OGUN ASSEMBLY AMENDS INVESTMENT PROMOTION AND FACILITATION AGENCY LAW - AMEBO ONLINE NEWSPAPER

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OGUN ASSEMBLY AMENDS INVESTMENT PROMOTION AND FACILITATION AGENCY LAW

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Ogun State House of Assembly has passed the State Investment Promotion and Facilitation Agency (Amendment) Law, 2022 meant to give the deserved recognition and boost the confidence of investors in its implementation in line with the international best practices in investment management and allied matters. 

According to the lawmakers including Kemi Oduwole, Kunle Sobukanla and Sola Adams who took turn to contribute to the bill, the amendment was necessary to specify the appointment procedure of the proposed agency's Chairman.

They stated that the bill when passed would give more official recognition to the investors, with a view to achieving optimum performance in the course of the agency's operations.  

The passage of the bill title: "H.B. No. 078/OG/2021- A bill for a law to amend the Investment Promotion and Facilitation Law, 2022" was passed at a plenary presided over by the Speaker, Olakunle Oluomo at the Assembly Complex, Oke- Mosan, Abeokuta. 

The passage of the bill followed a motion for the  amendment moved by Hon. Kemi Oduwole, seconded by Ganiyu Oyedeji, thereafter which the bill was read and adopted clause by clause before the Committee of the Whole House. 

Consequently, the Majority Leader, Yusuf Sheriff moved the motion for the third reading of the bill, seconded by Hon. Abdul Bashir Oladunjoye, leading to the third reading of the bill by the Clerk and Head of Legislative Services, Deji Adeyemo before the lawmakers. 

Responding, Speaker Oluomo noted that the amendment would provide more legal backup for the agency, as investors would be assured of the involvement of the State Governor in all the activities of the agency in addition to the need to reflect the new change of nomenclature of some ministries earlier mentioned in the bill. 

He thereafter directed that that the clean copies of the bill be transmitted to the State Governor, Prince Dapo Abiodun for his assent.

Earlier the Speaker has lauded the Governor for the turn around of facilities in the Olabisi Onabanjo University, Sagamu alongside other health initiatives being put in place by the State Government.

He gave the commendation, while responding to the remarks of a member representing Ijebu- Ode State Constituency, Hon. Oduwole, who acknowledged the testimonies of one of his constituents on the impressive medical care recently received at the facility.

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