Here are six reasons why President Buhari is seeking emergency power from the National Assembly
The action which has been generating reactions from Nigerians is based on recommendations from the economic team headed by vice president, Yemi Osinbajo.
Here are six reasons why President Buhari is seeking emergency power from the National Assembly.
1. To make orders to favour local contractors/suppliers in contract awards by increasing their mobilization fee from 15 - 50 percent. This would enable them move to the site immediately and carry out such contracts.
2. To abridge the process of sale or lease of government assets to generate revenue.
3. To allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
4. Embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of business.
5. The new rule would also make physical entry into the country by foreign investors is to be made easier as Custom Service, Immigration, Department of State Services and all other government agencies at the airport would have their functions streamlined and carried out by a single official.
6. To amend is the Universal Basic Education Act (UBEC Act) from 50 to 10 percent counterpart fund before they can access the fund for basic education.
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