Federal Gov’t Committed To Strengthening Laws For Economic Prosperity – Minister

The minister of industry, trade and investment, Dr Jumoke Oduwole, has affirmed the federal government’s commitment to create an enabling environment and implement laws supporting investment retention and promoting economic prosperity.

Oduwole cited the Tax Reform Bills currently with the National Assembly as an example of the government’s continued commitment to fostering prosperity for the public and positively affecting the economy.

The Minister was the keynote speaker at the 15th-anniversary lecture of T&A Legal in Lagos, titled “Driving the Future Economy in Nigeria: The Catalytic Role of Law.”

She also told participants at the event, which attracted experts in law and finance, including top government officials, that the federal government firmly believes that without supporting businesses operating in Nigeria, the country will not attract the necessary investments to catalyse our economy.

Oduwole also explained that the government aims to leverage trade policy to draw more investments into the country, emphasising its commitment to operationalising the African Continental Free Trade Area (AfCFTA) to facilitate trade across Africa and beyond.

Also speaking at the event, the Chairman of Federal Inland Revenue Service (FIRS), Dr Zachaeus Adedeji, said that the Tax Reform Bill represents more than just fiscal policy changes, as its implementation underscores a commitment to equity and inclusion in developing a tax system that serves all Nigerians.

Adedeji said that the role of law extends beyond regulatory mechanisms to becoming a tool for innovation, inclusion, and unlocking Nigeria’s vast resources.

He maintained that efficient, fair, and transparent tax laws empower governments to provide essential infrastructure, education, and healthcare while fostering compliance and a sense of shared responsibility among citizens.

In his welcome remarks, Seyi Adisa, Co-Founding Partner of T & A Legal, celebrated the firm’s 15 years of achievements as a testament to the vision and commitment of its founders, which have contributed to its current status.

He noted that the law firm has grown significantly, adapting to the evolving legal and business landscape while making impactful contributions to the Nigerian legal industry.

In his remarks, the Commissioner for Finance in Ekiti State, Akintunde Oyebode, identified various legal obstacles and bureaucratic bottlenecks that hinder business activities and economic growth.