Friday, July 18, 2025
Freedom Online
  • Home
  • News
    • Foreign
    • Crime
  • Business
  • Politics
  • Health
  • Entertainment
  • Interview
  • Sports
  • Ad Rates
No Result
View All Result
Freedom Online
  • Home
  • News
    • Foreign
    • Crime
  • Business
  • Politics
  • Health
  • Entertainment
  • Interview
  • Sports
  • Ad Rates
No Result
View All Result
Freedom Online
No Result
View All Result

Senate supports FG’s move to abolish National Economic Intelligence Committee

Freedom Online by Freedom Online
May 7, 2013
in Featured, News, Politics
0
Senate supports FG’s move to abolish National Economic Intelligence Committee
1.6k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

david-markThe Senate on Tuesday expressed its support for the move by the Federal Government to abolish the National Economic Intelligence Committee (NEIC).

The senators’ stand followed the second reading of the Bill for an Act seeking to repeal the law which established the committee.

Leading the debate, Senate Leader Victor Ndoma-Egba said the objectives of the NEIC was to work out details on the methods of enforcing implementation of the annual budget.

He said that NEIC objectives, among others, included the consideration of any issue appropriate and relevant to the subject of revenue collection.

Ndoma-Egba, however, submitted that the objectives of the NEIC have lost their relevance in the face of current economic policies of the government.

He said that the objectives of the NEIC were currently being handled by the Ministry of Finance, the Budget Office and other existing economic and financial institutions.

“The Bill is very straight forward and it is meant to remove the NEIC Act from our Statute books because it has outlived its usefulness.

“Apart from Ministry of Finance and its parastatals, the National Planning Commission is also performing similar functions.

“The decision of the Executive to repeal the Act is a right step in the right direction,‘’ Ndoma-Egba said.

In his contribution, Sen. Uche Chukwumerije (PDP-Abia) argued that the repeal of the NEIC was a demonstration of government’s effort to shed “excess load’’ which had become a big drain on resources.

“Every excess load should be cut off. This is one of those excess loads that we must throw away to enable us go forward.’’

Sen. Chris Anyanwu (APGA – Imo) commended the government for taking appropriate action to do away with irrelevant institutions and agencies of government.

“This one has outlived its usefulness and for the first time we are taking the right step to abolish it, otherwise we will just be creating `jobs for the boys’’.

Also speaking, Sen. Ita Enang (PDP –Akwa Ibom) urged the Senate to look beyond the NEIC and take necessary action to abolish other agencies whose objectives were no longer tenable.

“The Constitution has set up the National Economic Council with the Vice President, 36 governors and CBN governor as members. There is therefore no need for the continued existence of the NEIC.

“I pray that the President, and we the legislature, will look out for those government bodies that need to be abolished, so that appropriate action can commence on them, ‘’ Enang urged.

Similarly, Sen. Adesola Adeyeye (ACN – Osun) noted that the country could only achieve economic progress when government pays serious attention to curbing the waste of public funds.

“If we must run Nigeria well, then we must reduce the size of government. You don’t create endless bureaucracy to achieve efficiency.’’

Senators Ben Ayade (PDP- Cross River) and George Akume (ACN- Benue) however cautioned that instead of repeal, the NEIC Act should be amended for enhanced performance.

Akume noted that the NEIC was still relevant to help in monitoring the activities of the CBN and the Ministry of Finance for proper implementation of government’s economic policies.

“Instead of outright repeal, we should find ways to reform it for maximum and efficient performance.’’

Ayade pointed out that it would be difficult to monitor the government’s economic policies without the existence of a superior economic intelligence committee.

“We need an independent economic intelligence committee to monitor the Ministry of Finance and other related agencies.

“We should make amendments to re-organise the selection process into the committee.

“This will eliminate the problem of under-performance and boost efficiency, ‘’ he argued.

The Bill was then read for the second time and referred to the Senate Committee on Finance for further legislative action.

