House of Reps Moves to Unlock Nigeria’s Economic Potential

By Modupe Gbadeyanka

The House of Representatives has assured Nigerians that it would pay more attention to bills and motions aimed to improve the economy of the country.

Speaker of the House, Mr Femi Gbajabiamila, urged his colleagues to put heads together to achieve this target and not sponsor bills that seek to establish new institutions, which he stressed could drain the economy.

“At a time of reduced revenue, with pre-existing and worsening infrastructure deficits requiring significant investments, we cannot afford to keep establishing more institutions that impose a permanent liability on government income.

“I am not unmindful of the realities that often necessitate such legislation, yet we cannot ignore the facts that lie before us,” the lawmaker said while welcoming members of the House back from the Christmas and New Year break at the plenary on Wednesday.

He said instead, the representatives of the people should concentrate on bills and motions that would improve the ease of doing business.

“In the 2021 legislative year, we will focus the attention of the House of Representatives on bills and motions that improve ease of doing business and unlock economic potential by stripping away restrictive regulation and ending predatory regulatory practices that deprive our young people the opportunity to conquer new frontiers,” he said.

Mr Gbajabiamila also disclosed that, “In this age of technology and innovation, of daring and enterprise, we cannot risk implementing policies that handicap our ability as a nation to participate in new markets and profit from emerging industries.”

He further said the legislative arm of government will work together with the executive to improve the security situation in the country and ensure the use of its appropriation powers to hold those responsible accountable.

“The true test of government is in our ability to protect the most vulnerable amongst us. We cannot separate the goal of economic prosperity from the ambition to ensure that all our people live in a just society free from abuse of power and protected by a justice system built on fairness and the rule of law.

“Therefore, we will shortly begin considering Bills to amend the Administration of Criminal Justice Act. We will follow up with a long-overdue review of the Trafficking In Persons (Prohibition) Enforcement and Administration Act and other legislation that seek to deliver a justice system that works for all,” he submitted.