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Senate tasks Buhari on investments protection across Nigeria

The Senate President, Ahmad Lawan, has urged the President Muhammadu Buhari-led Federal Government to prioritise the safety and security of private sector investments across Nigeria.

He explained that prioritising the protection of investments across the country, the initiative would guarantee an improved economy Nigerian and would also take a lot of youth off the street as there would be several employment opportunities.

Speaking during plenary on Wednesday after the upper chamber considered the enactment of the Public-Private Partnership Regulatory Commission Bill 2021, the lawmaker said that such move by the apex government would spurred interest of foreign investors into choosing Nigeria as destination of choice.

According to him, once the investors are sure that the government would protect their interests and investments, committing their resources into the country won’t be a problem as they would have guarantee of a friendly business environment with right policies.

“Let me say that our country at this point and, indeed, at any point, should embark on public private partnership to ensure that we free our scarce resources for social development, particularly education and health, and similar sub-sectors.

“I believe that at this point in our history, with very limited resources, we need to encourage the private sector to participate in the development of infrastructure in our country,” Lawan was quoted as saying in a statement by his Special Assistant on Press, Ezrel Tabiowo.

On his part, the representing Kebbi Central, Muhammad Aliero, who sponsored the bill which scaled second reading during plenary, argued that the inadequate protection of investments had been stalling Nigeria’s economic growth.

Aliero, while justifying the bill, said, “One of the major challenges affecting the growth of the Nigerian economy is the huge deficit in both the areas of social and economic infrastructure; roads, railway, seaports, and airports, the provision of affordable health care and medical facilities to mention a few.

“To bridge this gap, massive investments must be made in the expansion of the country’s infrastructure services well beyond the resources and capacity of the government, which has been solely responsible for the provision of such infrastructure.”

The bill after scaling second reading was referred by Lawan to the Committee on Works, who was given four weeks to report back to the chamber in plenary.

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