Recession: Sack Adeosun, Udoma; appoint competent brains, Senate tells Buhari

The Senate on Wednesday recommended the sack of Minister of Finance Kemi Adeosun and her counterpart in the Ministry of Budget and National Planning, Udo Udoma.

The senators made the recommendation at plenary on Wednesday when it commenced deliberation on the economic challenges of the country.

This is contained in a statement issued on Wednesday by the Head, Press and Public Relations of the Senate, Charles Akpan.

In its recommendation the upper chamber also rejected calls for the sale of the country’s oil assets as it called for a review of the interest rates.

See full recommendation below:

1. The summary of today’s presentation by the Senators include the release of looted funds to boost the economy.

2. Cabinet reshuffle: Suggested that the Finance and Budget and National Planning Ministers should be replaced with competent brains who can provide solution to the crumbling economy.

3. The Federal Government should renegotiate the price of crude oil with the oil majors. The present contract does not favor the country.

4. The Government should build confidence in our people. A situation in which our people are seen as corrupt cannot help investment.

5. Machinery should be put in place to make corruption impossible rather than trying to stop corruption.

6. Redistribution of income

7. Revamping the agricultural sector.

8. Rejects proposal to sell oil assets.

9. TSA must be revisited. Interest rate by banks must also be revisited.

10. Body language of Mr. President must change. His body language discourages investment.

11. Plea bargaining must be encouraged. People are afraid to plea bargaining as they are afraid they may be persecuted.

12. Sovereign wealth fund should be given legal backing by the National Assembly.

13. The economy must be diversified.

The debate continues on Thursday.

One comment

  1. Senate! Senate!! Senate!!! Glad to know you all just woke up. But will sacking Adeosun and Udoma restore our economy or get us out recession? You all are just waking up to the fact that Nigerians who voted you in and expected you to have our back are hungry and in need of food an job? You are all a major disappointment to your constituents and Nigerians. Leave Kemi Adeosun and Udo Udoma alone and give directives on how you intend working with them and the President to get the country out of recession.

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