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FG repeals laws that hamper private sector investments

Remi Babola
Remi Babola

By Oscarline Onwuemenyi
The Minister of State for Finance, Mr.  Remi Babalola, disclosed on Tuesday that the policy agenda of the Federal Government would bring succour to the socio-economic crises in the Niger Delta.

According to a release signed by the Special Assistant on Communications to the minister, Mr. Oluyinka Akintunde, Babalola further stressed that government was determined to realize its 7-Point Agenda and the Vision 20:2020 agenda of positioning Nigeria among the top 20 largest economies in the world.

The minister also confirmed that laws, which had hitherto hindered private sector investments, have been either amended or repealed for orderly divestment of government’s shareholding to private operators in vital areas of the economy such as mining, transportation, electricity, telecommunications, petroleum and gas and petrochemicals.

Babalola, who was the special guest of honour at a book launch held at the Southern Sun Hotel, Ikoyi, Lagos, stated that the strategic reforms adopted by the government in various sectors of the economy were aimed at meeting the aspirations of Nigerians. The book titled Kill Your Own Goliath was authored by Mr. Tunde Onadele.

The minister said, “We have adopted reform strategies that are realistic, quality driven, knowledge-based and time-bound, so that the outcomes will surpass the aspirations of all Nigerians.

“The determination of this government is to ensure that whatever policy option we have envisioned in the agenda is implemented in the overall interest of our country. Thus, the strict pursuit of the 7-Point Agenda will widen opportunities that would inevitably deliver on the 20:2020 Vision.

“The realisation of the key Agenda items in the short and medium-term involves addressing the challenges of the critical infrastructure gap, bringing succour to the chronic socio-economic crises in the Niger Delta, achieving enhanced human capital development, ameliorating the inadequacies of our food sector, implementing land tenure and home ownership reforms aimed at freeing the wealth in our land resources, addressing the challenges of national security and creating a conducive environment for wealth creation.”

He pointed out that major reforms have been implemented in the areas of taxation, public service, pension, insurance, capital market, banking, public expenditure, the judiciary and telecommunications, which are all critical to national development.

The minister added that a lot of investment incentives had been put in place by the government to stimulate private sector investments from within and outside the country.

He commended the author for the book which he described as a rich material on business management and leadership.
“The business and leadership issues raised in the book by Mr. Onadele are critical to both individuals and institutions in the public and private sectors. The issues of commitment, discipline, hard-work, vision, passion and motivation are universal and cut across individuals, organizations, and even nations.

“They are relevant to the attainment of individual success, as well as that of a nation.

Indeed, the desire to aspire to greater height is a universal phenomenon, and a major concern for individuals, nations, organisations and communities,” Babalola said.

Onadele explained that the book was about his personal life experiences, lessons, successes, challenges, failures, mentorship and milestones garnered in his career spanning over 26 years.

He stated that the book was aimed at inspiring and motivating present and future leaders to learn the basic principles of management and leadership required for career development and successful life.
The author stressed the importance of hard-work, patience, vision, commitment, discipline and uprightness as the major building blocks of a successful life.


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