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WE NEED SOLID LEGISLATION TO DRIVE OUR ECONOMY – Onofiok Luke

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The Speaker of Akwa Ibom State House of Assembly, Rt Hon Onofiok Luke has stated the readiness of the 6th assembly to provide the needed framework that would help the present administration to achieve its developmental goals.

Hon Luke made this know today while declaring open a public hearing on the ‘Akwa Ibom State Microfinance and Enterprise Development Agency Bill, 2016’, organised by the joint Committees on Industry, Commerce and Tourism, Appropriations and Finance, Agriculture and Natural Resources and Economic Planning and Development at the Assembly Complex in Uyo.
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According to the Speaker, “in our study of some developing economies all of which succeeded in building a strong middle-class, we found as a house that the legislatures in those economies played vital roles through enacting corresponding laws which drove and sustained growths. As a state which is working in conformity with what will soon be a post-oil economic era, we are determined to play our part to the fullest as lawmakers”.

Continuing, he stressed that the Bill is aimed at promoting widespread establishment of micro, small, and medium enterprises across the state.
“The Bill is aimed at promoting widespread establishment of micro, small, and medium enterprises across the state. The agency which shall be set up by this law will fundamentally harness and incorporate the entrepreneurship activities of these small scale businesses. The desire of both the executive and the legislature is to continue to explore ways like this to encourage entrepreneurship and economic self-reliance. The target is to boost the middle-class and reduce the gap between the economically empowered and the economically less privileged.”
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He maintained that the governor has continued to emphasize on the need for solid legislation in the drive for economic growth and sustainability. “His Excellency, Deacon Udom Emmanuel has always reminded us that for us to attain the target for our economy, three things must be guaranteed – infrastructure, security, and solid legislation. Indeed, these three are the tripod for sustainable economic development.”
Key stakeholders in the state’s SMEs are participating at the hearing and making vital contributions. They include Her Excellency the former first lady of the State, Obonganwan Imo Isemin, who is the Chairperson of the Uyo Chambers of Commerce and Industries.

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