20171027

Saraki: NASS Working to Increase Private Sector Participation in Economy

President of the Senate, Dr. Bukola Saraki, on Thursday, stated that one of the primary objectives of the 8th National Assembly is to increase private sector participation in all spheres of the economy in order to make the country viable.
Saraki, according to a statement by his Chief Press Secretary, Sanni Onogu, in Abuja, stated this while welcoming the Board of Directors of the United States (U.S.) Chamber of Commerce and the Africa Business Centre (ABC) during their courtesy visit to the leadership of the Senate at the National Assembly.

Other members of the delegation led by the ABC Co-Chair and Chairman of Dangote Group, Alhaji Aliko Dangote, included the U.S. Ambassador to Nigeria, Mr. Stuart Symington, Chairman of Zenith Bank, Mr. Jim Ovia, President of the ABC, Mr. Scott Eisner and several other board members.

The President of the Senate was was joined by Majority Leader, Senator Ahmad Lawan, Deputy Leader, Bala Ibn Na’Allah and 13 other Senators.

Saraki said that the aim of the 8th National Assembly under his leadership is to reduce "government intervention in sectors that traditionally are guided by market forces."

"One of our primary goals is to increase the private sector’s participation in the economy by reducing government intervention in sectors that traditionally are guided by market forces," Saraki said. "This reform will help create more industries needed for job growth and economic stability. To this end, several of the Senate’s priority economic bills are making their way to final passage in both Chambers."

The President of the Senate said that “trade and job creation through trade is a two-way street and that the National Assembly is open to listening to ideas about how to further the cooperation between Nigeria and the U.S. private sector.”

Over the past two years, Nigeria has invested heavily in the agriculture sector as an integral initiative to diversify the economy.

Saraki said that “obviously we have invested too much to change our national strategy. The current challenge is how do we attract investment to grow the industries within the agriculture sector.”

Several members of the delegation thanked the President of the Senate for his leadership on economic reform issues and in undertaking a review for recommendations to enhance Nigeria’s ICT sector.

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