Nigerian Parliament Pushes Business-Friendly Reforms, Courts Global South Investors

The Nigerian Parliament has reiterated its commitment to opening up the nation’s economy under President Bola Ahmed Tinubu’s Renewed Hope Agenda, with legislation focused on improving the ease of doing business, tax reforms, and incentives to attract foreign investment.

Chairman of the House of Representatives Committee on Foreign Affairs, Hon.

Hon. Oke, who represents Obokun/Oriade Federal Constituency of Osun State on the platform of the All Progressives Congress (APC), explained that the Nigerian Parliament has been passing laws that support President Tinubu’s reforms, particularly those designed to create a more business-friendly environment and drive foreign direct investment. He emphasized that Nigeria, with a population exceeding 250 million, provides a vast market and numerous opportunities across multiple sectors.

He also used the platform to rally support for Nigeria’s quest for a non-permanent seat on the United Nations Security Council, stressing that Nigeria’s role as a continental leader makes it a worthy candidate.

The Osun lawmaker further invited Chinese investors to explore Nigeria’s expanding opportunities in key sectors such as aviation, energy, and agriculture. He highlighted Nigeria’s diverse energy resources—including solar, hydro, wind, and coal—as a foundation for technological advancement and increased investment.

“Our parliament has been supportive of reforms that ease business operations. China already has one of the largest numbers of companies operating in Nigeria at both national and sub-national levels, but we want to see more investment in critical sectors,” he said.

Hon. Oke also called for a cooperation model among Global South nations anchored on mutual respect, equal partnership, and shared benefits, with an emphasis on the free movement of goods, services, and people. He noted that Nigeria has already signed agreements to promote such integration within Africa, including visa-free arrangements for Chinese diplomats.

He further urged the Global South Assembly to go beyond political discussions and focus on economic growth, trade, technology transfer, clean climate initiatives, and shared prosperity.

“I encourage us to view the Global South not only as a political alliance but also as a platform to deepen economic ties, transfer technology, promote climate-friendly policies, and secure prosperity for our people,” he said.

The summit in Urumqi brought together legislators from across the developing world to deliberate on strengthening cooperation and advancing the common interests of member nations.