Nigeria steps up efforts to improve business environment

The Presidential Enabling Business Environment Council has intensified efforts to improve Nigeria’s business environment with the commencement of the fourth 60-day National Action Plan on ease of doing business.

PEBEC said yesterday that it was committed to delivering reforms aimed at improving the enabling environment for doing business in the country through systemic interventions.

According to a statement, the NAP 4.0, which will run from March 1 to April 29, 2019 aims to further reduce the challenges encountered by Small and Medium Enterprises and businesses in identified areas of focus such as starting a business, getting credit, paying taxes, enforcing contracts or trading within and across borders by eliminating critical bottlenecks and constraints to doing business in Nigeria.

It said the first, second and third NAPs, which were coordinated by Enabling Business Environment Secretariat of the council, had resulted in significant progress over the past three years.

PEBEC said, “Working in collaboration with the ministries, departments and agencies, the fourth National Action Plan is anticipated to strengthen these ongoing reforms, and improve the ease of doing business frameworks adopted.

“Some of the targets achieved in NAP 3.0 include driving registration for utilisation of the National Collateral Registry to facilitate access to credit for SMEs; clearance of all pending NAFDAC registration applications to improve efficiency; and creation of a strengthened single joint cargo examination interface in all airports and seaports for import and export to reduce the time spent at the ports.

The Minister for Industry, Trade and Investment, Dr Okey Enelamah, said the NAP 4.0 had been launched to deepen the reforms delivered and drive institutionalisation.

“We have highlighted key action items in each of the focus areas to ensure the reforms delivered do not unravel, and to ensure we drive sustainability,” he added.

The PEBEC Secretary and Senior Special Assistant to the President on Industry, Trade and Investment, Dr Jumoke Oduwole, said the council would continue to work extensively with all MDAs, the National Assembly and various arms of government on various reforms critical to an enabling business environment.

She said, “For the NAP 4.0, these include targets such as enforcing compliance with service level agreements across all 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.”