NASS vows to enhance economic growth through new legislation, reforms
The Deputy Speaker of the House of Representatives, Benjamin Kalu, has expressed the commitment of the 10th National Assembly to introduce new legislations and revamp outdated ones in order to boost economic growth.
Kalu made this known during the 2023 West Africa Small and Medium Enterprises (SMEs) exhibition held in Abuja on Thursday.
Representing Kalu at the event was Rep. James Barka, the Chairman of the House Committee on Commerce.
According to him, the the new legislation would be in line with tthe government’s commitment to grow SMEs, most especially in techs and renewable energy subsectors.
He said, “This is to complement the efforts of President Bola Tinubu in growing out SMEs most especially in techs and renewable energy subsectors.
“These will be through appropriate legislative tools that include developing a new legislation and overhauling the obsolete ones for effective leveraging for the overall economic growth of our nation.”
The lawmaker also stressed the need to support the SMEs in the area of technology development and renewable energy advancement.
“This will help to address the endemic energy shortage and improve consistent power supply to rejuvenate the real sector of the economy,” he said.
The Chief Executive Officer, Sterling One Foundation, Ms Olapeju Ibekwe harped on the roles of SMEs in reducing poverty.
Ibekwe said that her organisation was committed towards improving food security, climate action, health education and mainstreaming of gender equality.
“We see ourselves as a vehicle for positive social impact and we prioritise reduction of poverty.
“The SMEs play a very significant role in the economy of any country when it comes to revenue generation that can help to reduce poverty in families and homes.
“Our foundation prioritises health, food security, gender equality, climate action and education.
“Our role is to provide capacity building for SMEs for young men and women from startup to investment.
“And that capacity building gives them knowledge on how to access market, how to build their businesses, how to become financially sustainable, how to become financially, independent over time,” she said.
Also, ECOWAS Commissioner, Economy Affairs and Agriculture, Masandje Toure-Litse represented by Dr Enobong Umoessien, stressed the need to develop infrastructure such as energy, roads and human capacity for SMEs to thrive.
“Without energy stability, there is no way the SMEs will thrive and harness the potentials we have,” she said.
Senior Special Assistant to the President on Micro Small and Medium Enterprises (MSMEs) and Job Creation, Mr Temitola Johnson, reiterated the commitment of the government in providing an enabling atmosphere and support for SMEs to thrive
