Reps to address challenges facing private sector

Speaker of the House of Representatives, Hon. Tajudeen Abbas has pledged the 10th Assembly’s commitment towards addressing regulatory, infrastructural, and financial challenges inhibiting investments in Nigeria from the private sector of the economy.

Speaker Abbas gave the assurance while making his remarks at a reception accorded to him and his Deputy, Hon. Benjamin Okezie Kalu, the leadership, and some committee chairmen of the House by Dangote Group of Industries in Lagos, Friday night.

A statement by the Chief Press Secretary to the Deputy Speaker, Mr. Levinus Nwabughiogu stated that the President and Chief Executive Officer (CEO) of the Dangote Group of companies, Alhaji Aliko Dangote had invited the lawmakers to visit and undertake a tour of the Dangote Petroleum refinery in Lagos.

Speaker Abbas in his remarks also said that the House is working assiduously to create a conducive environment for businesses in the country.

He said: “It is with great pleasure that I thank the CEO of Dangote Group of companies for the invitation to visit and undertake a tour of the Dangote Petroleum refinery.

“We are acutely aware of the challenges facing the private sector in Nigeria, including regulatory hurdles, infrastructure deficits, and access to finance.

“The House of Representatives is committed to addressing these issues and improving the ease of doing business in our country.

“We are working diligently to create more business-friendly environment through legislative reforms that streamline processes, reduce bureaucracy, and enhance transparency.

“Our goal is to make Nigeria an attractive destination for both local and international investors.

“In line with the renewed agenda of President Bola Ahmed Tinubu, the National Assembly and the House of Representatives are committed to creating an enabling environment for the private sector to thrive.

“We understand that a robust partnership between the government and private enterprises like Dangote group is essential for sustainable development.

“To this end, we are dedicated to enacting policies that support business growth, reduce bureaucratic orders and promote transparency and accountability.”

Speaker Abbas who emphasized that the refinery will create thousands of jobs and promote local content commended the president of Dangote group for his foresight and faith in the Nigerian project.

“This fundamental project symbolizes not only the strength and potential of Nigerian industry but also the dedication and vision of one of our most esteemed business leaders, Mr. Aliko Dangote.

“As we tour this state-of-the-art facility, it is impossible not to appreciate the significant contributions Dangote group is making to our economy.

“From job creation to the reduction of import dependence, the refinery stands as a testament to the transformative impact that strategic investment can have on our nation.

“It also provides thousands of jobs, promotes local content, and drives technological advancements within our borders. Such efforts are crucial in our collective pursuit of economic stability and growth.

“The economic significance of the private sector globally cannot be overstated. Across the world, private enterprises are the engines of economic growth, driving innovation, increasing productivity, and fostering competitive markets.

“They play a critical role in work creation, poverty reduction, and the overall improvement of the standards.

“By investing in infrastructure, technology, and human capital, the private sector propels nations towards sustainable development and economic resilience.

“It is through a vibrant private sector that economies can diversify, innovate, and compete on the global scale.

“Thank you so much our dear brother for hosting us today. I want to tell you very clearly that I’m amazed, I am amazed, and I am excited to see your humble contributions to Nigeria.

“I have deeper belief now that Nigeria will one day be a greater nation. The nation has always been great for us. Thank you so much for believing in Nigeria.”

Noting that journey only got started, Speaker Abbas encouraged Dangote to further explore other avenues to complement the efforts of the federal government.

“However, the journey does not end here. There is always more we can do together to boost our economy. I encourage the group to continue exploring avenues to complement government initiatives. By investing in renewable energy, enhancing corporate social responsibility programs and fostering innovations through research and development, Dangote can further solidify its role as a key player in our economic landscape,” the Speaker added.