Mohammed Sani Musa, a prominent Nigerian politician, represents the Niger East Senatorial District in the National Assembly. Serving as a federal lawmaker since 2019, Musa currently chairs the Senate Committee on Finance. With a solid background in business administration and finance, Musa brings extensive expertise from both private and public sectors to his legislative role.
Educational and Professional Background
Born on May 11, 1965, in Minna, Niger State, Musa holds a B.Sc. in Business Administration with a specialization in Banking and Finance from Ahmadu Bello University, Zaria, obtained in 1990. Furthering his education, he earned a postgraduate certificate in international management from the University of Liverpool and a postgraduate diploma in public policy and management from the University of London.
Musa’s career spans significant leadership roles in various private entities and public capacities in Niger State. Notably, during his first term as a Senator, he introduced the controversial ‘Protection from Internet Falsehoods and Manipulation and Other Related Matters Bill, 2019, commonly known as the ‘Anti-Social Media Bill.’ Despite widespread criticism, Musa defended the bill as a necessary measure to curb fake news and ensure sanity in the social media space.
Political Aspirations and Legislative Contributions
In 2021, Musa aspired for the national chairmanship of the ruling All Progressive Congress (APC) and later contested for the Senate presidency in the 10th National Assembly in 2023, though both attempts were unsuccessful. As an expressive and dedicated legislator, Musa has sponsored several significant bills, including the National Rural Employment Guarantee (Est., etc.) Bill, 2021; the Loan Recovery (Regulation) Bill, 2020; and the Rape and Insurgency Victims Stigmatization (Prohibition) Bill, among others. He advocates for a cashless society to curb abuse and corruption in Nigeria.
Under Senate President Godswill Akpabio, the committee has made significant legislative progress, addressing key issues such as the student loan bill, the 2024 appropriation act, and the supplementary act of 2023, all of which have received presidential assent. Private bills from distinguished senators have also progressed, with some undergoing public hearings. The committee has acted on the supplementary budget, held investigative hearings on stamp duty and waivers, and facilitated interactions with government-owned enterprises and ministries to ensure proper fund remittances to the Federation’s consolidated revenue account.
Economic Challenges and Solutions
Addressing economic challenges, Musa highlighted the slow global economic recovery post-COVID-19 and the transition between governments. He emphasized the need for a diversified economy, urging Nigerians to enhance productivity in various sectors beyond oil. Musa advocated for the development of cottage and nano-industries, citing Kenya’s successful nut processing industry as an example of small-scale operations contributing significantly to the economy.
Policy Discussions with the Executive
Musa revealed ongoing discussions with the executive to harness Nigeria’s natural and human resources. He emphasized the importance of domestically driven economic policies and expressed confidence in President Tinubu’s economic vision. Musa criticized the previous administration’s lack of comprehensive economic planning and stressed the need for well-structured economic policies to drive growth without over-reliance on international loans.
Tax Waivers and Revenue Generation
Musa addressed the significant losses incurred due to tax waiver abuses, advocating for a regulated waiver system to boost economic activities and employment. He called for stringent measures to ensure transparency and proper documentation in waiver allocations, suggesting a rebate system to incentivize compliance.
Oil and Gas Sector Reforms
Discussing the oil and gas sector, Musa emphasized the need for accurate metering to monitor production and revenue. He highlighted ongoing efforts with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to attract investment, block leakages, and formalize illegal mining activities to maximize the sector’s potential.
Amending the CBN Act
Musa acknowledged international concerns about amending the CBN Act, assuring that any changes would strengthen the institution and align with global standards. He emphasized the importance of evolving laws to meet current economic circumstances without compromising the CBN’s functionality.
Borrowing and Debt Management
Addressing concerns about Nigeria’s borrowing levels, Musa compared the situation to the United States, stressing the need for effective resource management and productivity. He advocated for a focus on backward integration and research to maximize the benefits of borrowed funds.
Musa detailed the National Assembly’s efforts to ensure accountability in MDAs, including investigations into improper fund remittances and operational surpluses. He emphasized the importance of adhering to constitutional provisions and fostering transparency in financial management.
Encouraging a Cashless Society
Musa called for the Central Bank to promote a cashless society to curb corruption and enhance financial transparency. He stressed the need for stringent enforcement of existing laws to achieve this goal.
Musa concluded by expressing confidence in President Tinubu’s economic plans and the National Assembly’s commitment to supporting these initiatives through effective legislation and oversight. He called for a collective effort to harness Nigeria’s vast resources and achieve sustainable economic growth.
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Written By: Doris Chinwe Omemgbeoji