ACFTA: Onofiok, Ors Eulogise Presidency, Advocate Infrastructural Provision

House of Representatives has commended President Muhammadu Buhari for signing the African Continental Free Trade Agreement (ACFTA).

This followed an adoption of a motion by Rep. Odebunmi Dokun (APC-Oyo) at plenary on Tuesday.

Earlier, Dokun recalled that Buhari, at the extra-ordinary session of the Assembly of African Union Heads of States and Governments in Niamey, Niger Republic, signed the AFCFTA on behalf of the counrty.

He said Buhari, while signing the agreement, stated that the Nigerian government would seek to include terms that would engender the development of policies that would promote African production.

The legislator said that the President deserve commendation for signing the agreement which is of great significant for the country.

He said Buhari had taken steps to place Nigeria in the right place in the continent through the signing of the pact.

Dokun said Nigeria as the largest economy in Africa, should in line with the agreement, define various ways to optimise benefits accruable from the pact.

He said the country must ensure that its exports to other African markets surpassed its imports in order to have positive effects on the Gross Domestic Product (GDP).

According to him, if that is not done, the nation could be turned into a dumping ground for products from other African countries.

Dokun said that failure to do so would result in a development that would be adverse to the nation’s macroeconomic objectives.

Rep. Luke Onofiok (PDP-Akwa Ibom) said that to take the advantage of the African market, Nigeria must put some infrastructure in place.

He said that the Federal Government must invest in infrastructure such as power, rail among others as well as provide support for industries.

The house urged the federal government to set machinery in motion to ensure that Nigeria optimise the expected benefits from the agreement.

Comments

AKHA Defers Giving Resolution To Extend Transition Committees..mandates Committee to verify performance of councils

By Asuquo Edem Akwa Ibom State House of Assembly today put off giving the governor a resolution to extend the stay of Transition Committees across the State. The State governor who communicated his request for the House Resolution dated 6th May 2024 drawing strength from Section 5 sub 2 of the Local Government Administration Law pleaded with the lawmakers to heed to giving the resolution to extend the tenure of Transition Councils as the Commission responsible for conducting elections require an extended time frame. The motion to receive the letter for deliberation was moved by the member representing Ikono Rt. Hon. Asuquo Nana and was seconded by the member representing Ika State Constituency, Rt. Hon. Mfon Idung. However the Speaker, Rt. Hon. Udeme Otong stated that the Resolution as requested by the governor can't be given today as the House needs to accertain if the Transition Committees are deserving of an extension taking into consideration that they have served for six mon

Reasons Moses Essien Dumped YPP

By Asuquo Edem It's no longer news that the member representing Ibiono Ibom State Constituency, Hon. Moses Essien has parted ways with the Young Progressive Party(YPP) pitching tents with the ruling People's Democratic Party (PDP). The lawmaker who announced his defection to the PDP today during Plenary at the House of Assembly stated among other reasons his decision to move camp owing to the division amongst the leadership of YPP in the State. In his words: " I write to notify the Speaker and members of the People's Democratic party ( PDP ) in the Assembly of the formal resignation of my membership from the Young Progressive Party (YPP) to People's Democratic Party (PDP). The reason for this action is based on the division within the YPP leadership in Akwa Ibom State, where the 2023 Governorship candidate of the YPP, the state chairman of the party and the State officers including chapter officers of the party and stalwarts of the party decamp to the All Progres

AKHA Moves To Save Ibom Air From Collapse, Approves N30B Bond

By Asuquo Edem The Akwa Ibom State House of Assembly has passed a resolution for Ibom Air to access neccesary funds for operation to remain in business. The resolution came from a letter from the State Governor Pastor Umo Eno to the Speaker with details GHU/ AKS/S/104/S.4/ Vol.1/5 titled "Re: Resolution of the Akwa Ibom State House of Assembly on the Provision of Irrevocable Standing Order (ISPO) for up to N30,000,000,000.00 (Thirty Billion Naira) Bond Issuance Under the N200,000,000,000.00 (Two Hundred Billion Naira) Bond Issuance Programme by IAL Financing SPV PLC (Sponsored by Ibom Airlines Limited)." In his contributions to the letter of request, the Deputy Speaker, Rt. Hon Kufreabasi Edidem while decrying the travails of businesses with high interest rates from commercial banks noted that the approach of the governor for the airline showed clear ingenuity and encouraged his colleagues to support the cause to purchase the bond from the market. He stated that it would

The Empire

Search This Blog