Debt Management Bureau Amendment Bill Makes Progress

A bill for an Act to amend the Debt Management Bureau Act 2011 had scaled second reading at the House of Representatives.

The bill seeks to increase the powers of the Debt Management Bureau.

Leading the debate on the general principle of the bill, Rep. Hussaini Namadi (PDP – Jigawa) said there was need to confer more powers on the Debt Management Bureau for better debt management and administration.

He said there was already an existing Act, adding however, that it was imperative that more powers were given to the Bureau.

Rep. Friday Itulah (PDP – Edo), in his support, said the proposed amendment would enable the Bureau discharge reponsiblities given to it.

Rep. Ganiyu Olukolu (ACN – Lagos) who also supported the bill, said the amendment would help to generate revenue for the Bureau.

In another development, a bill for an Act for the Federal Government Parastatals and Agencies (Tenure of Chief Executives) also scaled second reading.

The bill seeks to recommend one single term of five years for chief executives of all parastatals and agencies.

Leading the debate on the general principles of the bill, Rep. Jim Adun (ACN – Edo) said the proposed bill would create Uniformity.

He urged his colleagues to support the bill, saying it was an important piece of legislation for the Bureau.

Rep. Nathaniel Agunbiade (ACN – Osun) also supported the proposed legislation, saying that it would guard against dictatorship.

Rep. Ali Gaiya (PDP – Kaduna) said a single term for Chief Executives ‘’is an opportunity to contribute to national growth.’’

The Bill was referred to Committee on Justice for further legislative action.