As LITUATION subnational tour continues in Abuja
The Presidential Enabling Business Environment Council (PEBEC) has launched its fifth accelerator aimed at rapid implementation of reforms for further improvement of the ease of doing business in Nigeria. The NAP 5.0 is the fifth of its kind since the establishment of the PEBEC in 2016 and will run from 5th February to 4th April 2020.
NAP 5.0 was launched by Alhaji Mohammed Bello, Honourable Minister of the Federal Capital Territory, and member of the PEBEC; and Dr Jumoke Oduwole, Special Adviser to Mr President on Ease of Doing Business and Secretary to the PEBEC at the FCT Lituation subnational Ease of Doing Business event which held on February 4, 2020.
On this next phase of reforms, Dr. Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business and Secretary to the PEBEC stated that, “the fifth National Action Plan provides us with another window to deepen and implement business climate reforms for SMEs. As is our custom, the upcoming reforms are being communicated to the public along with the agencies responsible and the expected impact so we can all jointly collaborate and actualise the progress of these reforms.”
Also speaking at the event, the FCT Minister, Alhaji Bello, noted the importance of coordination between federal and subnational reforms in the areas of starting a business, enforcing contracts, obtaining construction permits, and others. He expressed the readiness of his Administration to be a PEBEC case study by making the FCT more business friendly.
The 5th National Action Plan (NAP 5.0) is set to deliver reforms in the following key areas:
- Automation of the land registration process in both Lagos and Kano states, thereby reducing the time for the application process by half.
- Reduce the number of inspections in construction permitting through implementation of joint inspections by related agencies in Lagos.
- Improve the overall time by 48 hours in customs clearance at the ports by implementing full pre-arrival cargo clearance process.
It would be recalled that over the past four years of PEBEC’s operations, Ministries, Departments and Agencies (MDAs), State Governments, the National Assembly and the Judiciary have all implemented reforms, with far reaching impact on the business environment in Nigeria. These reforms have received wide commendations from the private sector, as well as spurred upward movement in Nigeria’s ranking in key indexes such as the World Bank Doing Business index and World Economic Forum Competitiveness Index.
Over the last three years, Nigeria moved up 39 places, from 170 to 131, on the World Bank Doing Business index, and the country was twice recognized as a top 10 most improved economy in the world by the World Bank during the same period.
Some key reforms implemented since 2016 include the automation of companies’ registration by the Corporate Affairs Commission (CAC); facilitating the legal frameworks for the operation of credit reporting bureaus and the use of movable assets as collaterals for loans in Nigeria.
The PEBEC was established by His Excellency President Muhammadu Buhari in 2016 to oversee Nigeria’s business climate reform agenda and is chaired by His Excellency the Vice President, with the Honourable Minister of Industry, Trade and Investment as Vice Chair. The PEBEC model aligns with global best practice and includes a strong performance tracking element to guarantee the delivery of reforms for the benefit of SMEs operating in Nigeria.
Dr. Jumoke Oduwole
Special Adviser to the President on Ease of Doing Business
Secretary, Presidential Enabling Business Environment Secretariat (PEBEC)
February 4, 2020