Experts in the law and finance including top government officials have highlighted the significant role of law in engendering economic prosperity for Nigeria.
This is just as the federal government reiterated that the tax reform bills currently before the National Assembly would have a multiplier effect on the economy.
This emerged during the 15 years anniversary lecture for T & A Legal held in Lagos on Saturday.
Delivering her keynote address on the topic titled” Driving the Future Economy in Nigeria, the Catalytic Role of Law”, the Minister of State for Industry, Trade and Investment, Dr Jumoke Oduwole, noted that she was proud to be associated with the milestone achievement of the firm, adding that the feat speaks to the power of vision.
Oduwole noted that the federal government would continue to create an enabling environment and laws that would support investment retention and promotion, thereby engendering prosperity for the people.
Citing an example of the tax reform bills currently with the National Assembly, she said such bills would have a multiplier effect on the economy once they are passed.
“We believe very strongly that unless you support businesses operating in Nigeria, of which this firm is one, we really wouldn’t get more investment necessary to catalyse our economy,” she added.
She explained that the FG would leverage trade policy to drive more investments into the country.
She said FG is determined to operationalise AFCFTA in a way that it would help Nigeria trade across Africa and the rest of the world.
Also speaking at the occasion, the Chairman of Federal Inland Revenue Service, Dr Zachaeus Adedeji, stated that law serves not just as a regulatory mechanism but as a tool for enabling innovation, fostering inclusion, and unlocking the nation’s vast resource.
Adedeji stated that efficient, fair, and transparent tax laws not only empower governments to provide essential infrastructure, education, and healthcare but also foster compliance and build a sense of shared responsibility.
Emphasising that the tax reform bills represent more than just fiscal policy changes, he noted that implementation of the reform underscores a commitment to equity, inclusion, and the creation of a tax system that works for all Nigerians.
The Co-Founding Partner, T & A Legal, Seyi Adisa, described the 15 years milestone achievement of the firm as a celebration of vision and commitment of the founders, which have contributed to its current status.
