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Business regulatory framework launched amid N22.6 trillion investments in Nigeria

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Vice President of the Federal Republic of Nigeria, Senator Kashim Shettima
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The Vice President of Nigeria, Senator Kashim Shettima has launched Nigeria’s Regulatory Impact (NRI) analysis framework conducted by the Presidential Enabling Business Environment, which revealed a total investment of $15 billion or N22.6 trillion from 51 companies operating in the country.

The launch which was done at the 2nd round table meeting has shown that PEBEC already has 180 verifiable business projects, a laudable testament to its mandate.

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The Vice President was represented by the Deputy Chief of Staff, Sen. Ibrahim Hadeja, who said PEBEC was established in 2023 to oversee the Nigerian business environment and remains a top priority of President Bola Ahmed Tinubu’s government.

Addressing the national and international stakeholders at the Banquet Hall of the Presidential Villa in Abuja, the newly appointed Director General of the Presidential Enabling Business Environment (PEBEC) Princess Zahrah Mustapha Audu, while presenting the recent survey conducted on foreign investors operating in Nigeria thanked the immediate past Director General and Minister of Trade and Investment for doing a remarkable job in the ease of doing businesses in Nigeria.

She said, the moment marked a pivotal one in the collective journey to building a globally competitive, prosperous, and inclusive Nigeria. One where investors and businesses thrive, innovation flourishes, and regulations are clear.

The Director General said, to move PEBEC from the point where it is, it was imperative to recall the Council’s core mandate which is removing obstacles and create friendly business environment for investors through policy formulation.

She said: “The Presidential Enabling Business Environment Council was borne out of a process in need to address long-standing obstacles to doing business in Nigeria. The Council’s core mandate has been clear and unwavering to remove the constraints to doing business and to foster a business-friendly climate through legislative, administrative, and policy-driven reforms.

PEBEC SURVEY REPORT 2025 edit (1)

“Over the years, PEBEC has delivered over 200 board reforms across various sectors. As we chart our way forward in 2025, our focus would still be around our six strategic, workstreams, each of which have been crucial in sustaining the progress that PEBEC has made to date.

“Today’s launch of the Regulatory Impact Analysis Framework, which is the core mandate of our regulatory reforms, exemplifies our commitment to creating a robust and predictable regulatory environment. This framework will ensure that all the new regulations undergo comprehensive assessment to evaluate the economic, social, and environmental impact, minimizing unnecessary hurdles on businesses while safeguarding public interests.

“Our effort at the subnational level through the State Action Plans for Enabling Business Reforms, SABR program, continues to set a new benchmark for state-level performance. With $750 million, in funding support co-designed with the World Bank, SABR incentivizes states to implement reforms that directly impact SMEs, create jobs, and attract investment.

“Public-private dialogue remains key for us, as our reforms are only as effective as their implementation and perception. Through strategic engagements like today’s forum, we are building trust, ensuring stakeholders are ahead, and sharing Nigeria’s progress with global business communities.

“Your Excellency, distinguished guests, foreign direct investment remains the lifeblood of any emerging country seeking for rapid growth, job creation, and technology transfer. FDI is particularly crucial for Nigeria as we embark on this journey to diversify our economy, reduce our reliance on oil revenue, and unlock the full potential of our human capital, and natural resources.

“However, to attract FDI, we must retain our existing investors. We must continue to streamline our regulatory processes. However, to attract and retain FDI, we must continue to streamline our regulatory processes.

“With the launch of the RIA Framework, we are creating a predictable, transparent, and business-friendly regulatory environment that minimizes complexity and complexity. client’s hurdles.

“By collaborating with local and international institutions, we can bridge the infrastructure gap to enhance productivity and reduce the cost for doing business. PEBEC will continue to catalyze these changes, working closely with stakeholders across government, business, and civil society to ensure that Nigeria becomes the investment destination of choice in Africa.”

Speaking for their various States, the governor of Enugu State, Peter Mbah, his Benue State counterpart, Rev. Father Hyacinth Alia and the Deputy Governor of Osun called on investors to look the way of their States, pointing out that there were investment opportunities available across all sectors.

Both Alia and Mbah reeled out measures their States have put in place to ensure safety of investors and their citizens, noting that their arms are open to receive foreign investors partnering their administration to advance the cause of subnational development.

The launch which was well attended has the Executive Governor of Benue State, the Deputy Governor of Osun State, the Central Bank Governor, the Vice Chair of PEBEC, and the Honorable Minister of Industry, Trade and Investment, the Honorable Minister of Science and Technology, the Executive Secretary of NIPC, Heads of Departments and Agencies, Presidents of Business Councils and Chambers here present, Captains of Industry, Members of the Diplomatic Corp in attendance.

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