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4 Oct 2017

Nigerian Government Releases Action Plan on 'Ease of doing Business'

The All Progressives Congress has launched a fresh economic initiative to encourage the growth of businesses in Africa's most populous nation.
President Buhari
The President Muhammadu Buhari’s administration, through the Presidential Enabling Business Environment Council, PEBEC, has on Tuesday, kicked off the Ease of Doing Business Action Plan as part of its medium term Economic Growth & Recovery Plan, EGRP.

This according to the Presidency, is to build a globally competitive economy.

A statement signed by the Senior Special Assistant to the Vice President, on Media and Publicity, Laolu Akande, and made available to Daily Post, said the new action plan, which will run from 3rd October to 1st December 2017, is expected to further reduce the challenges faced by SMEs when getting credit, paying taxes, or moving goods across the country, among others.

According to the statement, this will be achieved by removing critical bottlenecks and bureaucratic constraints to doing business in Nigeria.

The statement added, “It will be recalled that PEBEC, which is chaired by Vice President Yemi Osinbajo, SAN, had, on 26th September, 2017, approved a second 60-day National Action Plan (NAP 2.0) to drive reforms aimed at making Nigeria a progressively easier place to do business.

“The NAP 2.0 marks the beginning of another reform cycle 2017/2018 which aims to deepen the ease of doing business reforms implemented across the various Ministries, Departments, and Agencies (MDAs) in the last 12 months and will in turn increase productivity through industrialization, enhanced exports and foreign exchange earnings, while creating jobs and reducing poverty.

“A previous 60-day National Action Plan on Ease of Doing Business was approved on February 21, 2017. The National Action Plan contained initiatives and actions implemented by responsible Ministries, Departments and Agencies (MDAs), the National Assembly, the Governments of Lagos and Kano states, as well as some private sector stakeholders.”

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