The finance ministry further identified three transmission channels through which the crisis could affect the Nigerian economy: crude oil and gas prices, capital flows and financial markets, and global logistics and supply costs.
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The Benue State House of Assembly has constituted an ad-hoc committee to scrutinise the cash flow of local governments aimed at strengthening transparency and accountability at the grassroots level.
The constitution of the committee took place during plenary on Tuesday in Makurdi.
The Speaker, Mr Alfred Emberga, said that Gov. Hyacinth Alia had disclosed at several fora that his administration had granted full autonomy to local governments.
Emberga noted that adequate funds were consistently released to enable them to discharge their responsibilities effectively.
The committee was chaired by the House Majority Leader, Mr Thomas Dugeri, with Mr Cyril Ikong serving as vice chairman.
Other members include Mr Terna Shimawua, Mr Abu Umoru, Mr Bemdoo Ipusu, Mr Douglas Akya, and Mr Isaac Ochekliye.
Emberga said that the committee’s secretariat would be handled by Mr Daniel Gever as secretary, assisted by Mr Michael Tsav.
He charged the committee to carry out a thorough and diligent assignment, urging them to submit their report within 21 days.
Meanwhile, the house also considered and passed four bills.
The bills include a bill to provide for the Benue State Pension Harmonisation and Minimum Pension Law, 2026, aimed at improving pension administration and welfare of retirees, sponsored by Mr Douglas Akya and five others.
The house equally passed a bill establishing the Benue State Security Trust Fund, designed to enhance security funding, as well as a bill to repeal the Local Government Law 2007 and enact a new legal framework guiding the establishment, structure, composition, financing, and functions of local government councils in the state.
In addition, the assembly passed a bill to provide a comprehensive framework for mainstreaming climate change actions.
The proposed law also introduced a system of carbon budgeting and establishes the Benue State Council on Climate Change Secretariat, reflecting the state’s commitment to environmental sustainability and climate governance.
Benue Assembly sets up ad-hoc committee to check LGs earnings
PREMIUM TIMES reports that the initiative is expected to improve location identification, support emergency services, strengthen security operations and enhance logistics and e-commerce delivery across Nigeria.
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“One of these significant reforms was the unification of the foreign exchange market.”
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