NBA-SBL lauds new Business Facilitation Act

The Nigerian Bar Association Section on Business Law (NBA-SBL) leadership has expressed its satisfaction with the news of the signing of the Business Facilitation Bill into law by President Muhammadu Buhari.
The group is proud to have played a part in the project’s success, working alongside several public and private sector organizations to identify and remove bureaucratic constraints and bottlenecks to doing business in Nigeria.
Over forty law firms were mobilized on a pro bono basis to review existing laws in collaboration with the Presidential Enabling Business Environment Council (PEBEC), the Enabling Business Environment Secretariat (EBES), and the Nigerian Economic Summit Group (NESG). The NBA-SBL team, led by Folasade Olusanya and Jibola Olomola, also supported PEBEC/EBES in legislative advocacy at the national assembly for the Business Facilitation Bill.
The group has expressed its gratitude to PEBEC for the opportunity to contribute and has stated that the Business Facilitation Act, 2023, is a significant step forward that will further improve Nigeria’s business environment and attract more foreign direct investment to the country. With the signing of this bill, Nigeria continues to demonstrate its commitment to creating a conducive environment for business operations in the country.
Adeoye Adefulu, Chairman NBA-SBL, expressed his gratitude for the opportunity to have worked on the ground-breaking Business Facilitation Act 2023, which reformed and amended various pieces of legislation that have hindered the ease of doing business in Nigeria. According to him, “the NBA-SBL is committed to improving the environment for doing business in Nigeria. We are grateful for the opportunity to have worked on the ground-breaking Business Facilitation Act 2023, which reformed and amended pieces of various legislations that have hindered the ease of doing business in Nigeria”.
He also commended the past chairs of the NBA-SBL- Olumide Akpata, Seni Adio SAN & Ayuli Jemide, whose leadership ensured the NBA-SBL delivered on this assignment. He noted that “the success of the project is a testament to the benefits of public-private sector collaboration, and the NBA-SBL looks forward to working with other agencies to improve Nigeria’s business environment”.
Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business, expressed her appreciation for the efforts of the NBA-SBL through the participation of over forty law firms and consulting firms. She noted that the project “is a culmination of nearly five years of collaboration between public and private sector stakeholders”.