Proceedings of the Nigerian Senate of Thursday, 27th February, 2020

Welcome to a new Legislative Day in the Senate of the Federal Republic of Nigeria!

Senate President, Ahmad Lawan PhD, CON led the Principal Officers into the chambers; took the official prayers; and began the day’s proceedings at 10:36am.

‪Senator Oriolowo Adeyemi‬ ‪moved for the approval of votes and proceedings of Wednesday, 26th February 2020. Senator Uche Ekwunife seconded.‬

ANNOUNCEMENT
Senate President, Ahmad Lawan PhD, CON announced that the burial of late Senator Longjan Ignatius Datong would hold on the 2nd of March, 2020 in Plateau State.

POINT OF ORDER
Senator Boroffice Ajayi cited Order 43 and informed the Senate on the outbreak of Corona Virus and the urgent need for Nigeria to contain the spread, screen passengers at the airport and take adequate measures.

“While the Federal Ministry of Health and associated agencies may be doing their best I think this best is not good enough and we should not take anything for granted. We are a prayerful nation. When we pray we should work with prayer. We must take all the necessary measures at our sea ports and airports. People should be screened and be quarantined. The Committee on Health should engage with the Federal Ministry of Health that people are screened when they come into our country.”- Senate President, Ahmad Lawan PhD, CON.

PRESENTATION OF BILLS- First Reading

  1. Pharmacy Council of Nigeria Act CAP. P17 LFN, 2004 (Repeal & Re-enactment) Bill, 2020 (HB. 334) by Senate Leader.

Pharmacy Council of Nigeria Act CAP. P17 LFN, 2004 (Repeal & Re-enactment) Bill, 2020 (HB. 334) was read the First Time.

  1. 1999 Constitution of the Federal Republic of Nigeria (Alteration) Bill, 2020 (SB. 323) by Senator Ovie Omo-Agege.

1999 Constitution of the Federal Republic of Nigeria (Alteration) Bill, 2020 (SB. 323) was read the First Time.

  1. FCT Customary Court Act 2007 (Amendment) Bill, 2020 (SB. 315) by Senator Opeyemi Bamidele.

FCT Customary Court Act 2007 (Amendment) Bill, 2020 (SB. 315) was read the First Time.

  1. Medical Rehabilitation Therapists (Reg, etc) Bill, 2020 (SB. 352) by Senator Adeola Solomon.

Medical Rehabilitation Therapists (Reg, etc) Bill, 2020 (SB. 352) was read the First Time.

  1. Federal College of Education Ekiadolor (Est, etc) Bill, 2020 (SB. 354) by Senator Matthew Urhoghide.

Federal College of Education Ekiadolor (Est, etc) Bill, 2020 (SB. 354) was read the First Time.

PRESENTATION OF A REPORT

  1. Report of the Committee on Niger Delta on the 2019 budget estimates of the Niger Delta Development Commission (NDDC) by Senator Peter Nwaoboshi.

Senator Hadejia Ibrahim seconded that the Senate do receive the report of the Committee on Niger Delta on the 2019 budget estimates of the Niger Delta Development Commission (NDDC).

The Report was LAID.

CONSIDERATION OF BILLS- Second Reading

  1. A Bill for an Act to repeal the Companies and Allied Matters Act, Cap. C20, Laws of the Federation of Nigeria, 2004 and enact the Companies and Allied Matters Act, 2020 to provide for the incorporation of companies, limited liability partnerships, limited partnerships, registration of business names together with incorporation of trustees of certain communities, bodies, associations and for related matters, 2020 (SB. 251) by Senator Yahaya Abdullahi.

“This Bill is a product of the 8th Senate in which we worked hardly but was not assented to due to some errors but has now been corrected. This Bill will simply bring investors confidence and so I want to urge my colleagues to support this Bill.”- Senator Enyinnaya Abaribe.

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“This Bill is designed for the Nigerian youths and there is no better time to have this Bill signed into law. The concerns raised the last time has been taken care of. I urge my colleagues to support this Bill.”- Senator Aliyu Sabi.

