Fidelity bank banner UBA banner
Passage of CAMA by Senate a lifeline to small businesses: LCCI boss

By Mayowa Okekale, Abuja on 25/05/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 469

•Senate plenary
•Senate plenary

President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Paul Ruwase, has lauded the passage of the Companies and Allied Matters (CAMA) Act amendment Bill by the Senate, and said the development will greatly boost and increase the viability of small businesses in the country.

Ruwase gave the commendation when he led other executive members of the Chamber on a courtesy visit to the President of the Senate, on Thursday.

The LCCI boss noted that the passage of the CAMA amendment Bill is a major step towards enhancing the business environment in the country.

He noted that the Bill, when signed into law, would reduce the burden of reporting obligations for small businesses, reduce time and cost of setting up a company and also facilitate the transition of many informal sector players to the formal sector of the economy.

He said that the amendment is timely in view of present economic realities as the country cannot “afford a static legislation in a dynamic business and economic environment.”

Ruwase further stated that the beauty of a legislation lies in how well it is aligned with contemporary realities and thanked the President of the Senate for the “efforts of the Red Chamber in promoting private sector development and for collaboration.”

“The fact that your Excellency has a private sector background has brought a lot of value to the content and processes of legislation,” he added.

In his remarks, the President of the Senate, Dr. Abubakar Bukola Saraki, thanked the LCCI and its members for their contributions to the nation’s economic growth.

He noted that the 8th Senate has been keen on working with the private sector to improve the nation’s economy and business environment right from its inception in 2015.

He said that the Senate with the collaboration of major players in the private sector had identified a number of critical laws that required urgent review to improve the ease of doing business in the country, most of which have now been passed and signed into law.

“This is a Senate that is very pro-business. We believe that our role as a government is to create enabling environment that will allow businesses to thrive.

“Even in the area of infrastructure, our focus has been on how we can pass laws to enable private sector participation. With our reforms in railways, ports and road construction and maintenance, we hope that the private sector will play a bigger role with the bills we have passed.

“There are some bills that are still pending like the Investment and Securities bill where there is a major amendment that we hope to pass very soon. We are also looking into the reform of the Stock Exchange to make it more attractive and also in line with global best practice,” he said.

Saraki said the aim of the Senate is to strengthen the economy and be able to provide jobs for the youth through legislation.

Source News Express

Posted 25/05/2018 11:43:36 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Ekiti Assembly approves N19.6bn loan for Fayose

Buhari will rescue remaining Dapchi schoolgirl from Boko...

Air Peace to operate first all-female flights on...

Stakeholders support TETFund’s sponsorship of First Class graduates...

Ohanaeze demands immediate release of Senator Abaribe by...

Lagos Govt. takes custody of defiled toddlers

Dangote still keen to buy Arsenal despite rejection...

Rights group casts doubts on PSC N375.5m fraud...

Ugwuanyi canvasses robust response to disasters

Umahi charges Senior Technical Assistants and Technical Assistants...

INEC rules out electronic voting in 2019

MOSOP condemns the killing of polytechnic lecturer

 

Latest News 40 killed in Kaduna Nnamdi Kanu’s reappearance, the beginning of Biafra’s independence — IPOB Be wary of Agatu girls, LG boss warns NAF personnel Unpaid Pensions: 900 Nigeria Airways retirees die Atiku’s Campaign Council: Umahi denies rejecting appointment Fayose won't be intimidated, ready to defend himself in court — Aide Viral Video: NANS gives Buhari 7-day ultimatum to probe Ganduje Anambra Building Collapse: Last trapped victim dies after rescue Lebanese jailed, forfeits $52,550, €32,250 to FG Why Abia women prefer fairly-used underwear Osinbajo declares Bayelsa flood a major disaster •Dickson calls for collaboration to resettle victims Alleged 2.1bn Fraud: Charge Dasuki for money laundering not me, Dokpesi tells court

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (407,640 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,904 views) Shameless Genevieve Nnaji exposes breasts in public (315,243 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (258,005 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,808 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,594 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,373 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,827 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,590 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (166,053 views) Lagos plane crash: Journalist releases victims’ names (161,704 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,469 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (69) Business & Economy (3,696) Business Verdict (52) Columnists (948) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (660) Global Business Monitor (304) International (2,547) Interview (165) Live Commentary (28) Love Matters (145) News (39,754) Opinion (1,125) Pidgin (13) Politics (7,304) Religion (881) Sports (1,733) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement