The Nigeria Economic Summit Group has named its Centre for Legislative Reform and Economic Growth after former interim president, late Ernest Shonekan.
The NESG established the Ernest Shonekan Centre for Legislative Reform and Economic Growth to bolster collaboration between the private and public sectors in Nigeria.
It emphasized on utilizing legislative instruments, which are laws and regulations created by the government, as a means to enhance synergy between the two sectors.
The NESG said it acknowledged that legislation plays a crucial role in shaping the business environment and economic policies of a country.
By leveraging legislative instruments, the centre aims to create an environment that fosters cooperation and coordination between the private and public sectors, leading to improved economic performance and growth.
In his address, the chairman of the NESG, Niyi Yusuf said “The Centre will address critical issues about competitiveness and sustainability through enhanced synergy between the private and public sectors using legislative instruments.”
He said the Ernest Shonekan Centre for Legislative Reforms and Economic Growth would provide a unique platform for which the three initiatives strategically position the Centre to promote reforms to critical sectors of our economy.
The initiatives are that the centre will act as a platform for the legislature and the private sector to engage, deliberate, and act on a framework that will improve Nigeria’s business environment through a review of relevant legislations and provisions of the Constitution; to chart pathways to subnational economic growth and to collaborate with the National Judicial Institute (NJI) to provide bespoke training for judicial officers.
Niyi Yusuf noted that “the Centre’s key objectives are achieving economic competitiveness and improving the business environment.”
Speaker Oyo State House of Assembly and Chairman Conference of Speakers of State Legislatures of Nigeria at the 29th Nigeria Economic Summit (NES#29), Hon. Adebi Ogundoyin said the launch of the Centre “signifies 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 he noted will serve “as a testament to the acknowledgment of the critical role played by laws and regulations in shaping the economic landscape.”
He said, “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.”
He hailed the vision and dedication of all those involved in the establishment of the centre, adding he has “no doubt that your efforts will yield positive outcomes for our nation.
Ogundoyin said lawmakers across the country, “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. With our thorough understanding of the legislative process, we are prepared to offer our assistance in providing valuable insights, analysis, and recommendations to further the goals of The Ernest Shonekan Centre”.
