The House of Representatives Committee on Customs and Excise has recommended the creation of a tripartite committee to provide a coordinated platform on fiscal and monetary policies in the country.
The Chairman of the committee, Rep. Leke Abejide (ADC-Kogi) made the recommendation on Monday at an interactive session with the Comptroller General, Nigeria Customs Service (NCS) Mr Bashir Adeniyi in Abuja.
He said the committee should comprise of the Central Bank of Nigeria (CBN) Ministry of Finance and the Nigeria Customs Service (NCS).
“Considering the complex interplay between fiscal and monetary policies and their impacts on trade, I would like to propose the formation of a tripartite committee comprising of representatives from the CBN, Federal Ministry of Finance and NCS.
“This committee will serve as a platform for open and transparent dialogue on fiscal and monetary issues as it affects trade, ensuring thorough discussion and analysis of crucial decisions before their implementation.
“Such collaborations will facilitate a more robust and coordinated approach to trade policies, mitigating potential disruptions and fostering a conducive environment for economic growth,” he said.
The lawmakers said that investors in the country woke up last week to discover that, exchange rate had been raised from N784 to N951 per dollar without any notice.
The chairman called for the implementation of the ninth House of Representatives resolution on the need to ensure a 90-day notice for policy changes.
According to him, this approach will allow ongoing transactions to conclude smoothly, minimising economic distortions and inflationary pressures.
He said that became necessary so that investors and importers were not surprised by any policy change.
In his remarks, the CG of customs said there was need for the government to pay attention to border communities by providing them some basic amenities.
He said though the service was already working closely with border communities, there was need to embark on construction of some basic amenities in some of the communities.
Adeniyi said the service intended to embark on community projects in 2024 and sought the support of the lawmakers to achieve that. (NAN). READ ALSO:
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