Vice President Kashim Shettima has called for Nigeria to align its regulatory practices with global standards to enhance the country’s business environment.
This appeal was made during the inaugural Regulators’ Forum of the Presidential Enabling Business Environment Council (PEBEC) held at the Presidential Villa.
Established in July 2016, PEBEC aims to address bureaucratic obstacles and improve the ease of doing business in Nigeria. Shettima, who chairs the council, emphasized the necessity of transparency, trust, and efficiency among regulatory bodies. He urged heads of various ministries, departments, and agencies (MDAs) to streamline operations, eliminate redundancies, and align their efforts with President Bola Ahmed Tinubu’s broader economic objectives.
In a statement issued by the Special Adviser to the President on PEBEC and Investment Jumoke Oduwole, Shettima underscored the critical role that regulatory frameworks play in enhancing Nigeria’s global competitiveness. He stated, “This is a pivotal moment to shape Nigeria’s regulatory future, driving coordination and transparency essential for our economic transformation.”
The forum served as a collaborative platform for regulators to address operational challenges that hinder business operations in Nigeria. Oduwole highlighted that this initiative aligns with national economic goals by fostering a stable and transparent business environment, which is vital for attracting investment and promoting economic growth.
The expected outcomes of this collaboration include an improved business climate, enhanced trust and transparency, and a stronger perception of the ease of doing business in Nigeria. Oduwole noted that the alignment of regulatory practices with global standards is crucial for Nigeria’s economic progress.
