• Saturday, April 20, 2024
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BusinessDay

PEBEC commences 90-day ‘regulatory reform action plan’ to bolster Nigeria’s business environment

Every Nigerian business must understand the regulatory terrain- Dr. Jumoke Oduwole, Special Adviser to the President on PEBEC & Investment

The Presidential Enabling Business Environment Council (PEBEC) Secretariat has commenced a 90-day regulatory reform accelerator action plan in furtherance of its commitment to deliver impactful reforms necessary to foster a conducive business environment in Nigeria.

According to Jumoke Oduwole, Special Adviser to the President on PEBEC and Investment, the 90-day accelerator is expected to deliver measurable export-focused impact for productivity and competitiveness across key sectors to improve the Nigerian business environment and support the economic initiatives of the government.

“The 90-day regulatory reform accelerator aligns with the PEBEC’s Regulatory Reforms Workstream, focusing on eight key indicators designed to deliver measurable growth across industries while institutionalizing MDA-led reforms through BFA 2022 compliance.

“There is a need to approach the next 90 days with a sense of urgency and purpose to rapidly improve Nigeria’s business climate by collaborating with the private sector and demonstrating commitment to the overall wellbeing of Nigerians, particularly in these challenging times,” she said.

Oduwole in a statement issued to BusinessDay, disclosed that the reform action plan is accompanied by performance tracking mechanisms such as fortnightly performance tracking meetings and a highly anticipated town hall meeting slated to be hosted by His Excellency the Vice President in the second quarter of 2024.

The eight key indicators which are being monitored over the next 90 days, according to her include: review and update on MDA service level agreements, tracking MDA transparency reforms, tracking MDA efficiency reforms, and atracking entry & exit (Airport) reforms.

Other indicators are tracking port operations reforms, facilitating national single window projects, Agroexport reforms and manufacturing for export reforms. “The plan will be implemented in close collaboration with stakeholders, and the PEBEC will provide regular updates on the Accelerator’s progress.

“The Presidential Enabling Business Environment Council (PEBEC) was established in July 2016 by the Federal Government to oversee Nigeria’s business environment intervention and is a top priority of His Excellency, President Bola Ahmed Tinubu GCFR, in line with the 8-point renewed hope agenda of this Administration.

“The 3rd cohort of the Council was inaugurated on November 16 2023 with 24 members from all arms and levels of government, and is chaired by His Excellency, Vice President Kashim Shettima,” she said.