionally, inflation has caused the price of basic food items to skyrocket severely impacting the availability of food in many households that live below the poverty line.

His Excellency the Senate President believes the current economic crisis demands all elected leaders to put aside partisan interests to promote the well being of the nation. His Excellency noted that “the process of reviving our economy must be an inclusive one. The best minds in government, business, and academia must be brought together to find solutions. We have analyzed the problems extensively, now is the time to act!”