NESG tasks NASS with economic development and promotion laws

The Nigeria Economic Summit Group (NESG) has tasked the National Assembly to enact proper laws that will remove impediments to the country’s economic growth and development in general.

Chaired by NSG’s National Legislative Business Environment Roundtable

Tayo Adeloju gave the mandate when he met the Deputy Speaker of the House of Representatives, Benjamin Kalu, in his office in Abuja on Thursday.

Adeloju said the economic condition of the economy was steadily declining and there was a need for total restructuring, stressing that the 10th Assembly had a key role to play in the revival of the country’s economy.

„In the past eight years, we’ve gone through two recessions, a pandemic that has left our country with 133 million poor and an economy in need of restructuring.

“As you work for the next four years, we must introduce laws that will allow for microeconomic sustainability, we must introduce laws that will limit investments that come to stay in Nigeria.

„We need to allow laws that allow for inclusive participation in our economy and economic system, and remove the old statutory framework that has prevented key sectors of our economy from reaching their heights, such as transport, infrastructure, electricity,” he said.

Adeloju assured the cooperation of the NESG with the National Assembly to enact appropriate laws, saying the group has about 3000 volunteers who are ready to work with the House Committees.

„Partnership is what we seek because when we work together, we work faster. There are very difficult issues to discuss if Nigeria is to move forward. Call us anytime, Nigerians will be ready to work to deliver the country of our dreams.

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“In 2015, we unanimously agreed that the survival of the economy must be built around legislation. Hence, from 2016 to date, the NESG convened specific legislative sessions to promote the fact that there is no economic growth without legislative engagement.

We think that this 10th Assembly will play an important role in the development of the basketball economy.

In his reply, Deputy Speaker Kalu assured the committee that the National Assembly, especially the House, would give priority to laws that would have a positive impact on the socio-economic life of the country.

He said if the bills and motions in the National Assembly are not designed towards that goal, the NESG cannot achieve the expected growth.

Kalu said the 10th Legislature will ensure that they are not judged by numbers or bills alone, but by the social impact of such pieces of legislation.

“You have decided to come to the formative stage of the 10th Legislature, so whatever comes out will reflect the legislative instrument we are going to use.

„The 10th Legislature is currently cooking up its legislative agenda and one of the key issues we are prioritizing is the issue of the country’s economy. I saw that you have focused on executive/legislature relations and key policy issues and bills.

“The main thinking of the present administration as we have studied the national objectives and the main purpose of the administration, our thinking is that although we are three arms of government, we are one government.

“So, if the national objective is to improve the nation and it is to improve the people, all we need to do is to partner with strategic stakeholders to help them do that in legislative interventions and bills.

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“The 10th Assembly is not only interested in bills and motions. We are looking at bills that will positively impact the business environment so that it becomes better than what we have experienced, bills that will make Nigeria a commonwealth, we are determined,” he said.

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