Chairman Senate Committee on Finance Addresses State of the Economy -Says all hands must be on deck.
By Yahaya Zakka Minna.
The Chairman, Senate Committee on Finance, Senator Muhammad Sani Musa, said that the Senate Committee on Finance is looking at range of policy options to mitigate the impact of Naira depreciation and way of fostering economic stability in the country
The Chairman Sani Musa in a Press statement said the Nigerian economy is facing significant challenges, exacerbated by both internal and external factors. Despite steps and policy decisions taken by President Bola Ahmed Tinubu GCFR,the Naira depreciation persistent against major foreign currencies has become alarming.
He observed that the recent depreciation of the Naira underscores the need for proactive measures to safeguard the stability and resilience of our currency.
According him the Senate Committee on Finance is closely monitoring the situation and is committed to working incollaboration with relevant stakeholders to implement effective policies and strategies to cushion the effect.
The Senate Chairman committee on finance stated that it has become obvious that we address the root causes of Naira depreciation and to find solution to the problem.
He mentioned that we must continue to enhance transparency and accountability in our fiscal management processes to instill confidence in investors and to promote sustainable economic growth.
‘It is also the hope of the committee that our economic managers will adhere strictly to the norms and standards set by this administration to ensure that we achieve the desired outcomes in taking Nigeria to its economic growth and prosperity. As we pledge to give Mr. President and his executive arm of government every opportunity and support in legislation to achieve the set goals”he added. .
