He added that when concluded, the review would give birth to a new business environment that would boost revenue generation, solve the problem of unemployment, curb social vices and restore national values.
He added that the drop in oil price was a wakeup call for leaders, the private sector and other stakeholders to put measures in place for a post-oil era, while government provided the enabling environment.
He said that the legislature believed in the ingenuity, creativity, entrepreneurship of Nigerians.
The leader of the team of experts from DFID, Prof. Paul Idornigie, said they had examined 54 laws and carried out a comprehensive analysis of 50 bills pending before the two chambers of the National Assembly.
Idornigie said the analysis would help the legislature to focus on some areas that required urgent intervention.
Some of the bills are Federal Competition and Consumer Protection, Federal Roads Authority and National Inland Waterways Authority.
Others are National Roads Funds, National Transport Commission, Nigerian Ports and Harbours Authority, Nigeria Postal Commission and Nigeria Railway Authority Bills 2015.
The team also recommended establishment of a Federal Legislative Clearing House to scrutinise and review bills before they are presented to the respective legislative chambers for first reading. (NAN)