Deputy Speaker of the House of Representatives Benjamin Kalu has called for deliberate economic policies to drive national growth during a meeting with the Presidential Economic Advisory Council and Presidential Foreign Intervention Promotion Council in Abuja.
The delegation was led by PFIPC Director-General Prince Adeniyi Adeyemi.
Kalu emphasized the need for collaborative policy-making, stating, “By working closely with us in the 10th House of Representatives, we can craft robust policies that not only advance our national interests but also promote regional and international peace and prosperity.”
He urged the council to focus on building resilient economies capable of withstanding global fluctuations while fostering strategic international partnerships.
The Deputy Speaker highlighted the importance of the Foreign Investment Protection Act, which ensures equal treatment for foreign and local businesses.
“These efforts are vital as Nigeria seeks to scale its growing economy, projected by the International Monetary Fund to grow by 3.3% this year, despite global headwinds,” he added.
Kalu also noted Nigeria’s recent credit rating upgrade by Fitch Ratings from ‘B-‘ to ‘B’ as evidence of successful reforms, including exchange rate liberalization and fuel subsidy removal.
“The reforms have improved policy coherence and credibility, reduced economic distortions, and significantly lowered near-term risks to macroeconomic stability,” Kalu stated.
He further praised the National Assembly’s passage of four tax reform bills, saying, “I am proud to highlight that the 10th House of Representatives has not only prioritized but also successfully passed four critical tax reform bills. These reforms are designed to broaden our tax base, improve revenue mobilization, and create a more business-friendly environment.”
Prince Adeyemi expressed the council’s commitment to partnering with the National Assembly to achieve President Bola Tinubu’s economic agenda.
“We identified that the National Assembly is a strategic partner in achieving the agenda of Mr. President. That’s why we are here. As the Presidential Economic Advisory Council, we serve Mr. President with evidence-based research on economic policy and implementation. To achieve this, we need the collaboration of the National Assembly,” he said.
Adeyemi also announced Nigeria’s plans to host a World Investment Summit from November 10 to 14, 2025, emphasizing the importance of legislative support to attract foreign investment.
