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Reps support repeal of export Prohibition legislation

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Reps support repeal of export prohibition legislation

The House of Representatives on Wednesday passed the bill which seeks to repeal the Export Prohibition Act.

The bill co-sponsored by Hon. Mohammed Tahir Monguno and Hon. Benjamin Kila scaled through second reading sequel to overwhelming support exposed from members.

In his lead debate, Hon. Mohammed Tahir Monguno stated that the Bill seeks to ensure the diversification of the Nigerian economy away from oil and ensure the exploration and development of other resources to become exportable goods.

The lawmaker urged members to support the drive as it is set to develop many sectors including the agricultural and processing sectors among others.

He called for the repeal of the Act as it currently exists, due to the fact that it is a disadvantage to would-be entrepreneurs.

Speaking in favour of the bill, Hon. Nicholas Ossai noted that the Bill for the multiplier effect on the development of varying sectors of the economy, which is sure to improve trade, foreign relations and exchange.

He also stated that the value chain of many products will also be harnessed by the full implementation of the Bill.

While expressing his view, Hon. Nkem Abonta who supported the passage of the bill, urged that the law restricting export will shortchange the nation, hence should be repealled expeditiously.

However in his submision, Hon. Sada Jibia opposed the Bill as he argued that the ban on excessive export was to ensure food security.

He stated that the export promotion council was there to ensure the proper export is being supported.

On his part, Hon. Yusuf Gagdi also called for balance and caution in the outright repeal of the existing Act as to ensure the fear of threatening food security in Nigeria is not realized.

In his remarks, Hon. Akin Alabi supported the Bill as it seeks to support the development of small and medium industries which would help generate employment and wealth diversification.

While ruling, Speaker of the House of Representatives, Hon. Femi Gbajabiamila referred to the House Committee on Commerce for further legislative action.

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