Reps Member Wants FG to Provide Bailout Fund for Ailing Industries in Nigeria

Hon James Faleke House of Reps member representing Ikeja Federal Constituency

A member of the lower chamber of National Assembly Hon James Faleke has move a motion seeking for bailout for ailing and collapse industries in Nigeria.

Faleke representing Ikeja Federal Constituency while presenting his motion during the plenary today presided over by speaker Dr Femi Gbajabiamila, said the development will not only resuscitate the industries but create more jobs and boost economy of the country.

He lamented that most of the companies are no longer functional and need to be resuscitated to reduce unemployment and boost economy

He also noted that Number of graduate been churn out every year without corresponding opportunities for employment is one of the major factor that is responsibilities for increasing criminal activities among the youths in the Nation

He said further that If the government  can identify about 100 company and approach world bank and international financial institutions for loans to resuscitate them, it will be better for the Nation.

Faleke maintained that there is for need for inclusion of technical courses and training that teaching of government, history and others in our schools, “If we are also able to look at our curriculum and introduce more technical program, we will be better than we are today.

Most of the lawmaker who spoke in support of the motion agreed with mover of the motion on the need for government to support ailing companies but cautions that issues of power and infrastructure be solved

Hon Babatunde Adejare from Agege Federal constituency noted that the issue of power should be included in the package that will be made available to those companies as bailout

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But a member of the Assembly said the issue of multiple taxation and power are very critical to survival of a company which the government should look into with the aim of resolving it instead of providing bailout


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