The bill titled “Emergency Economic Stabilisation Bill 2016” was based on recommendations from the economic team headed by vice president, Yemi Osinbajo, The Brief reports.
“So we have received a presidential memo on emergency powers. What is in it is requesting presidential fiat to do things the National Assembly has already approved. Such as the procurement act and extra spending,” a source said.
According to the source, the memo sent by President Buhari to the Senator Bukola Saraki, requested two prominent emergency powers from National Assembly.
One of them is the power to abridge the procurement process to support stimulus spending on critical sectors of the economy.
Recall that President Buhari had in August informed the Senate of the plan to seek emergency power from the National Assembly to save the economy from recession.
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