Senator Anyim Pius Anyim, a former Secretary to the Government of the Federation, has promised to solve Nigeria’s debt and economic challenges if elected president in 2023.

Anyim, also a former Senate President, said he has all it takes to reposition the country’s economy and create massive employment for the teeming youths.

The presidential aspirant made this known in a statement signed and made available to journalists by his media aide, Daniel Okorie, in Abakaliki, the Ebonyi State capital.

He revealed that he will engage the services of economic experts, as well as the world-class cabinet members to revive the country’s economy to become self-sufficient and debt-free.

The statement reads in part: “For me, the drivers of the economy will now be on industrialisation and manufacturing, talents and innovation, science and technology.

“This certainly is going to be the key driver of the economy of the second half of the 21st century and I will develop this, build on this and prepare Nigeria to fit into the fourth industrial revolution.

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“That obviously will expand the economy; that will make the economy more competitive and more dynamic. I will also focus on the enablers of development. the factors, the circumstances and the situations that promote prosperity and development.”

Anyim further noted that while he understood the country’s debt burden among other economic challenges being faced by Nigeria, he was prepared for the job and would take no time in turning the nation’s economic fortune around.

“I understand that last year, the nation earned about N5.5 trillion as revenue and out of the N5.5t trillion, N4.2 trillion went into debt servicing and debt repayment, leaving just N1.3 trillion to run the country. I also want to believe as a matter of rule that you are not allowed to borrow more than 40 per cent of your GDP and our borrowing rate now is at 36.9 per cent.

“I think that will make it more frightening for anybody coming in. But I can tell you that even at that, that does not scare me. The challenges are temporary and the challenges are that of leadership. If I am to focus on the economy as I did say before, I will focus the economy on the contemporary world direction- manufacturing, talent and innovation, science and technology.” it stated.

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Senate President, Ahmad Lawan has justified the need for the Federal Government to borrow funds, saying it is necessary for infrastructural development in the country.

He stated this on Tuesday at the Senate Chamber upon the resumption of the lawmakers from recess.

Lawan stated that funding the 2022 budget is based on significant borrowing, adding that the nation is caught between the devil and the deep blue sea.

The Senate President equally emphasised the need to construct and provide infrastructure in all parts of the country because infrastructure is needed for development.

While accepting the Federal Government cannot continue to borrow endlessly, he warned that it is imperative that we need to improve on the revenue to Gross Domestic Product (GDP) ratio.

“Distinguished Colleagues, funding of the 2022 Budget is predicated on significant borrowing. Our country is caught between the devil and the deep blue sea,” he said.

“Distinguished Colleagues, as we all know the oversight of the implementation of the Budget is a critical function of the National Assembly.

“We must therefore strategize on effective oversight of the implementation of the 2022 Budget. This is going to be the last budget that would be fully implemented for 12 months in the life of the Ninth Senate. We, therefore, need to supervise very closely.

“At about 8% Revenue to GDP ratio, our country is basically at 50% of what is required of the revenue to GDP of 15% for it to support any significant economic development.”

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See the Senate President’s full speech below:

SPEECH BY THE PRESIDENT OF THE SENATE, DISTINGUISHED SENATOR AHMAD IBRAHIM LAWAN, PhD, CON, AT SENATE RESUMPTION, SENATE CHAMBER, NATIONAL ASSEMBLY COMPLEX, THREE ARMS ZONE, ASO ROCK, ABUJA, JANUARY 18TH , 2022.

Protocol,

My Distinguished Colleagues, I welcome you back from our Christmas and New Year recess. I believe that the recess gave us the opportunity to celebrate the festivities with our families and loved ones.

My Distinguished Colleagues, before we went on the recess, we considered and passed the Appropriation Bill on 22nd of December, 2021. That was the third consecutive time to pass the annual appropriation bill before end of year.

The Bill was signed into law on 31st of December, 2021 by Mr President, to give the desired effect of starting the implementation of the Budget from January 2022.

Distinguished Colleagues, I once again commend the Senate, indeed the National Assembly and the Executive arm of Government for working tirelessly to maintain the instituted January to December budget cycle.

Distinguished Colleagues, as we all know the oversight of the implementation of the Budget is a critical function of the National Assembly. We must therefore strategize on effective oversight of the implementation of the 2022 Budget. This is going to be the last budget that would be fully implemented for 12 months in the life of the Ninth Senate. We, therefore, need to supervise very closely.

