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FG’s business environment reforms show new Nigeria is possible- Osinbajo

Vice President at the 5th PEBEC Awards in Abuja. Photos: State House

The Federal Government under President Muhammadu Buhari has made significant efforts in improving the business environment in Nigeria through the implementation of ease of doing business reforms, Vice President Yemi Osinbajo, SAN has said.

Prof. Osinbajo however said more needs to be done in the coming years to deliver a shared prosperity for all.

A statement by the Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, Laolu Akand says the Vice President stated this at the 5th Presidential Enabling Business Environment Council (PEBEC) Awards, held at the Statehouse, Abuja.

The Vice President is the Chair of PEBEC, an inter-Governmental and inter-Ministerial Council established by the President in 2016, to improve the business environment in the country.

Highlighting the far-reaching reforms implemented by the PEBEC since its inception, Prof. Osinbajo noted that PEBEC “has achieved the delivery of over 180 reforms and completed 7 National Action Plans geared towards improving the Nigerian business environment.

“These successes are anchored on the collaboration among all stakeholders.  And we must all appreciate the efforts of our tireless civil and public servants. What we have seen over the last five years is a pointer to the possibilities for a new Nigeria.”

‘’Nigeria has improved an aggregate of 39 places in the World Bank Doing Business index since 2016. The country was also twice named as one of the top 10 most improved economies in the world as a result of the activities of PEBEC”, he said.

Prof. Osinbajo further noted that improving the business environment in Nigeria was a continuous process because of “a challenging business and trading environment for domestic and foreign investors operating in Nigeria.

And a difficult business environment always means fewer investors, fewer jobs and less opportunities for all,” he said.

Award Presentation

Some of the awards presented at the event which was highlighted by music and dance performances included the Most Improved Agencies for 2022 Executive Order 01 Compliance, which was won by the Nigerian Investment Promotion Commission (NIPC). The Federal Inland Revenue Service (FIRS) and Nigeria Agricultural Quarantine Service (NAQS) came second and third respectively.

Similarly, the Nigeria Content Development and Monitoring Board (NCDMB) won the Most Compliant Agencies for 2022 Executive Order 01 (compliance), with the Executive Secretary, Mr. Simbi Wabote in attendance to receive the award. The Standards Organisation of Nigeria (SON) and Federal Competition and Consumer Protection Commission (FCCPC) came second and third respectively.

The Nigerian Electricity Regulatory Commission (NERC) was honoured with the award for “the completion of the Enforcement of Order 172 on timeline to complete new connection to the grid,” while the World Bank Group (WBG) Nigeria Country Office, received the Impact Awards for Development Partner Institution.

At the presentation of Nigeria Subnational EoDB Awards, Gombe State won the 1st Position for Inaugural Subnational Report 2021, while Jigawa and Sokoto were second and third.

Post Humous Award certificates were also presented to the Comptroller, Tariff & Trade, Nigeria Customs Service, Anthony Ayalogu; and the Deputy Director & Zonal Coordinator (Kebbi, Sokoto & Zamfara), Mr. Adamu Kudu.

Also, the Vice President was presented with the inaugural PEBEC ‘The Catalyst’ Award, given to the VP in recognition of being the most impactful, dedicated and consistent supporter of the implementation of the Ease of Doing Business reforms in Nigeria.

According to the Special Adviser to the President on Ease of Doing Business, Dr. Jumoke Oduwole, Prof. Osinbajo “went over and above the call of duty in the course of supporting the delivery of reforms for MSMEs operating in Nigeria, making it an easier place to start and grow a business.”

Writing by Annabel Nwachukwu