News

Obsolete Laws Hamper Smooth Operation Of Public Institutions – Speaker Abbas

Published

4 months ago

July 19, 2024

By Gloria Ikibah

The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has said that obsolete laws and regulations hamper smooth operation of public institutions responsible for facilitating business activities.

The Speaker who stated this at a public hearing on five Bills organised by the House Committee on Commerce exacerbated the economic landscape of the country which is facing significant challenges.

Naijablitznews.com reports that the Bills are for the establishment of the Chartered Institute of Co-operators and Social Enterprise Management, Institute of Debt Recovery Practitioners of Nigeria, Agro Processing Export Free Zone, Integrated Corporate Data Management Commission, and Institute of Chartered Corporate and Business Affairs Management of Nigeria.

Speaker Abbas said the Bills are pivotal in fostering growth, innovation, and sustainability in various sectors of our economy and have the potential to shape the future of our nation’s economic and business landscape.

“The economic landscape of our country is facing significant challenges, exacerbated by outdated laws and regulations that hinder the smooth operation of public institutions responsible for facilitating business activities.

“These obstacles have created barriers to entry for entrepreneurs and investors, stifling innovation and growth in key sectors of our economy.

“One of the pressing issues we face is the absence of professional bodies to oversee and regulate important sectors such as debt recovery practitioners, co-operators, social entrepreneurs, agro-processing exporters, corporate data management, and corporate affairs management. Without proper oversight and regulation, these sectors are vulnerable to exploitation and malpractice, which can have far-reaching consequences on our economy.

“The establishment of these proposed institutions therefore, signifies a proactive approach towards enhancing professionalism, efficiency, and accountability within these key sectors of our economy. These institutions will not only provide much-needed oversight but also set standards, ethics, and best practices in their respective fields. By creating specialised bodies such as the Chartered Institute of Co-operators and Social Enterprise Management, we aim to promote cooperative enterprises and social entrepreneurship as viable means for inclusive economic development.

“Similarly, the Institute of Debt Recovery Practitioners of Nigeria will play a critical role in streamlining debt recovery processes, ensuring fair practices, and safeguarding the interests of both creditors and debtors. This initiative aligns with our commitment to fostering a conducive business environment built on trust and integrity.

“Furthermore, the Agro-Processing Export Free Zone holds immense potential for boosting agricultural productivity, facilitating international trade, and creating employment opportunities in rural areas. This strategic move underscores our dedication to harnessing the agricultural sector’s full potential for sustainable growth and food security.

“The establishment of the Integrated Corporate Data Management Commission is a significant step towards enhancing transparency, data accuracy, and regulatory compliance across corporate entities. By centralizing corporate data management functions under a unified framework, we aim to streamline processes, reduce redundancies, and enhance decision-making within the business ecosystem.

“Lastly, the creation of the Institute of Chartered Corporate and Business Affairs Management of Nigeria underscores our commitment to promoting professional excellence in corporate governance practices. This institution will serve as a hub for capacity building, knowledge sharing, and best practices dissemination among corporate professionals across various industries,” he said.

The Chsirman of the Committee,Rep. Ahmed Munir, assured of the collaboration of the House with other arms of government to expedite the bill’s passage into law.

He urged stakeholders to make valid input that would assist the parliament in making people oriented laws that would positively impact the wellbeing of all Nigerians.

He stated the Committee’s readiness to make good use of all the opinions and suggestions.

“The House of Representatives, 10th Assembly – the People’s parliament is committed to its mandate of making laws for the betterment of our constituents who reposed so much trust in us by electing us into this Parliament for effective representation.

“The House Committee on Commerce being one of the Standing Committees of this Assembly is working tirelessly in ensuring that there is a change of narrative in the lives of the citizens.

“Every democratic dispensation is guided by laws/acts which helps in the smooth running of the government thereby setting the rules to follow to ensure that citizens benefit maximally all that the government has in stock for them. Today, let us make contributions with our best interests in mind. Let us join hands together and make history,” he said

News

Reps Urge FG To Make Available Reliable Data On Housing Deficit

Published

4 hours ago

November 26, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has called on the Federal Government to provide scientific, verifiable data on the housing deficit and improve access to affordable housing in the Nigeria.

