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Don’t bleed economy again, LCCI charges NASS

The Lagos Chamber of Commerce and Industry has called on the 7thNational Assembly “not to bleed the economy.”

In a three-page memorandum to the NASS, the chamber, said that the national assembly should not be another platform to bleed the economy.

The document signed by LCCI President, Otunba Femi Deru, stated: “The plea of the business community is that the unwholesome practices which characterised the previous dispensations in the national assembly must stop.

The implications for the economy, the investment climate and the welfare of the citizens are very adverse. The assembly must create a new image for itself.”

According to the statement, LCCI is concerned that the performance of the legislature in the discharge of their core responsibilities since 1999 fell short of expectations, especially with regard to issues of probity, integrity and transparency.

These, the statement added, created a negative perception and image for the legislature.

“Other issues which the assembly should immediately address include the outrageous allowances for its members. It is irregular and breach of due process for the assembly to be fixing its allowances.

Such arrangements are a violation of the basic principles of checks and balances. The Revenue Mobilisation, Allocation and Fiscal Commission have a responsibility for this and should assert itself in this regard.

“The Assembly should put an end to the practice of reconstructing the budget presented by the executive.

The spirit of the constitution was not for the national assembly to take on the responsibility of drawing up new budgets for the country. Its role is to fine tune and ask relevant questions.

We are disturbed that the conflict between the legislature and executive on the budget has become a recurring one since 1999. This needs to be corrected.”


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