Reps to amend obsolete laws to attract local, foreign investment

The House of Representatives Committee on Monitoring, Evaluation, and Implementation of Legislative Agenda says the house is amending obsolete laws to attract local and foreign investments in the country.

The Chairman of the Committee, Rep. Patrick Umoh (APC-Akwa Ibom), who addressed newsmen on Friday in Abuja, said that there was a compelling need for diversification.

He said that the focus was on a green, blue, and digital economy to better position the country for investment that would drive youth employment, wealth creation, and an improved standard of living.

The lawmaker said that in order to secure the confidence of investors, the parliament had made laws, allocated funds in the budget, and carried out intensive oversight to ensure the security of lives and property.

“As the people’s house, we are looking at those areas of our laws that are obsolete and that can be updated to assist investors, local and international, who are willing to do business in our country so we can improve the gross domestic product of our country.

“I can assure you that we are committed, as the people’s house, to concerns affecting the Federal Republic of Nigeria.

“I can assure you that we are just one year in office, but we are very committed as the people’s house towards the welfare of our country.

“And apart from the Appropriation Act, there are other enabling enactments that can assist in that direction, and as the house, we are working towards ensuring that we do our best to help Nigerians,” he said.

The legislator, who represents Ikot Ekpene, Essien Udim, and Obot Akara in the Federal Constituency, urged all stakeholders to support the house in its quest for a better Nigeria.