Distinguished Colleagues, funding of the 2022 Budget is predicated on significant borrowing. Our country is caught between the devil and the deep blue sea. We have to construct and provide infrastructure, in all parts of our country because infrastructure is needed for our nation to develop. However, we do not generate enough revenues to fund the provision of such infrastructure. Until more revenues are generated, the country has to borrow and also resort to other sources of funding our infrastructural development. But we cannot continue to borrow endlessly. It is imperative that we need to improve on the revenue to Gross Domestic Product (GDP) ratio. At about 8% Revenue to GDP ratio, our country is basically at 50% of what is required of the revenue to GDP of 15% for it to support any significant economic development.

Distinguished Colleagues, the Senate will develop a strategy of engagement with revenue-generating agencies on how to make them achieve their targets and generate more revenues in 2022. The Senate will ensure that we boost their revenue-generating drive with a view to reducing borrowing for the development of our much-needed infrastructure. This is a major challenge for our development and we need to treat as such.

Distinguished Colleagues, the Petroleum Industry Act(PIA) 2021 was enacted with a view to providing better investments climate for better performance by the Oil and Gas industry. The Senate therefore, need to seriously supervise the implementation of the PIA 2021. We must ensure that our country starts to benefit from the passage of the PIA.

Distinguished Colleagues, the Senate postponed discussions on the consideration of the response of Mr President on the Electoral Act 2010 Amendment Bill to enable us to consult with our counterparts in the House of Representatives and also consult with our Constituents. Like we all know, the Senate and indeed the National Assembly worked so hard on the Bill. Having consulted, the Senate will expeditiously look into the issue.

Distinguished Colleagues, the Security situation in our country is still dire. We must remain focused and determined to work with the Executive arm of government, and also continue to support our armed forces and security agencies. We must continue to prioritize the Security and welfare of our citizens as enshrined in your constitution nor despair.

I urge us not to be discouraged by the situation. We should make this year as the year for the final securing of our nation from the numerous security challenges.

Distinguished Colleagues, the review of the 1999 Constitution is a major plank of our Legislature Agenda. Our Committee on Review of the 1999 Constitution has done so much work so far. Working with their counter parts in the House of Representatives the report of the Committee will be presented to the Senate for consideration soon. The Senate will consider the report and the National Assembly will communicate to the State Houses of Assembly within the first quarter of this year.

Distinguished Colleagues, Political activities leading to 2023 general elections have already started. This Senate should continue to provide the support that Independent National Electoral Commission (INEC) needs for successful elections across the country.

Distinguished Colleagues, most of our colleagues will be running for various political offices in 2023. I wish all our distinguished colleagues easy victories and success at the polls.

In conclusion, I thank all our distinguished colleagues for remaining focused and firm in our determination to deliver service to our country.

Thank you for Listening.

May God bless the Federal of Nigeria. Amen.

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The House of Representatives is set to amend the provision of Direct Primaries in the Electoral Act Amendment Bill.

Speaker of the House of Representatives, Femi Gbajabiamila disclosed this on Tuesday in his welcome remarks to members of the House.

The speaker said the version of the bill circulating is not the same as the version sent to President Muhammadu Buhari. He, however, assigned a committee to investigate this.

According to him, the argument that political parties do not have a proper register of all their members is an indictment of the parties themselves.

He wondered how they are able to conduct elections through direct or indirect methods without a comprehensive register.

The speaker also ruled out hopes of overriding President Buhari on the issue.

The lawmakers resumed plenary on Tuesday after their Christmas and New Year break after proceeding on holiday in December.

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Before the holiday, they had deliberated on and passed some important bills including the controversial Electoral Act Amendment Bill.

Gbajabiamila in a speech to the lawmakers in December to mark the adjournment of the House for the Christmas and New Year break said the House will address the matter in January 2022.

Gbajabiamila explained that the time was short to address the sensitive issue at hand in haste because members were set to proceed on break, and they must pass other important bills such as the 2022 Appropriation Bill and the Finance Bill before doing so.

President Buhari had earlier withheld his assent to the bill citing the cost of conducting direct primary elections, security challenges, and possible manipulation of electoral processes by political actors as reasons.

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