Reps Plan to Repeal Obsolete Laws to Boost Investment

On Thursday, Speaker Hon. Abba Tajudeen of the House of Representatives announced a commitment to repeal obsolete laws that hinder business operations in Nigeria. This initiative is part of a comprehensive legislative agenda aimed at improving Nigeria's competitiveness and attracting investment.

During a business breakfast meeting, Tajudeen emphasized the need for greater regulatory certainty, reduced business costs, expanded access to finance, and strengthened oversight of public institutions. He outlined four key areas for reform: regulatory clarity, tax harmonization, financial access for small and medium enterprises, and the repeal of laws that frustrate enterprise growth.

President Bola Tinubu's economic reforms are designed to empower businesses and stimulate private sector-led growth. Tajudeen acknowledged the economic pressures faced by businesses, including high borrowing costs and unstable electricity supply, and reiterated the House's determination to restore macroeconomic stability to foster an environment conducive to investment and job creation.