Lagos Assembly: Bill on Ibile Holding Corporation Passes Through Second Reading

The Lagos State House of Assembly has committed a Bill For A Law To Provide For Ibile Holding Corporation into its Committee on Finance after passing through second reading during plenary on Monday.

While committing the Bill into the Committee, the Speaker of the House, Rt. Hon. Mudashiru Obasa faulted the arguments of some lawmakers who felt that the Bill should not be debated since the Attorney General of the state was yet to brief the House about it.

According to him, the Bill seeks to legitimise Ibile Holding that is already existing, adding that it had to be debated by the House so that it could be committed to the necessary committee.

He stated that even if the Attorney General appeared before the House, he would only brief the lawmakers on what had been written in the Bill.

“We have ample time to invite the executive to brief us on the Bill. But we cannot hold on to it because it has become belated; so this is an opportunity to correct the error that had been made.

“The essence of the Bill is to set an investment vehicle in motion for the state and it would be controlled and regulated by the state government,” he said.

The Chairman of the House Committee on Finance, Hon. Yinka Ogundimu had suggested that the Bill should not pass through second reading, saying that the House ought to be properly briefed about the Bill by the Executive.

This was supported by the Deputy Majority Leader of the House, Hon. Olumuyiwa Jimoh and Hon. Olufunmilayo Tejuosho, who emphasised that the executive ought to brief the House about the Bill.

Also, Hon. Sikiru Oshinowo said that the House would be setting a bad precedent if it did not wait for briefing by the Executive before allowing the Bill to pass through the second state.

He added that the due process must be followed in working on the Bill since, according to him, this was an agreement reached by the whole House.

The Chief Whip of the House, Hon. Rotimi Abi rules, however, stated that government is about service delivery and that the Bill must go through second reading despite the fact that the Executive was yet to brief the House about it.

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