By Gloria Ikibah

The Chairman of the House of Representatives has said that the task of reclaiming Nigeria’s economy and resetting it on the path of sustainable growth and development after several years of failure to do the needful is a most critical challenge.

This is as the Chairman, House Committee on Monitoring, Evaluation and Implementation of the Legislative Agenda, Rep. Patrick Umoh, reiterated that the President Tinubu’s administration was truly committed to addressing the economy in line with the Renewed Hope Agenda and Legislative Agenda of the 10th House of Representatives, particularly Agenda No. 4.

Rep. Umoh stated that Nigeria was potentially positioned to serve as the green, blue and digital hub of Africa, due the enormous endowment of green, blue and digital resources, available in the country.

The committee chairman disclosed this at a press conference on the “Post National Roundtable On The State Of The Economy” with emphasis on an enthralling need for diversification with special focus on green, blue and digital economy.

He said the unsustainability and precariousness of Nigeria’s mono-cultural oil-dependent economy cannot be over-emphasised, particularly in the light of current economic challenges precipitated by the dynamics of the international oil market and the accelerating global transition to a net-zero carbon/non-fossil economy.

He further said the state of the economy today depicts the paradox of a nation whose matchless potentials and opportunities for greatness are clearly at variance with the sad realities of plummeting inflation, unemployment, food and social insecurity and other indicators of an economy in distress.

Rep. Umoh highlighted that the National Assembly has in pursuance of its constitutional mandate, made a number of interventions both at Plenary and Committee levels towards the resolution of our national economic challenges.

He said: While these interventions are indeed, yielding positive results, the need for a strategic stakeholder’s engagement, collaborations and contributions in this regard cannot be over- emphasised.

“It is against this backdrop that the House Committee on Monitoring, Evaluation and Implementation of Legislative Agenda and the leadership of the House agreed to host this National Roundtable on the State of the Economy with the theme,”Economic Diversification: from Agenda to Action through the Unlocking of New Vistas of Opportunities in the Green, Blue and Digital Economy”.

He explained that the National Roundtable which held on the 15th of July, 2024, provided a veritable platform for stakeholders in Nigeria’s economic development to holistically appraise and address the country’s economic challenges and proffer workable solutions, particularly through the harnessing and maximisation of green, blue and digital resources.

“I have no doubt that those of you -Gentlemen of the press who covered this event would concur that this Roundtable was a monumental success.

“The Committee remains highly appreciative of all the esteemed Speakers, Resource Persons and Stakeholders who graced the event inspite of their tight schedules. This is a validation of the great value which Stakeholders attach to the subject matter of this Roundtable.

“The participants at the Roundtable cut across all the relevant sectors including the Government- the Honourable Members of the National Assembly, the relevant Ministries, Departments and Agencies of the Federal Government, the Organised Private sector, the Academic Community and the civil Society.

“The contributions of our development partners- Konrad Adenaeur Stiftung and Afrexim Bank towards the success of the Roundtable are worthy of appreciation.

“The Resolution of the Roundtable through the Communique for the hosting of other Roundtables on the specific subject matters of Green Economy, Blue Economy and Digital Economy aligns with the Committee decisions to host series of Roundtables quarterly on the Strategic issues and the priority areas in the Agenda of the 10th House of Representatives”, he noted.