PEBEC adopts new plan to invigorate business reforms

The Presidential Enabling Business Environment Council (PEBEC) has adopted the National Action Plan 6.0 for the retention of results delivered so far in the Ease of Doing Business reforms in Nigeria.

The meeting which held virtually yesterday was presided over by the Vice President, Prof. Yemi Osinbajo, SAN.

In a statement by the Vice President’s Media Aide, Mr. Laolu Akande, made available to this medium, the Vice President said the plan also aims at attaining the top 70 in the World Bank Ease of Doing Business ranking by 2023.

Some of the new reform initiatives in NAP 6.0, according to the Vice President, will include further reduction in the cost of business registration by simplifying the process and eliminating the need for agents. The impact of this cost reduction would mean reduced burden on MSMEs and substantially increase Nigeria’s score in the global ranking and more importantly improve the business environment.

He said another new initiative is the proposed reduction in the cost of electrical installations and new connections to the grid by eliminating import tariffs, noting that the reduction in cost will lead to more new and affordable connections.

Those in attendance at the PEBEC meeting include Minister of Industry Trade and Investment, Otunba Niyi Adebayo; Minister of Works and Housing, Babatunde Fashola, SAN; Minister of Transportation, Rotimi Amaechi; Minister of Information, Lai Mohammed; Minister of Interior, Ogbeni Rauf Aregbesola; Minister of Communications and Digital Economy, Isa Pantami; Minister of Foreign Affairs, Geoffrey Onyeama; Minister of Police Affairs, Maigari Dingyadi; Minister of the FCT, Mohammed Musa Bello; Head of Service, Dr. Mrs. Folashade Esan, AMAC Chairman, Hon. Abdullahi Candido, among other top government officials.