Bill to establish National institute for Business Studies Nnewi passes first reading

The 2019 establishment bill for National Institute for Business studies Nnewi, as sponsored by the lawmaker representing Anambra South Senatorial District, Senator (Dr) Patrick Ifeanyi Ubah has passed second reading at floor of the senate today.


Below is a statement personally signed by the Senator.

"To the glory of God, today being Wednesday, October 9, 2019, my Bill for the establishment of National Institute of Business Studies Nnewi, Anambra State has passed the first reading with an overwhelming majority of the Senate.

"In line with my vision to consolidate Anambra South’s credential as the commercial and business melting pot of Nigeria, this is a Bill for an act to establish the National Institute for Business Studies Nnewi, Anambra State which will provide full time courses in business studies, technology, applied science, commerce and management; and other fields of studies.


"The bill seeks to make provision for technical and professional business training for both emerging and existing entrepreneurs, as well as ensuring better educated, globally competitive and innovative entrepreneurs. This institute is aimed at instilling positive impacts on the professional and ethical standards of business management which will have a significant impact on emerging entrepreneurs.

"When assented to, the Business Studies Institute will help channel a pathway for rising entrepreneurs by providing full or part time courses of instruction and training in business studies, technology, applied science, commerce and management; as well as other fields of applied learning relevant to the needs of the development of Nigeria in the area of industrial and agricultural production and for research in the development and adaptation of business techniques as the council of the institute may from time to time determine.

"Conclusively, in view of the efforts being made by the Federal Government to diversify the Nigerian economy, the need to encourage business/entrepreneurial education cannot be over emphasized, hence the need to Establish the National Business Studies Institute Nnewi, Anambra. It is therefore my expectation that having passed the first reading, the bill will be read the second time and recommended to the relevant committee for further legislative action.


"Also, yesterday, at the presentation of the 2020 National budget to the National Assembly by President Muhammadu Buhari, the President reiterated the need for the passage of my amendment bill on the Deep Offshore and Inland Basin Production Sharing Contract CAP D3 LFN 2004 Act (Amendment which I sponsored on October 3, 2019.

"My bill subsequently passed second reading on the Senate floor and was referred to the Senate committees on Petroleum(Upstream), Finance and Gas. The committees were directed to report back to the senate in plenary within thirty days."