Senate passes Bill establishing Chartered Institute of Entrepreneurs

The Bill for an Act to establish the Chartered Institute of Entrepreneurs to Regulate and Control the Practice of Entrepreneurship and for related matters passed third reading in Senate on Thursday.

The bill was sponsored by Sen. Ibrahim Gobir (APC-Sokoto).

Presenting a report before its passage, the Chairman Senate Committee on Establishment and Public Service, Sen. Emmanuel Paulker, said the bill was read for the first time on Nov. 15, 2015.

He added that the bill passed second reading on Nov. 30, 2016 and passed to the committee for further legislative action.

The bill seeks to make provision for technical and professional skills for both emerging and existing entrepreneurs.

It also aimed at evolving a reliable databank and information service system for resourceful operation of the small scale enterprises as well as ensuring better educated, more courageous and vibrant entrepreneurs.

When assented to, the bill will also facilitate stronger cooperation between owner or managers and stakeholders such as banks, insurance institutions and government agencies, among others.

It will further facilitate greater involvement in the promotion of international business with high level of competitiveness at the market level.

It will also empower and support teachers and instructors of entrepreneurship education in both senior secondary and tertiary institutions via specially packaged trainings, meetings, exhibitions, industrial exposures and other platforms.

In his remarks, the President of the Senate, Dr Bukola Saraki, put the bill through a voice vote and it was unanimously adopted and passed.