Recession: Presidency, N/Assembly must sheath swords

In October 2016, the presidency sought the approval of NASS for external borrowing plan of $29.960 billion to execute key infrastructural projects across the country between 2016 and 2018 Medium Term Expenditure Framework (MTEF). But the request was technically knocked out on the ground of obscurity. However, the loan was later approved after a closed-door […]

In October 2016, the presidency sought the approval of NASS for external borrowing plan of $29.960 billion to execute key infrastructural projects across the country between 2016 and 2018 Medium Term Expenditure Framework (MTEF). But the request was technically knocked out on the ground of obscurity. However, the loan was later approved after a closed-door meeting between the Senate President Bukola Saraki and President Muhammadu Buhari in Aso Rock. Apart from the fact that the meeting resulted in a mutual understanding between the two leaders, one can’t disconnect the outcome of the meeting from the forgery charges the FG dropped against Saraki and other key leaders in the Senate. Likewise, it would be difficult to disconnect the Senate’s rejection of Ibrahim Magu as the substantive Chairman of the EFCC from the critical role Magu played in Saraki’s case when the latter was Kwara state Governor. You would recall that Magu spearheaded high profile cases, including Saraki’s, when he was serving as the head of the Economic Governance Unit (EGU) of the EFCC during the tenure of Nuhu Ribadu as chairman of the agency.   

You would recall that in the last three months in 2016, Saraki and Mr. President had some closed-door meetings in the Villa. Although the real details of the meetings weren’t disclosed to the public, indicators showed that Saraki’s frequent visits to the Villa weren’t unconnected to bridging the gap between the two arms of government. The N7.3trillion 2017 fiscal year budget is based on a Medium Term Economic Recovery and Growth Plan. Now that the Senate is seeking N1.4 trillion, representing 20 per cent, out of the 7.3trillion, for constituency projects, we are hoping that things wouldn’t go sour this time around. Although it appears that the 2016 budget padding palaver has died down, one can’t ignore the fact that funding for constituency projects remains a major contentious issue between the two arms. So, it’s important that the two sheathe their sword for the sake of the poor masses. Inasmuch as the tug of war persists between them, the recession might linger longer than expected. President Buhari should be commended for his dogged fight against corruption. However, it’s important that he should put in place ‘shock absorber’ and other mechanism to be able to withstand all the fiery darts of the enemy within and without the government. It’s time Nigerians rose in unison to ensure that both the Executive and Legislative stop toiling with our common destiny.

Olamide Bakare, Lagos.