Ogun State Signs Investment Promotion Agency into Law

Governor Dapo Abiodun of Ogun State has signed into law a bill to have a “one-stop ease of doing business shop” for investors wishing to establish their businesses in the state.
The bill titled Investment Promotion and Facilitation Agency of Ogun State, 2019, was presented to the Governor for assent by the leadership of the State House of Assembly on Friday.
Three other bills were also signed into law by the Governor. These included Ogun State Legislative Fund Management Law, 2019; the Magistrates’ Court (Amendment) Law, 2019 and the Customary Court (Amendment) Law 2019.
Signing the bills into laws, Abiodun lauded the lawmakers for passing the bills within the first 100 days of the inauguration of the 9th Assembly.
The Governor, further commending the lawmakers for passing three other resolutions, expressed his appreciation for their approving his request for a N1.5 billion loan to facilitate the Anchor Borrowers’ Programme aimed at producing 40,000 agriculture entrepreneurs in the state, noting that such a step would enable the people of Ogun participate actively in national economic growth.

He stressed that agriculture was one of the sectors which his administration intended to revolutionise.
“The Anchor Borrowers’ Programme is one of the programmes under our agricultural sector which is one of the pillars of our vision. We are committed to revolutionise that sector. We see the sector as one that will ensure, apart from food security, employment opportunities for our unemployed youth,” Abiodun said.
“The Central Bank of Nigeria will provide the loan which will be used in assisting the out-growers for clearing the land and other logistics. Our new agriculture entrepreneurs would be provided free seedlings and paid allowances until their first harvest, while we supply the extension services.”
While reiterating that his administration would be inclusive, the Governor said the bills brought forward by the House underscored the lawmakers’ commitment to complement the executive arm of government to deliver good governance to the people.
Earlier, the Speaker of the House, Olakunle Oluomo, said the passage of the bills and resolutions was to mark their 100 days in office and to use the opportunity of signing the bills by the Governor to hold a caucus meeting with him.
“We are marking our 100 days in office after inauguration. To benchmark it, we passed some bills and resolutions and brought them for the governor to sign,” the Speaker stated.
“We have the amendment to the Magistrate Court Bill and the Customary Court Bill. The two are to bring justice nearer to the people so that cases that have up to N250,000 cost can be handled at the Customary Court level.
“The other one is the bill to establish the Ogun State Investment Promotion Agency which is a one-stop shop for ease of doing business in the state. While the last one is the House of Assembly Fund Management Law, which will make the State Assembly accountable for every kobo received from the Consolidated Account,” Oluomo said.

Source: NIPC

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