The Federal Government has announced the successful conclusion of the Presidential Enabling Business Environment Council (PEBEC)’s 120-day Regulatory Reform Accelerator (RRA) Action Plan, designed to improve Nigeria’s business climate. This was revealed during a Town Hall Meeting held at the State House Banquet Hall in Abuja, hosted by Vice President Kashim Shettima.
The meeting saw the participation of prominent figures including Governor Inuwa Yahaya of Gombe State, various ministers, heads of over 50 federal government agencies along with their reform teams, representatives from the organized private sector, and other key stakeholders.
Taiwo Ajetunmobi, the Senior Special Assistant to the President of PEBEC, presented the RRA action plan report, highlighting significant strides made across several areas. The reforms focused on eight key indicators, including:
– Transparency reforms
– Efficiency reforms
– Entry and exit (Airport) reforms
– Port operations reforms
– National single window project facilitation
– Agro-export reforms
– Manufacturing for export reforms
Ajetunmobi noted that a major component of the reforms was the review and updating of service-level agreements. Impressively, ten out of thirty-six Ministries, Departments, and Agencies (MDAs) achieved over 75 percent success in implementing these reforms.
Established in July 2016, PEBEC aims to oversee interventions to enhance Nigeria’s business environment, elevate the country’s global business rankings, attract foreign investments, and drive sustainable economic growth.
The conclusion of the RRA action plan marks a significant milestone in PEBEC’s ongoing efforts to make Nigeria a more attractive destination for business and investment. As the country continues to implement these reforms, the anticipated improvements in the business environment are expected to foster increased economic activities and growth.
