The House of Representatives has restated its commitment to transparency, inclusiveness and people-oriented legislation aimed at driving Nigeria’s economic growth and institutional reform.
The Chairman of the House Committee on Commerce, Mr Ahmed Munir, committed to a public hearing on ten bills in Abuja.
He said that the House remains focused on ensuring that every proposed law reflects the genuine needs of Nigerians.
He explained that the bills under consideration span multiple sectors of the economy, with provisions to establish new professional regulatory bodies, amend outdated laws, and strengthen the operational capabilities of existing institutions for greater service delivery.
“A critical look at these bills shows that both the legislature and the executive have the interest of the citizens at heart. Some of these bills, if passed, will create regulatory institutions that ensure professionalism, accountability, and efficiency across various sectors,” Munir stated.
Among the notable bills deliberated on was the Bill for an Act to Establish Climate Resilient Commerce in Nigeria (HB. 2206), which seeks to create a framework for promoting sustainable economic growth and reducing the vulnerability of Nigerian businesses to climate-related risks.
Mr Munir noted that the proposed legislation aligns with global efforts to mitigate climate change impacts and will position Nigeria to take advantage of international partnerships and incentives tied to environmental sustainability.
“The importance of synergy between the legislature and the executive toward good governance and human capital development cannot be overemphasised. Bills like this will help moderate potential damage, reduce long-term risks, and enable us to benefit from global and local opportunities associated with climate change mitigation.”
The Committee considered ten bills at the hearing, including those seeking to establish or amend professional and regulatory bodies such as the Chartered Institute of Nigerian Universities Professional Administrators, the Institute of Chartered Biochemists and Molecular Biologists, the Chartered Institute of Mortgage Bankers and Brokers, the Chartered Institute of Entrepreneurship Consultants, and the Chartered Institute of Enterprise Risk Management of Nigeria.
Also listed were amendments to the Nigerian Export Promotion Council Act and the National Institute of Marketing of Nigeria Act 2003, as well as bills to strengthen risk management and financial analysis practices in Nigeria.
The Chairman said the essence of the public hearing was to provide a platform for citizens and stakeholders to express their views, thereby enriching the legislative process with diverse perspectives.
Read Also: Senate Swears In Two New Senators From Edo, Anambra
The lawmaker commended President Bola Ahmed Tinubu’s administration for stabilising key economic indicators, including achieving a 3.9% annual GDP growth and improving revenue mobilisation.
He described these achievements as signs that “the bleeding has been stopped,” adding that the next phase should focus on translating macroeconomic progress into tangible benefits for ordinary Nigerians.
“This requires expanding social protection schemes, ensuring transparency in public finance, tackling food insecurity, and addressing inflation and trade barriers.”
He emphasised that the 10th Assembly remains a People’s Parliament, committed to openness, inclusivity, and national interest. He recalled that the House recently conducted nationwide hearings on constitutional amendments, underscoring its dedication to participatory governance.
He urged participants to be constructive and concise in their submissions, assuring them that all contributions would be considered in shaping final recommendations.
Meanwhile, the Chartered Risk Management Institute of Nigeria (CRMI) has opposed the proposed establishment of the Chartered Institute of Enterprise Risk Management of Nigeria by the National Assembly, describing it as a duplication of existing institutions with identical mandates.
In a memorandum submitted to the House Committee on Commerce, the Registrar of CRMI, Mr Victor Olannye, said the bill seeking to establish the new institute overlaps with the functions of the already existing Chartered Risk Management Institute of Nigeria.
“Upon careful review of the bill, we wish to draw the Committee’s attention to certain issues surrounding the proposed legislation, specifically its overlap with existing laws and its implications for the integrity of the legislative process,” Mr Olannye explained.
He said that the 9th National Assembly had already passed the Chartered Risk Management Institute of Nigeria Act No. 39 of 2022, which was duly assented to by the President and gazetted, thereby conferring legal status on the Institute.
“The Act comprehensively governs and promotes the practice of risk management in Nigeria, including professional certification, regulation, and the advancement of the profession,” he said.
He pointed out that the primary objective of the proposed Chartered Institute of Enterprise Risk Management of Nigeria, to control and promote the practice of risk management, is already fully addressed by the 2022 Act.
He therefore urged the Committee to consider dropping the bill, noting that allowing it to progress would “contradict existing legislation (Act No. 39 of 2022), create legal and institutional conflicts, undermine the principle of avoiding duplication and redundancy in laws, and weaken the credibility and authority of the legislature’s previous actions.”
Other stakeholders also made contributions to the bills.