How NASS sabotaged attempts to revive the economy since 1999

• N107tr Ready Returns Less Impact• CSO Issue Wake up Call

Implementation of No less that 270 laws promulgated by THE National Assembly has remedy major diseases In THE the nation economy Since 1999 to have suffered frustration And sabotage due has failure by THE the legislators has strictly to carry out their parliamentary monitoring Or monitoring functions .

Ironically, THE National Assembly has hosted A total of 3,283 legislators In THE even period that stepped over Seven different legislative terms. THE summit legislate organ has Also spent not less that N3 thousand billion on It is operations In THE last 14 years.

Constitutionally, THE National Assembly East authorized has to carry out complete checks through investigations And monitoring on all projects And programs For which he appropriates funds Or has powers has enact laws.

Specifically, monitoring refers to has THE part of the legislature responsibility that concerned has revision And monitoring of public sector organizations And their Strategies, plans, programs And projects has ensure that they reach expected results, represent GOOD value For money, And has ensure that their Actions are In compliance with in force Strategies, laws, regulations, And ethics standards.

From June 1999 has date, THE National Assembly, In THE Seven terms he has spent SO far, hosted A total of 3,283 legislators do up of 469 people elected has represent 109 senatorial districts And 360 federal constituencies For each term of four years.

However, poor legislative meticulous examination And failure has sanction actions of indiscipline In THE execution of THE laws, particularly on economy, to have compound account.

Sectors of THE economy that to have suffered weak legislative monitoring despite several laws And resolutions promulgated In such areas include agriculture, electricity, income generation, aviation, oil And gas, trade And investment, finance, anti-graft, And Marine transportation. Others are solid minerals development, steel, water resources, And Information And Communication Technology (ICT).

Despite THE on N3 thousand billion he has budgeted For himself, particularly In THE last 14 years, key civil servants In THE National Assembly disclosed that THE institution had has been compete with serious operational problems such as inadequate funding of a few of It is heart responsibilities as monitoring checks.

A a look has THE breakdown of budgets of THE National Assembly watch that Since 2011 has 2014, he obtained N150 billion annually. But In 2015, THE Assembly obtained 115 For It is activities while he vote N125 billion For himself In 2016 And another N125 billion In 2017. In 2018, he obtained N139.5 billion: N125 billion In 2019; N128 billion In 2020 And N134 billion In 2021. THE body obtained N139 billion In 2022, N170 billion In 2023 And N344.85 billion In 2024.

In a lot instances, controversies to have has been generated on reports that legislators account on agencies For funding of monitoring functions, A situation that has do THE summit legislative body has compromise In It is responsibilities.

Critical observers of events In THE National Assembly, particularly THE civil Company organizations (CSO) as GOOD as experts And stakeholders on economy And business related problems to have reprimand THE National Assembly has wake up up And take It is monitoring functions more seriously.

A key area Or observers to have raised concerns East THE management of THE N107 thousand billion loans SO far approved And taken.

THE 1999 Constitution (as amended) that gives power THE National Assembly has scrutinize And approve loans For THE Federal Government Also gave he powers has investigate And impose punishments For mismanagement of such loans.

THE Debt Management Desk (MDG) has revealed that Nigeria total public debt action as has September 30, 2023, was N87.91tr, including total external debt of 31.98 naira And total domestic debt of N55.93tr.

"THE major addition has THE Public Debt Action was THE inclusion of THE N22.712tr securitized FGN Manners And Means Advances. »

Also, THE Senate, as of December 2023, approved President Bolas Tinubu request has borrow $7.8 billion And 100 million euros as part of THE Federal Governments 2022-2024 loan plan. This East In addition has THE new securitization of THE Central Bank of Nigeria N7.3tr Manners And Means advances.

Just last week, A coalition of Civil Company Organizations (CSO) directed by THE Executive Director of Civil Company Legislative Advocacy Center (CISLAC), Auwal Moussa Rafsanjani, accused THE National Assembly has probe THE $3.4 billion ready collection by THE Federal Government Since THE International Monetary Funds (IMF) In April 2020 without evidence of spent on anything.

They Also in default THE endless requests For loans by THE Federal Government And expeditious approvals given by THE National Assembly with little Or Nothing has indicate has as What THE loans were used for.

According to has THE CSOs, savings ...