Senate President, Bukola Saraki Vows To Revive Nigeria’s Economy

 

The Senate President, Bukola Saraki, has promised to do all that is within the ambit of the law to re-invigorate the dwindling nation’s economy and make it compete with that of developed nations across the country.

Saraki made the vow on Wednesday when he received a delegation from the United Kingdom Emerging Capital Market Taskforce in Abuja where he said the Eighth Senate will surprise Nigerians with the quality of legislation it will provide the Buhari led administration.

He stated that the present administration led by President Buhari is working towards attracting investors whose entry will revamp the nation’s stock market and ailing industries that dot the landscape.

In Saraki's words:

"The Senate is acutely aware that as attractive as Nigeria’s market is for investment, the challenge is in creating a friendly business environment that is conducive and competitive in today’s global context.

We are already taking the bull by the horns and we are at advanced stage of putting together an engagement structure with the business community to fashion out a holistic plan of action that will bring about a comprehensive review of the regulatory instruments and legal structures that inhibit investments and depress capital formation across our business structure"

He further assured Nigerians that the Senate will at all times support and push for policies that will create deep, transparent and open capital market with numerous company listings. He said:

           "Nigerians want to see legislative instruments that will help to open and stimulate            private sector investment in infrastructural development. This will serve as a                    primary source of funding for national development and also lead to job creation              for our teeming populace in line with the Federal Government’s agenda for youth            employment "

Saraki also commended the UK Foreign and Commonwealth Office for the initiative of sending a task force on emerging capital market to Nigeria. He also urged the Taskforce to identify Nigeria as a priority market adding that the Senate will continue to fashion out legislative instruments towards achieving set  objectives.

In his remarks, Roger Gifford, the leader of the delegation, called for continued collaboration between Nigeria and the UK government and said Nigeria has been identified as an emerging economy in Africa.

Gillford said: "I can only task Nigeria to continue to work together with the United Kingdom in order to make good use of the new partnership".


Saraki, we say a big Amen! to your vow for revival. We are all waiting and looking.