“This Bill will create a situation where one man business will conform with required registration. I think it is very timely and I salute the Leader for coming up with the Bill.”- Senator Hadejia Ibrahim.

“I think it is important we look at all the issues addressed by the Bill so that we can have more companies coming here.”- Senator Ibrahim Gobir.

“It is an excellent Bill and will make business easier and enhance our economy because the modalities of how we operate our economy will be easier. It is important we do everything possible to get this Bill passed. I support this Bill.”- Senator Barau Jibrin.

“This Bill is one Bill that is so critical to the business environment in Nigeria. We do not need to waste time. What we however have to do is to strictly go through the processes and procedures of doing our Bills. So we will fast track it and for this Bill we do not have to go through public hearing again because this is a Bill that people have contributed their opinions on.”- Senate President, Ahmad Lawan PhD, CON.

A Bill for an Act to repeal the Companies and Allied Matters Act, Cap. C20, Laws of the Federation of Nigeria, 2004 and enact the Companies and Allied Matters Act, 2020 to provide for the incorporation of companies, limited liability partnerships, limited partnerships, registration of business names together with incorporation of trustees of certain communities, bodies, associations and for related matters, 2020 (SB. 251) was read the Second Time.

Senate President, Ahmad Lawan PhD, CON referred the Bill to the Committee on Trade and Investment to report within a week.

  1. A Bill for an Act to facilitate the use of information in electronic form for conducting transactions in Nigeria and for connected purposes, 2020 (SB. 155) by Senator Ibikunle Amosun.

“Everything is technology now, there is no law covering electronic transaction in this country. The only way to move up is for us to pass this Bill so that we can match up with other developed countries.”- Senator Buhari Abdulfatai.

“The Bill is overdue at this stage of our development. I will recommend that the Committee on Judiciary and Legal Matters ensure smooth implementation of the Bill.”- Senator Bala Na’allah.

“We have to be very diligent in processing this Bill. Section 7 of this Bill agrees that we need to do something. In doing so we need to be very cautious. This Bill is important and must never be killed from second reading because we need to move from where we are.”- Senator James Manager.

“We are in a world today where it is all about E-Commerce and E-Transactions. I am supporting this Bill because the only way we can have the required growth in our trade is when we are able to protect our traders. I think this very Bill is something that every single one of us is in support of.”- Senator Stella Oduah.

“I have taken note of the submissions by our colleagues.”- Senate President, Ahmad Lawan PhD, CON.

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A Bill for an Act to facilitate the use of information in electronic form for conducting transactions in Nigeria and for connected purposes, 2020 (SB. 155) was read the Second Time.

Senate President, Ahmad Lawan PhD, CON referred the Bill to the Committee on Banking, Insurance and Other Financial Institutions to report within four (4) weeks.

  1. A Bill for an Act to prohibit Flaring of National Gas in Nigeria and for matters connected there with, 2020 (SB. 174) by Senator Bassey Akpan.

“I think we need to stop gas flaring completely because of the enormous damage it is causing in the Niger Delta. The black soot in Port-Harcourt is causing damage to the residents. The effect of gas flaring is seen on the environment, the damage is too much that no amount of money is enough to compensate for the suffering.”- Senator Betty Apiafi.

“The importance of this Bill speaks for itself. What we lose in economic terms is unimaginable. I think we should all put heads and hands together to end gas flaring. The companies themselves are aware that what they are doing is wrong. I therefore waste no time in supporting this bill and gas flaring as a matter of urgency should be stopped in our country.”- Senator Sandy Onor.

“I want to enjoin my colleagues that we must put all hands on deck to make sure that we eradicate gas flaring. I want to wholeheartedly plead that we should support that this Bill be read the second time.”- Senator Ibikunle Amosun.

“This Bill is vey important because to me it has full benefits when passed into law. Gas flaring is something bad for the environment. This Bill when passed will address that and provide heavier penalties for those who contravene the law. It is something that should be encouraged. This Bill is very important and we need to support it to make sure that it is passed immediately.”- Senator Barau Jibrin.

