Implement my bills, motions holistically, Senator Nwoko to FG

….Says they are for a  better Nigeria to strive and grow

CHAIRMAN, Senate Committee on Reparation and Repertration, Senator Ned Nwoko, PDP, Delta North has asked the Federal Government to implement his bills and motions holistically in order to achieve a better Nigeria.

According to him, though the Federal Government is at the moment implementing his bills and motions bit by bit, but purposeful Nigeria,  it has become imperative for a comprehensive approach to be adopted by the President Bola Tinubu led government on them.

In a statement he personally signed on Sunday, Nwoko who is a  Solicitor, Supreme Court of England and Wales

stressed that as a Senator,  he has developed comprehensive legislative proposals that effectively address every issue with regard to his call for implementation of the bills and and other challenges faced by the masses, adding that  when the bills reach public hearings, they will receive the ample support they deserve.

Senator Nwoko said, “Bit by bit, the federal government is adopting my proposed policies—some I have as motions, others as bills. This shows that these changes are indeed possible. So why not adopt a comprehensive approach? Why not implement the full range of proposed measures instead of adopting them piecemeal?

“In January, through a press statement titled “Urgent Call for the Use of Naira as the Only Legal Currency in Nigeria and to End Other Policies That Unfairly Disadvantage the Naira,” I outlined critical measures that should be considered by the federal government and the Central Bank of Nigeria in the fight against dollarization and to stabilize the Naira.

“In that statement, I emphasized the need to end all dollar transactions in Nigeria, particularly the payment of foreign workers in dollars. This practice not only undermines confidence in our domestic currency but also widens socioeconomic disparities within the country. Additionally, I urged that all domiciliary account holdings be converted to Naira.

“I also stressed that, despite our limited volume of exports on the global market, Nigeria’s role as a major crude oil exporter means it is crucial to mandate that sales of crude oil and other exports be conducted in Naira only. This would encourage buyers to seek out Naira, leading to its appreciation through increased demand and scarcity. I stated that we must make conscious efforts in stimulating demand for Naira.

“Furthermore, I argued that the federal government must abolish the parallel market, which legalizes illegality and has led commercial banks to engage in round-tripping, making substantial illegal profits and abandoning traditional lending, thus hindering a credit economy.

“In addition, I proposed that the “foreign” reserve policy be reconsidered. Maintaining reserves in foreign currencies, known as “foreign reserves,” is counterintuitive to Nigeria’s economic sovereignty and should be reevaluated.

“Since the publication and circulation of that press statement, several measures have been introduced to enhance the value of the Naira. These include compelling banks and IMTOs to disburse diaspora remittances in Naira, new guidelines for BDCs to declare the source of FX and electronically transmit over 70% of FX sales, and an EFCC circular warning businesses against charging for services in foreign currencies. Most recently, the federal government approved the sale of crude oil to Dangote Refinery and other local refineries in Naira instead of Dollars.

“While I commend these measures, I urge the federal government to adopt a holistic approach—implement all proposed policies as they have proven to be effective. Fragmented implementation will diminish the impact of these measures on the Naira’s value.

“To address the issues of living in squalor and struggling below the poverty line due to inadequate systematic arrangements for catering to the disadvantaged population, we urgently need the establishment of a Ministry of Social Services.

“The current empowerment system is patronizing and demeaning. More than half of the money allocated for empowerment programs is stolen or wasted, and the assistance often does not reach those in need. And who are those in need? They are the disabled, the unemployed, the disadvantaged in various categories, and many others. Often, the little cash grants that eventually reach the masses are used for immediate needs like feeding or solving urgent problems rather than for expanding businesses, which defeats the purpose of the initiative.

“I would love to see a Nigeria where citizens are systematically and reliably provided with the basic necessities and support that improve their quality of life, rather than relying on such empowerment programs. To start with, we need to abolish the Ministry of Humanitarian Affairs and replace it with a Ministry of Social Services. The Ministry must maintain a comprehensive record of everyone in Nigeria, which will enable it to identify those in need of housing, employment, and other forms of support. From this record, the government can make monthly payments to those who are eligible, as a right. They should not need to know a governor, senator, commissioner, or any political leader to survive.

“This also involves low-cost housing. Once individuals are employed, they can move to the next level, freeing up their place for others. Local governments must brace up to play a crucial role in this because they are best positioned to manage the data. A local government chairman, with the help of councilors, can identify villagers who are disabled, unemployed, or otherwise disadvantaged, making it easier to detect fraudulent claims. Additionally, local governments should receive funding directly, as they are closer to the communities and better understand their specific needs and challenges. Catering and monitoring will be more manageable.

“The fund for this initiative will come from a 5% contribution by those who are working and from businesses. Federal, state, and local governments will also be required to contribute 5% of their monthly allocations to the fund. This is the only way to effectively plan a country and ensure that those in need are protected. The creation of the Ministry of Social Services is a major component of my policy proposals for better governance in Nigeria.

“Other proposed policies that the FG has partially adopted include the Malaria Eradication and Waste Management policy, as well as the Nigerian Youth Entrepreneurship Grant Program with an Agency for Oversight. While I commend the actions taken in these areas, I have reservations. We continue to use outdated approaches that have proven ineffective over time.

“Moreover, I propose the “Need for the Establishment of Social Media Platform Offices in Nigeria for Economic Advancement and Efficient Dispute Resolution.” The recent USD 220 million fine imposed on Meta by the Federal Competition and Consumer Protection Commission (FCCPC) stresses the challenges of dealing with tech giants/social media platforms that lack a physical presence in Nigeria.  This decision followed a 38-month investigation, and Meta was also required to cover USD 35,000 in investigation costs. Although the FCCPC’s actions are defensible, Meta’s lack of physical presence in Nigeria complicates legal processes and redress. This emphasizes the need for a comprehensive approach to address these issues effectively, rather than relying on fragmented policies.

“I have developed comprehensive legislative proposals that effectively address every issue raised in this statement and other challenges faced by the masses. I hope that when these bills reach public hearings, they will receive the ample support they deserve.”

Vanguard