By Christiana Ekpa
The Speaker of the House of Representatives, Rt Hon Tajudeen Abbas, on Wednesday said outdated laws and regulations hinder smooth operation of public institutions responsible for facilitating business activities.
This, the Speaker said, has exacerbated the economic landscape of the country which is facing significant challenges.
He said this at a public hearing on five Bills organised by the House Committee on Commerce chaired by Hon Ahmed Munir.
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.
The Speaker said the Bills are pivotal in fostering growth, innovation, and sustainability in various sectors of our economy.
He said they 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“The economic landscape of our country is facing significant challenges, exacerbated by outdated laws and regulations that hinder the smooth operation of public institutions responsible for facilitating business activities.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.”
