National Assembly begins economic summit in Abuja

A ‎national economic summit aimed at finding sustainable solutions to the institutional, regulatory and legal impediments to business activities in Nigeria would begin this morning at the National Assembly.

It is the inaugural National Assembly Business Environment Roundtable (NASSBER) with key stakeholders drawn from the executive, legislature and the private sector to seek workable solutions to the nation’s economic problems.

In a statement in Abuja, Special Adviser on Media and Publicity to the Senate President, Yusuph Olaniyonu, said the session would deliberate on the recommendations of the Business Environment Legislation Review Report which was submitted by a team of experts in February.

The statement reads in part: “ As part of the activities leading up to the inaugural NASSBER, a business environment legiååslative review was conducted and the final peer-reviewed report was submitted to the National Assembly on 29th February 2016; which identified institutional, regulatory and legal instruments currently constraining and impeding business activity in Nigeria”.

The findings and recommendations of the report “provides a framework for the assessment and improvement of legislation and policy affecting businesses in Nigeria and will direct the deliberations at the first NASSBER event.
“The discussions will cover competition; doing business; infrastructure (public-private partnerships, rail, maritime and roads); finance and investment; intellectual property and e-business; and taxation amongst others,” Olaniyonu stated.

A further aim of the NASSBER, he noted, is to ensure that the private sector plays an active and effective role in the formulation of public policy. “The National Assembly Business Environment Roundtable is a platform designed to ensure that through research and advocacy, the private sector, legislature and executive engage to promote relevant and sound public policy.

“The National Assembly Business Environment Roundtable hopes to achieve a number of specific objectives, including: Legislative reform as it pertains to improving the business environment in Nigeria; strengthening the foundation of the Nigerian economy by ensuring smart and effective regulation.

“Increasing competitiveness and private sector investment; opening and expanding markets through infrastructure development; and, creating engagement, advocacy and consultation across key stakeholders”, the statement reads.