In a move seen as dogged by the Federal Government of Nigeria, the Nation's Economic Council, chaired by Vice President Yemi Osinbajo has implemented more than 140 reforms to make doing business in Nigeria easier.
Speaking at the 2nd Presidential Enabling Business Environment Council (PEBEC) Awards 2019 held at the State House Banquet Hall on Wednesday in Abuja, the Vice President was quoted as saying that he was delighted to celebrate the phenomenal successes of the PEBEC reforms and recognition of those who made it all possible.
“Our incredibly selfless and committed private sector partners and the sterling performance of many in the public sector; in the past three years, Nigeria has implemented more than 140 reforms to make doing business in Nigeria easier.
“Some of the successful reforms include the ability to reserve a business name within four hours. “Complete the registration of a company within 24 hours online. “Apply for and receive approval of a visa-on-arrival electronically within 48hrs. “File and pay taxes online, and access specialized small claims commercial courts in Lagos and Kano
Supporting the claims of the Vice President, the World Bank in a report in 2018 noted that 32 states of Nigeria improved their Ease of doing business. The report listed the states as Kaduna, Enugu, Abia, Lagos, and Anambra."
Prof Osinbajo disclosed that the goal for 2019 is to move Nigeria into the top-100 on the 2020 World Bank Doing Business Index (DBI). He revealed that in achieving that, Nigeria would be pursuing the continued implementation reforms across all indicators. He listed the indicators to include; implementation of legislative reforms, specifically the passage of the new Companies and Allied Matters Act and the Omnibus Bills.
The vice president listed others as the expansion of the regulatory reform program started with NAFDAC and NAICOM to include other regulators; the establishment of a National Trading Platform for ports; and the concession of our major international airports. “PEBEC has now commenced the fourth 60-day National Action Plan (NAP 4.0) on Ease of Doing Business. “NAP 4.0 is running from the 1st of March to the 29th of April, 2019.
It aims to deepen the reforms delivered over the past 3 years and drive institutionalization. He said that other areas of reforms were enhancing efficiency in the small claims court, and enhancing the application and approval system for visas on arrival, to mention a few.
According to him, the council will continue to work extensively with all MDAs, the National Assembly and other key stakeholders.
In her address, Coordinator PEBEC and Senior Special Assistant to the President on Industry Trade and Investment, Dr Jumoke Oduwole, said the award was to appreciate Ministries, Departments, and Agencies(MDAs) which had contributed in the implementation of PEBEC mandate.
She said that the reforms were aimed at reducing bureaucratic bottlenecks and improves perceptions about Nigeria’s business environment.
