Buhari to review laws hindering growth

President Muhammadu Buhari has said the government would review obsolete laws that were hindering growth in many sectors.
The aim of the such reviews, he said, was to promote efficiency in the management of the nation’s economy.
He also agreed to partner with meaningful organisations, including the Institute of Chartered Accountants of Nigeria (ICAN), to ensure rapid development of the country.
President Buhari made the resolve when he received executive members of ICAN led by its President, Mr Rasaq Jaiyeola, at the State House, Abuja.
“In the past three years, this administration has worked hard to enhance the transparency and efficiency of public sector financing through the Treasury Single Account.
“We have also introduced policies that are improving the business environment.
“We have implemented projects that had assisted young entrepreneurs.
“We will also continue to review obsolete laws that are hindering growth in many sectors,’’ he said.
He stated that, in the present circumstances, all hands must be on deck to ensure Nigerians work towards an inclusive, diversified and sustainable future.
The president, who congratulated ICAN for the recently concluded 48th Annual Accountants’ Conference appropriately themed “Securing our Shared Future: A Collective Responsibility’’, noted that the communique of the conference talked about environmental issues facing the nation.
He said: “It is very clear to all of us that climate change and environmental challenges are major threat to the peace and prosperity of our nation and its citizens.
“In the Niger-Delta region, man-made environmental problems have adversely impacted the livelihoods of the inhabitants. Farmers and fishermen in particular have seen their means of livelihood destroyed.
“Our assessments have shown it will take decades to reverse this damage.  But we have made a start. With or without international cooperation, we are starting to clean up our degraded areas, beginning with Ogoni.
“In the North Central region, we are also seeing a significant increase in farmer herdsmen clashes. This trend, which is recurring in many West and Central African nations is as a result of desertification.’’
Buhari stated that the nation had continued to witness unpredictable rain patterns resulting in significant floods across the riverine communities.
He lamented that these floods had destroyed hundreds of homes and farmlands.
“As Chartered Accountants, your knowledge of environmental and sustainability business practices is critical.
“You have a responsibility to ensure your clients, in both the public and private sectors, prioritise environmental sustainability in their operations,’’ he said.
The president, who thanked ICAN for its support and guidance, said he would direct the Economic Management Team to review and address the concerns raised by the Institute with a view to implementing its recommendations.
“Be rest assured that we will continue to partner with prestigious institutions like ICAN for the development of this nation,’’ he said.
The ICAN President, Jaiyeola, noted with delight that the Buhari administration had made giant strides in fighting corruption and improving the economy.
He said: “Government has made giant strides in this direction. Fighting corruption is really at the front burner of President Muhammadu Buhari’s administration and it is acknowledged all over the world.
“We believe the government has tried and will continue to grow in strength in that direction.’’
Jaiyeola said ICAN had introduced some measures that would help strengthen and sustain the fight against corruption.
“We have introduced a number of measures in our Institute as regards fighting corruption in this country.
“We have recently introduced ICAN accountability index which is a way of assessing public finance management practices in Nigeria.
At the end of the day this will introduce measure that will improve performance of the government and the economy as well block loop holes as regards fighting corruption,’’ he added.