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Lagos Senator Abiru leads debate on franchise Regulation Bill
By Dayo Badmus,
The Chairman, Senate Committee on Industry Senator Mukhail Adetokunbo Abiru, has led a debate on the Franchise Regulation Bill 2022.
The bill seeks to create a framework for franchise system and guide the relationship between franchisors and franchisees in Nigeria.
This came barely a week after the Senate passed a Bill for An Act To Repeal The Copyright Act C28 LFN 2004 And To Re-enact The Copyright Act 2021, which was partly sponsored by Senator Tokunbo Abiru.
In his argument, the Lagos East Senator averred that it is imperative for the nation to have statute that will regulate the franchise system in the country in accordance with global best practices.
“As part of our efforts to enhance economic development of our great nation, I hereby propose the passage of this Franchise Bill, which basically seeks to create a framework for the regulation of Franchising and to guide the relationship between Franchisors and Franchisees and for Related Matters’’, Senator Abiru urged colleagues.
He argued further that: “Laws enacted by this hallowed Chamber must therefore be directed towards ensuring: the promotion of a planned and balanced economic development; and the material resources of the nation are harnessed and distributed as best as possible to serve the common good”.
