Nigerian Economic Summit Group (NESG) has launched the Ernest Shonekan Centre for Legislative Reforms and Economic Development with a focus on linking the nation’s legislature with the private sector to define pathways for economic growth.
The chairman of NESG, Niyi Yusuf, said the centre provides a unique platform for the promotion of reforms to critical sectors of the economy. The centre’s key objectives are achieving economic competitiveness and improving the business environment.
The NESG believes that Nigeria is at the precipice; the looming economic crisis and the fragility of the nation’s macroeconomic environment have affected businesses, leading to low productivity, declining foreign direct investments and ultimately economic decline.
“One thing remains certain: our pathway to sustainable economic development can only be achieved by adopting inclusive approaches to strengthen synergy between the public and the private sector.
“This Centre will address critical issues about competitiveness and sustainability through enhanced synergy between the private and public sectors using legislative instruments,” Mr Yusuf said at the unveiling of the centre on the sideline of the just concluded 29th Nigerian Economic Summit.
Speaker of Oyo State House of Assembly and chairman, the conference of speakers of state legislatures of Nigeria, Adebo Ogundoyin said the establishment of the centre is a significant stride towards fostering essential reforms in legislation and regulations, which are pivotal in attaining economic competitiveness and enhancing the business climate.
“The establishment of this institution serves as a testament to the acknowledgement of the critical role played by laws and regulations in shaping the economic landscape. By assuming the role of a change catalyst, The Ernest Shonekan Centre aims to expedite impactful reforms that will unleash the complete potential of our economy and cultivate a favourable milieu for businesses to flourish,” Ogundoyin said.
He said by tackling the hurdles and prospects that await the nation, all hands must be on deck to forge a path towards a more radiant and affluent future.
“In our roles as lawmakers, we acknowledge the significance of making changes to laws and regulations that shape the economic landscape. We are fully dedicated to endorsing endeavours that promote economic attractiveness and business environment,” he stated.
