Abbas Backs Tinubu’s Reforms, Seeks Business-Friendly Laws

Speaker of the House of Representatives, Dr. Tajudeen Abbas, says the National Assembly will continue to enact business-friendly laws to support President Bola Tinubu’s economic reforms, attract investment and drive sustainable economic growth.

Abbas stated this while declaring open a public hearing on 13 commerce-related bills organised by the House Committee on Commerce at the National Assembly.

He said the proposed legislation would provide a stronger legal framework for enterprise by promoting fair competition, protecting legitimate business interests and improving Nigeria’s competitiveness as an investment destination.

According to the Speaker, the House remains committed to passing laws that improve the ease of doing business, support entrepreneurship, remove unnecessary regulatory barriers and create opportunities for Nigerians.

He noted that the review of the commerce bills aligns with the Legislative Agenda of the 10th House of Representatives, which prioritises economic growth, institutional reform, good governance and private sector development.

Abbas said the legislative efforts also reinforce the Tinubu administration’s Renewed Hope Agenda, adding that the House would continue to provide the legislative framework and oversight needed to translate the government’s economic reforms into tangible benefits for businesses, investors and citizens.

Earlier, Chairman of the Committee, Munir Ahmed, said the 13 commerce-related bills are aimed at modernising Nigeria’s commercial laws, strengthening professional regulation and positioning the country to maximise opportunities under the African Continental Free Trade Area (AfCFTA).

He said the proposed legislation is designed to remove legal barriers to economic growth, improve the business environment and enhance Nigeria’s competitiveness in regional and global markets.

Ahmed explained that the bills cover three broad areas: expanding global trade and protecting local assets; modernising commerce and the digital economy; and strengthening professional standards and institutional capacity.

According to him, the proposals include the AfCFTA Domestication Bill, amendments to the Nigerian Export Promotion Council (NEPC) Act, reforms to the Sale of Goods Act and the Price Control Act, as well as bills to establish or strengthen professional bodies in human resource management, business development, counselling, sustainability, applied information management and risk management.

The public hearing was attended by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, heads of government agencies, industry leaders, lawmakers and other stakeholders.

Oduyemi Odumade, Edited By Grace Namiji