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Senate hails FG’s payment of ₦4.83trn ways and means

Senate Commends Federal Government’s Fiscal PoliciesThe Senate has lauded the federal government’s decisive action in repaying a significant portion of the ₦30 trillion obtained from the Central Bank of Nigeria (CBN), amounting to a staggering ₦4.83 trillion. This proactive measure, coupled with the CBN’s settlement of $7 billion in valid foreign exchange backlogs, has injected renewed vigor into the economy, leading to a notable improvement in foreign direct investments.

In a statement released by Senator Opeyemi Bamidele, leader of the Senate, the positive impact of these actions is expected to reverberate across various sectors, particularly in mitigating inflationary pressures.

As the consumer price index is anticipated to witness a significant decline by mid-year, the Senate reaffirms its commitment to providing legislative support to key public institutions, ensuring they effectively fulfill their mandates in accordance with the constitution.

Reflecting on the recently concluded Ramadan fasting period, Senator Bamidele underscored the importance of imbibing the lessons of compassion, forgiveness, and peaceful coexistence beyond the confines of religious observance.

Emphasizing the need for collective action in addressing internal challenges and sustaining economic stability, Senator Bamidele urged Nigerians to prioritize national interests over personal gain or political aspirations.As the nation celebrates Eid-el-Fitr, Senator Bamidele extends warm wishes to the Muslim community, calling for unity and solidarity in the pursuit of a prosperous and harmonious society.

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