Hi, good people of Nigeria, we are happy to welcome you to this week’s edition of the Inspiring Country Actions Series.
As you know, this is the segment of the Rebrand Nigeria Campaign that highlights Government’s policies that are changing the image of our country among the comity of nations.
In this edition, we are showcasing the “Ease of Doing Business Policy”of President Muhammadu Buhari’s administration.
To be able to create more jobs, reduce unemployment among the Nigerian population and to increase our GDP, President Muhammadu Buhari established the “Presidential Enabling Business Environment Council (PEBEC)” in 2016 and charged it with the mandate to minimize the constraints that come with registering and running businesses in the country.
The news of this creation was a relief to many, especially those in the business community, including SMEs considering the fact that many business initiatives have been abandoned in the past during the process of incorporating them.
In 2017, as part of the plan to improve Nigeria’s business climate, the Nigerian Immigration Service (NIS) reviewed the requirements for Nigerian visas to make them more customer-friendly.
Between 2016 and 2019, Nigeria’s ranking in the ease of doing business climbed 15 places up to 131 out of 190 countries globally in a report released by the World Bank in 2020. This implies that our country’s regulatory environment is more conducive for starting, operating and expanding local businesses; compared to other countries below it.
Today, Nigeria is being considered as one of the 10 best performing economies in the world. This is because the government has made starting businesses in the country easier by developing a system that integrates both the Federal Inland Revenue Service (FIRS) and the Corporate Affairs Commission (CAC) platforms.
The Presidential Enabling Business Environment Council said it has more plans to deliver sustainable economic growth and improvement of businesses across the country. This means that the Government will deliver more polices that will continue to improve the ease of doing business in Nigeria.
According to the PEBEC’s Secretary, Jumoke Oduwole, “We are committed to more engagement between reforms implementing organs of government and the private sector players. We are happy to see that this has resulted in a more favorable validation of the reforms by the private sector. The council is focused on delivering even more substantive reforms for the improvement of the general business climate.”
For us at the #UgwumbaLeadershipCenter, we salute President Muhammdu Buhari for this policy that has improved the business sector. No wonder there is an explosion of new businesses, including SMEs across the country.
Great Nigerians, may we know how this policy has benefited you?
This campaign is powered by the Ugwumba Center for Leadership Development in Africa.