Naira depreciation: Bamidele seeks innovative legislation to ensure stability

, on Friday, October 20, challenged federal lawmakers to come up with creative legislative frameworks and provide robust oversight support that could guarantee the appreciation and stability of Naira.

Organised by the National Institute of Legislative and Democratic Studies, the retreat was designed to build the capacity of the senators to enact pro-people legislation that could promote enduring peace; guarantee sustainable development and deepen peaceful co-existence, among Nigerians. He said: “Henceforth, developing appropriate legislative frameworks is central to ensuring macroeconomic stability with a focus on managing inflation, addressing high-interest rates as well as foreign exchange deficit.”

He emphasised the need to prioritise the Small Towns and Village Recovery and Development Bill in order to restore economic fairness to the rural communities in the scheme of national revenue allocations as well as the provision of rural infrastructure. “To reduce the increasing inequality between the poor and rich, we urgently need to strengthen the National Directorate of Employment through the amendment of relevant legislations that will create limitless opportunities for our teeming jobless populations.

As a matter of national security, the senate leader tasked the National Assembly to work out preventive measures to address corrupt practices rather than emphasising antidotes to cure them.

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