The Vice-President of Nigeria, Prof. Yemi Osinbajo, has said that the Federal Government, under the leadership of President Muhammadu Buhari, has “implemented more than 140 reforms to make doing business in Nigeria easier”.
To lend some credence to his claim, the VP quoted a World Bank 2018 report which says that “32 states of Nigeria improved their Ease of doing business environment.”
In a statement shared, this morning, on his Twitter account, Osinbajo added that Nigeria’s goal, however, was to make the 2020 World Bank Doing Business Index (DBI) top-100 list.
The Full Statement:
In the past three years, Nigeria has implemented more than 140 reforms to make doing business in Nigeria easier The World Bank also reported in 2018 that 32 states of Nigeria improved their Ease of doing business environment led by Kaduna, Enugu, Abia, Lagos and Anambra states.
In 2019, PEBEC set a goal to move Nigeria into the top-100 on the 2020 World Bank Doing Business Index (DBI).
To achieve this, we will be pursuing the continued implementation of reforms across all indicators, including the implementation of legislative reforms, specifically the passage of the new Companies and Allied Matters Act and the Omnibus Bills; the expansion of the regulatory reform program which started with NAFDAC and NAICOM; and now to include other regulators; the establishment of a National Trading Platform for ports.
PEBEC has now commenced the fourth 60-day National Action Plan (NAP 4.0) on Ease of Doing Business. It aims to deepen the reforms delivered over the past 3 years and drive institutionalization of the whole reform process.
We have highlighted key action items in all of the focus areas to ensure that they do not unravel, and to ensure we drive sustainability. NAP 4.0 will focus on initiatives such as enforcing compliance with SLAs across all indicators/focus areas.
Driving the passage of the CAM Bill 2018 for improved effectiveness of company law in Nigeria, enhancing efficiency in the small claims court and enhancing the application and approval system for visas on arrival, to mention a few.
The Council will continue to work extensively with all MDAs, the National Assembly and other key stakeholders.
Let me mention the KPMG Professional Services, Deloitte, Procter and Gamble, Banwo & Ighodalo, Aluko and Oyebode. The NBA-SBL was also particularly instrumental in the drafting of the omnibus bill. About 40 law firms worked pro-bono towards this effort. Our nation is grateful.
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