A Bill for an Act to prohibit Flaring of National Gas in Nigeria and for matters connected there with, 2020 (SB. 174) was read the Second Time.

Senate President, Ahmad Lawan PhD, CON referred the Bill to the Committee on Gas to report within four (4) weeks.

  1. A Bill for an Act to amend the Tertiary Education Trust Fund Act, CAP E4 Act No. 17, LFN 2004 to include tertiary/ teaching hospitals and for related matters, 2020 (SB. 90) by Senator Betty Apiafi.

A Bill for an Act to amend the Tertiary Education Trust Fund Act, CAP E4 Act No. 17, LFN 2004 to include tertiary/ teaching hospitals and for related matters, 2020 (SB. 90) was read the Second Time.

Senate President, Ahmad Lawan PhD, CON referred the Bill to the Committee on Tertiary Institutions and TETFUND to report within four (4) weeks.

  1. A Bill for an Act to amend the Industrial Development (Income Tax Relief) Act CAP 17 Laws of the Federation of Nigeria 2004 and for related matters, 2020 (SB. 127) by Senator Sabo Mohammed.

“This Bill should be read the second time and sent to the relevant Committee.”- Senator Bala Na’allah.

A Bill for an Act to amend the Industrial Development (Income Tax Relief) Act CAP 17 Laws of the Federation of Nigeria 2004 and for related matters, 2020 (SB. 127) was read the Second Time.

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Senate President, Ahmad Lawan PhD, CON referred the Bill to the Committee on Trade and Investment to report within two (2) weeks.

MOTION

  1. Urgent need to reduce the gap between lending interest rate and deposit interest rate among commercial banks and other financial institutions by Senator Adeola Solomon.

“The content of this motion is a sad commentary on the way we run our affairs in this country. This is very bad. We have seen what is happening in developed countries where things are working well. Why should the Central Bank of Nigeria say lending rate should be over 14 percent? We are shortchanging our businesses and citizens and this must stop. This Assembly must rise to the occasion and make sure we investigate because this is a sabotage.”- Senator Barau Jibrin.

“The only way to industrialize is to have access to infrastructure and capital. In a monopolized environment, the current lending rate is killing businesses. Unless we make the necessary corrections here, our industries would remain dead.”- Senator Sabo Mohammed.

“The only hope that the Nigerian citizen has is a sensitive parliament that will address concerns of this nature. My pain is that the government is doing whatever is seemingly possible to attract foreign investment and a Committee has been set up by the Federal Government on ease of doing business but sadly, today in the African continent, we are one of the most unstable monetary policy. We must take decisive actions to ensure policies of this nature are taken to this parliament before it is thrown out to the public.”- Senator Bala Na’allah.

“It is this same parliament that gives mandate to organizations to act or regulate in certain ways. Ours is to ensure that policies should not be against the interest of the people.”- Senate President, Ahmad Lawan PhD, CON.

“For any SME to survive then the interest rate must be single digit.”- Senator Ibrahim Gobir.

“Sometimes I wonder if our agencies are anti-people. We want investors to come into our country but we are putting interest rate at 30%. It is very sad seeing that it is the CBN making this policy of interest rate pegged at 30%. Interest rate must not be more than one digit. Banking Committees that are involved should call them and tell them the country cannot survive like this.”- Senator Buhari Abdulfatai.

“This interest rate is business unfriendly. It is only private sector that can sustain the economy and private sector cannot be strong if the lending rate is high. Most industries run on generator and they are also thinking about how they can pay back loans within one year or two years. We need to look into the policy of CBN.”- Senator Uche Ekwunife.

Senate resolved to:
Mandate the Senate Committees on Finance, Banking, Insurance and Financial Institutions and Compliance to investigate the rationale behind the huge difference between deposit and lending interest rates as obtained among commercial banks and other financial institutions to report in two (2) weeks with the Committee on Banking, Insurance and Financial Institutions leading the investigation.

ADJOURNMENT
Senate Leader moved that all items on the order paper be stood down to another legislative day. Minority Leader seconded.

Plenary is adjourned to Tuesday, 3rd March 2020.

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