In line with its resolve to support the ongoing efforts by the government to diversify the economy away from oil, the Senate has reiterated its commitment to remove any form of monopoly that impedes the development of private and public free zones in the country.
Speaking during an inspection of facilities at the Lagos Deep Offshore Logistics (LADOL), members of the Senate Committee on Trade and Investment, led by its chairperson, Senator Fatimat Raji-Rasaki, said the fact-finding tour would enable the senate gather needful information to aid its review of existing laws on free zone.
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Raji-Rasaki, who was accompanied by Senators Effiong Nelson and Yusuf Abubakar Yusuf, disclosed that the senate was committed to the creation of favourable environment that would move the economy of the nation forward by strengthening the laws that govern operation of free zones. This, she noted, will give the players an advantage of performing to the benefit of the nation’s economy.
The Senate Committee on Trade and Investment, according to Senator Effiong Nelson, had already commissioned a team of consultants to work with it in looking at 45 laws that would among other things look at the issue of monopoly and waivers from an all-inclusive view.
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