FG moves to attract, retain investments with enabling laws, policies

Jumoke Oduwole, minister for industry, trade and investment, says the Federal Government is committed to the continued creation of enabling laws and policies meant to retain and promote investment as well as engender prosperity for Nigerians.

Oduwole made this known in a keynote address entitled, ‘Driving the Future Economy in Nigeria, the Catalytic Role of Law,’ during the recent 15 Years Anniversary Lecture of T & A Legal, adding that Federal Government would leverage on trade policy to attract more investments into the Country.

“We believe very strongly that unless you support businesses operating in Nigeria, of which this firm is one, we really wouldn’t get more investment necessary to catalyze our economy,” she said.

According to her, Federal Government is determined to operationalise AFCFTA in a way that it will help Nigeria trade across Africa and the rest of the World.

Zachaeus Adedeji, chairman, Federal Inland Revenue Service (FIRS), said efficient, fair, and transparent tax laws would not only empower Governments to provide essential infrastructure, but would also foster compliance and build a sense of shared responsibility.

According to him, the role of law is not just as a regulatory mechanism but as a tool for enabling innovation, fostering inclusion, and unlocking the nation’s vast resources.

He further emphasised that the tax reforms bill represents more than just fiscal policy changes.

Akintunde Oyebode, Commissioner for Finance, Ekiti State, said using the law to drive the current economy in Nigeria might not achieve the desired expectations unless there would be a rethink on fiscal federalism.

“Economic growth and development are predicated on policy consistency. Anyone seeking to invest in a business environment should be assured of a level of policy consistency totally unaffected by change of government or administration,” he said.

Seyi Adisa, co-founding partner, T & A Legal, in his welcome address, described the 15 years milestone achievement of the firm as a celebration of vision and commitment of the founders, which had contributed to its current status.

“We believe that the law is not just a set of rules but a vital instrument for shaping policies, driving innovation, and ensuring a stable and thriving economic environment,” he added.

Ayobami Tunde, managing partner, T & A Legal, on his part, stressed the need for Government to engage and educate the general public, especially micro, small and medium-scale enterprises (MSMEs) on efforts being made by the Government to promote trade and investment.