Nigeria’s House of Representatives on Thursday rejected a bill that seeks to scrap the Nigeria Social Investment Authority (NSIA) and transfer its functions and assets to the Federal ministry of Finance Incorporated.
Many members of the House, who spoke against the second reading of the bill, were of the opinion that the agency was carrying out the functions for which it was set up, stressing that what needed to be done was the strengthen it and make it stronger to be able to discharge its mandate.
Deputy Minority Leader, Toby Okechukwu said the Lagos/Ibadan Expressway, the second Niger Bridge and the Abuja/Kano dua carriage way are projects being handled by the NSIA, stressing that “these are the only projects the house can say for sure will be completed.
Okechukwu argued that repeating and transferring the functions of the agency to the Federal Ministry of Finance will not be doing justice to the agency, adding that the excuse of that it was not being accountable to the National Assembly should not be a reason to repeal a law.
He said if an agency of government failed to be accountable or respond to calls from the National Assembly, the agency should be sanctioned including the head of that agency.
Justifying why the law should be repealed and the function transferred to the Ministry of Finance, Sponsor of the bill, Oluwole Oke, said the core mission of the NSIA is to building a savings base for the Nigerian People, enhance the development of Nigeria’s infrastructure and provide stabilization support in times of economic stress with the core value of discipline, Integrity and Transparency.
