From Moshood Karim
Benin City- On the third day of the Benin Bar 2024 Law Week, Senator Monday Okpebholo, the gubernatorial candidate of the All Progressive Congress (APC) for Edo State, delivered a compelling lecture titled “Challenges of Doing Business in Nigeria: Are they Surmountable if Any”.
The event, themed “Law as a Tool for Economic Advancement and National Security”, was attended by legal luminaries, business leaders, and stakeholders from various sectors.
Represented by Emmanuel Usoh, former Commissioner of Wealth Creation of Edo State, Senator Okpebholo underscored the pivotal role of law in fostering economic growth and ensuring national security. He delved into the multifaceted challenges plaguing businesses in Nigeria, with a particular focus on the environment in Edo State.
One of the key issues highlighted by Senator Okpebholo was the complex regulatory landscape that hampers business operations, especially for small and medium-sized enterprises (SMEs). He criticized the opaque and cumbersome regulatory frameworks that often stifle innovation and growth, citing Edo State’s poor ranking in the Presidential Enabling Business Environment Council (PEBEC) report.
“In Edo State, we have seen how regulatory bottlenecks discourage entrepreneurs and hinder economic progress,” remarked Usoh on behalf of Senator Okpebholo. He emphasized the urgent need for decisive actions to streamline regulations and create a conducive business environment, promising robust reforms if elected governor.
The senator also addressed critical infrastructure deficits such as unreliable power supply and inadequate transportation networks, which significantly escalate business costs and disrupt operations. He cited the challenges faced by Okomu Oil Palm Company PLC as emblematic of broader infrastructure issues affecting the state.
To tackle these challenges, Senator Okpebholo proposed leveraging new constitutional provisions to enhance energy infrastructure through private sector partnerships and sustainable initiatives.
He pledged to prioritize infrastructure development to support economic growth and job creation across Edo State.
Senator Okpebholo lamented the limited access to affordable financing for businesses, noting that only a small fraction of SMEs have access to formal credit. He advocated for inclusive lending practices, alternative financing options, and streamlined tax systems to alleviate financial burdens on businesses and promote entrepreneurship.
The Nigerian Bar Association, Benin Chapter, honored Pastor Barr. Osagie Ize-Iyamu with an award for distinguished service. Pastor Barr. Ize-Iyamu, who also chaired the occasion, was recognized for his longstanding support of the legal profession and his significant contributions to society.
Earlier in the day, Dr. Isaiah Osifo, gubernatorial candidate of the All Progressives Grand Alliance (APGA), contributed to the event with a critical analysis of the pros and cons of the state police policy. He emphasized the importance of upholding the rule of law in any security framework, cautioning against potential abuses by State and federal authorities.
He observed that in a nation where the governors cannot conduct credible Local Government election, State policing cannot work. He recommended that government at all levels should enforce the provision of the constitution to support the current police system to carry out their constitutional mandate.
Dr. Osifo’s remarks underscored the complexities surrounding the issue of state policing in Nigeria, advocating for strict adherence to constitutional provisions to safeguard democratic institutions and ensure effective law enforcement at all levels of government.