This resolution was sequel to the adopting of a motion by Rep. Emmanuel Ukpong-Udo, member representing Ikono/Ini Federal Constituency of Akwa Ibom State, on the “Provision of affordable housing in Nigeria,” Tuesday at plenary.

Rep. Ukpong-Udo who noted that data is considered an important factor in the planning and execution of projects across all tiers of government, said the housing sector in Nigeria, with a huge deficit, lacks veritable data for planning and execution of housing policies and strategies.

He stated: “The House is aware that according to the world population review, over 24 million people in Nigeria are homeless, with no appropriate access to proper dwelling with some basic social amenities.

“The House is worried that Nigeria is among the top 10 countries with homeless populations, leading with 24 million, followed by Pakistan, Egypt, Syria, and Congo.”

The House also expressed displeasure that the country relies on the World Bank report for housing data, and that for a nation to grow and enjoy stability, there is the need to have its housing data as well as a market that works efficiently and provides decent shelter for its citizens.

The House unanimously adopted the motion and mandated its Committee on Housing and Habitat to liaise with the Federal Ministry of Housing and Urban Development to address the lack of credible, scientific, and verifiable data on the state of housing in the country and ensure access to decent and affordable housing.

News

Provide Adequate Security For Transmission Towers Across Nigeria – Reps Tell FG

Published

4 hours ago

November 26, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has charge the Federal Government through the Ministry of Interior, to urgently provide adequate security for Transmission Towers across the country to avoid future occurrences of vandalism.

This was sequel to the adoption of a motion of urgent public importance by Rep Oboku Oforji, lawmaker representing Yenagoa/Kolokoma-Opokuma federal constituency of Bayelsa State on Tuesday at plenary.

In his lead debate, Rep. Oforji noted that on July 29, 2024, residents of Yenagoa and Bayelsa State in general woke up to a total blackout occasioned by the collapse of a Transmission Station between Emezhi and Mbaima in Ahoada East Local Government Area of Rivers State and three others between Igbogene and Nedugo Agbia in Yenagoa Local Government Area of Bayelsa State.

According to him, the Bayelsa State Government in collaboration with the Transmission Company of Nigeria, swiftly swung into action to address the challenges that has culminated in dwindling of socio-economic activities in the state.

He further noted that saddened that on the 19th of November, 2024, just as the work was nearing completion, at Ula-Akpata, in Ahoada East Local Government Area of Rivers State, some hoodlums went and vandalised a section of the lines.

The motion reads in part: “By this development, the woes of the residents of Bayelsa State still subsist for one or two days, because as we speak the people of the State are in total blackout, this has been the situation for over 4 months.

“The efforts of the Bayelsa State Government in mobilizing financial and material resources to support the Transmission Company of Nigeria (TCN) is highly commended. However, proactive measures must be taken to forestall future occurrences of vandalism of these Transmission Towers.

“As a representative of my people this brings to mind the provisions of Chapter II of the 1999 Constitution of Nigeria (as amended) which talks about our economic and social rights as citizens, which I believe should not be taken for granted by the government”.

The House adopted the motion and mandated its Committees on Interior and Power to ensure compliance.

News

JUST IN: Tinubu Heading For France

Published

6 hours ago

November 26, 2024

Naijablitznews

President Bola Ahmed Tinubu will depart Abuja on Wednesday for a state visit to France.

According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Emmanuel Macron invited his Nigerian counterpart to the European country.

Onanuga said the three-day visit will focus “on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation among others”.

“President Tinubu who will be traveling with the First Lady Sen. Oluremi Tinubu, will be received on Thursday at the 350-year-old French military museum, Les Invalides and Palais de l’Élysée, by Macron and his spouse, Brigitte, for initial ceremonies that will dovetail into bilateral meetings.”

“During the visit, President Tinubu and President Macron will harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.

“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication. They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.

“Brigitte and Nigeria’s First Lady will discuss the latter’s passion for empowering women, children, and the most vulnerable through the Renewed Hope Initiative,” the statement read.

Tinubu and his wife who will be hosted to a state dinner by the French leader before their departure, will be accompanied by top government officials.