 

Share25Tweet16Send
Previous Post

IG redeploys 11 police commissioners

Next Post

Jonathan: Economic emancipation, way out of Africa’s problems

Related Posts

Aisha Achimugu arrested after return from London, billionaire businesswoman goes on hunger strike
Breaking News

Alleged $12m fraud: Witness narrates role of Aisha Achimugu, Sun Trust Bank executives in multi-million dollar cash transfers

July 18, 2025
Awujale’s passing: Seriake Dickson visits Ijebu-Ode,  meets family, chiefs
Breaking News

Awujale’s passing: Seriake Dickson visits Ijebu-Ode, meets family, chiefs

July 18, 2025
Buhari was a man forged in the furnace of battle, tempered in the trials of governance — Akpabio
News

Buhari was a man forged in the furnace of battle, tempered in the trials of governance — Akpabio

July 17, 2025
Next Post
Jonathan: Economic emancipation, way out of Africa’s problems

Jonathan: Economic emancipation, way out of Africa's problems

tambuwal

2015 presidential election: Reps to probe Dokubo, Kuku's utterances

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

https://freedomonline.com.ng/wp-content/uploads/2025/01/5aeac180-db4e-4e7c-bd37-07ddbf15b053.mp4

Popular Stories

  • Buhari: From May 29, I will be far away from Abuja

    Buhari dies in London (see details)

    203 shares
    Share 81 Tweet 51
  • ‘It is an abomination to bury Awujale outside sacred grounds of Igbo Odu’

    85 shares
    Share 34 Tweet 21
  • Diya’s son: How Awujale saved my father from Abacha

    82 shares
    Share 33 Tweet 21
  • Tinubu calls Aisha Buhari, orders Shettima to accompany ex-President’s body home from London

    74 shares
    Share 30 Tweet 19
  • Coat of Arms: Keyamo warns Atiku

    73 shares
    Share 29 Tweet 18
  • Buhari granted me presidential pardon, restored my dignity as full-fledged Major General, says Olanrewaju

    73 shares
    Share 29 Tweet 18

Latest Stories

Aisha Achimugu arrested after return from London, billionaire businesswoman goes on hunger strike

Alleged $12m fraud: Witness narrates role of Aisha Achimugu, Sun Trust Bank executives in multi-million dollar cash transfers

July 18, 2025
Awujale’s passing: Seriake Dickson visits Ijebu-Ode,  meets family, chiefs

Awujale’s passing: Seriake Dickson visits Ijebu-Ode, meets family, chiefs

July 18, 2025
Buhari was a man forged in the furnace of battle, tempered in the trials of governance — Akpabio

Buhari was a man forged in the furnace of battle, tempered in the trials of governance — Akpabio

July 17, 2025
Osinbajo in Bauchi, says ‘nothing can divide Nigeria’

Buhari’s shocker: I look forward to leaving, and when it’s time, I go to my grave, by Femi Adesina

July 17, 2025
Tinubu renames UNIMAID as Muhammadu Buhari University

Tinubu renames UNIMAID as Muhammadu Buhari University

July 17, 2025
Tinubu: I am confident 2025 will bring brighter days

Tinubu: Buhari and I formed an alliance that led to first true democratic transfer of power

July 18, 2025
Buhari served Nigeria with commitment that must not be let to fade —- Shettima

Buhari served Nigeria with commitment that must not be let to fade —- Shettima

July 17, 2025
Freedom Online

© 2025 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.

Navigate Site

  • Home
  • News
  • Business
  • Politics
  • Health
  • Entertainment
  • Interview
  • Sports
  • Ad Rates

Follow Us

No Result
View All Result
  • #13921 (no title)
  • Advert Rates
  • APC ad
  • Archive Sitemap
  • Contact
  • Contact Us
  • Documents
  • Full Width
  • Homepage
  • Ogun State
  • Ogun State banner ad
  • P-A
  • P-A2
  • Privacy policy
  • Sample Page
  • Sample Page
  • Submit an article
  • Welcome

© 2025 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.