Daily Trust Abuja Musa Abdullahi Krishi
Displayed with permission from allAfrica.com

The House of Representatives has resolved to constitute an ad-hoc panel to probe the Central Bank of Nigeria (CBN) over its inability to provide operators of the automobile industry access to foreign exchange.

The House also called on the executive arm to provide bail-out funds for Nigeria’s automobile industry as a way of encouraging industrialization and save the sector from collapse.

The resolution was sequel to a motion by Rep Saheed Akinade-Fijabi (APC, Oyo) who expressed concern that the automobile industry in Nigeria was facing imminent collapse with indigenous companies like Innoson about to join the league of companies closing shop in the country.

Meanwhile, the House of Representatives has urged the executive arm to implement the Abuja declaration on health sector by allocating at least 15 percent of the 2017 budget to the sector.

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