The past week is unarguably one of the busiest and critical times in the life of the 8th Senate. It was a week the law making body significantly upped its game in its drive to achieve stated objectives contained in its Legislative Agenda, that is, to enact laws that would spur business growth, increase access to finance for Small and Medium Enterprises (SMEs), attract investors and private sector funding for infrastructure and to reflate the nation’s ailing economy.

The law makers engaged operators, regulators, experts, civil society and other stakeholders throughout the week to take input some of the11 priority bills targeted at making the country exit recession as well as revamp and get the economy booming once again. The bills being discussed at the several public hearings which held within the week were also aimed at meeting the desire of the Senate to put money in the pockets of Nigerians, empower the youths through job creation, block  leakages, fight corruption, and improve transparency and accountability in all spheres of national life. Besides, the sessions were aimed at making the business environment in the country attractive and competitive.

It was a week that witnessed robust, open, transparent and sincere exchange of ideas in molding legislation geared towards economic revival in terms of infrastructure renewal, generation of fund and strengthen revenue generating agencies to be more alive and effective in driving and sustaining the economic recovery plan of the Federal Government. There were disagreements, objections, new light shed on old issues, new insights, that would allow for logical and unbiased recommendations by the relevant committees at the end of the day.

It was also a week that saw lawmakers, ministers, regulators, operators, experts, labour unions and industry players to congregate in the various hearing rooms of the Senate to brainstorm on and scrutinize pieces of legislation meant to give impetus to economic recovery efforts, realign institutions and agencies of government to be more effective and efficient in carrying out their statutory mandates and profitably too.

It was a week dedicated by the 8th  Senate to cast a solid legal, institutional and regulatory frameworks that would form the bedrock on which critical infrastructure can be built and renewed, youths empowered and access   to credit for all categories of Nigerians guaranteed, block leakages, ensure more statutory revenue gets into government coffers, simplify and modernize processes and systems, and tackle the long drawn gridlock in the petroleum industry through a revised first tranche of the Petroleum Industry Governance Bill (PIGB).  The public hearings, it must be noted, constitute the final processes of tidying up the priority Bills before final passage.

A Bill  for  an Act to Repeal the Federal Roads Maintenance Agency (Establishment.  Etc.) Act 2002 (as amended) and to establish the Federal Roads Authority and to promote a safe and efficient management of the Federal Roads Network is one of the proposed legal instruments that was subjected to public scrutiny at the Senate during the week. Others are: A Bill for an Act to provide for the facilitation and co-ordination of Public Infrastructure Development to ensure that infrastructure development in the country is given priority in planning, approval and implementation; To ensure that the development goals of the country are promoted through infrastructure development; to broaden the scope of funding for infrastructural development and  to improve  the  management of such Infrastructure during all life-cycle phases, including planning, approval, implementation and operations; and the need  for  the establishment of  toll gates  on Federal  Highways.

Before declaring open the session organized by the Senator Kabiru Gaya-led Senate Committee on Works, Senate President, Dr. Abubakar   Bukola Saraki underscored the importance of the bills to the present administration’s effort to attract substantial investment to develop infrastructure and to grow the economy. He stated that the objective of the National Integrated Infrastructure Coordinating Commission Bill is reflective of global best practices. It is interesting to note that the executive represented by the former Governor of Lagos State and Minister for Works, Power and Housing, Babatude Raji Fashola did not oppose the proposed repeal of the FERMA Act. He only advised that the name of FERMA be retained as an already developed brand irrespective of the amendments to be effected.

Besides, during the public hearing on the Customs and Excise Management Act (Repeal and Re-enactment) Bill 2016, Saraki stated that  the 8th Senate has remained unflinchingly committed to using substantial legislative time and energy towards economic reforms with major focus on reducing the cost of doing business in the country as well as boosting enterprise development.

Sanni Onogu is Chief Press Secretary to the Senate President.