Connect with us
Advertise With Us

NEWS

We Want To Move Nigeria To Top 100 World Business Index – Osinbajo

Published

on

Vice President Yemi Osinbajo has disclosed that the major focus of the federal government is to move Nigeria into the top 100 in the 2020 World Bank Doing Business Index.

Osinbajo, who disclosed this during the 2019 Presidential Enabling Business Environment Council (PEBEC) Awards held at the old Banquet Hall of the State House, Abuja said  in the past three years, Nigeria has implemented more than 140 reforms to make doing business in Nigeria easier.

This is even as the senior special assistant to the President on Industry, Trade and Investment, Dr. Jumoke Oduwole, said states in the country adopted PEBEC model in 2017, adding that five states have been recognised by the World Bank.

Osinbajo said the World Bank also reported in 2018, that 32 states of Nigeria improved their Ease of Doing Business environment led by Kaduna, Enugu, Abia, Lagos and Anambra States.

The vice president said, “In 2019, PEBEC set a goal to move Nigeria into the top-100 in the 2020 World Bank Doing Business Index (DBI).’’

He said that to achieve this, President Muhammadu Buhari-led administration would be pursuing the continued implementation of reforms across all indicators.

The VP said this include “the implementation of legislative reforms, specifically the passage of the new Companies and Allied Matters Act and the Omnibus Bills; the expansion of the regulatory reform program which started with NAFDAC and NAICOM; and now to include other regulators; the establishment of a National Trading Platform for ports; and the concession of our major international airports.”

He said PEBEC has now commenced the fourth 60-day National Action Plan (NAP 4.0) on Ease of Doing Business, adding that NAP 4.0 is running from March 1, to April 29, 2019, and aims to deepen the reforms delivered over the past three years and drive institutionalisation of the whole reform process.

“Let me specially mention the KPMG Professional Services, Deloitte, Procter and Gamble, Banwo & Ighodalo, Aluko and Oyebode. The NBA-SBL was also particularly instrumental in the drafting of the omnibus bill. About 40 law firms worked pro-bono towards this effort. Our nation is truly grateful to you,” he said.

According to Oduwole, in terms of power, road, rail, broadband, airports seaports and other infrastructure “we have ministers working on this round the clock, but this administration for the first time deemed it fit to bolster ease of doing business intervention.

“This includes soft intervention into the national plan and it has a snowball effect because 90 per cent of business in the country are Micro, Small and Medium Enterprises (MSMEs), they also employ 80 per cent of the working population and contribute over 48 per cent to the GDP so if you facilitate things for the MSMEs which is the focus of PEBEC to ensure business thrives in the country.’’

During the awards five states in the country received awards for being top five reformed states in the year ending 2018, the states are Kaduna, Lagos, Abia, Enugu, and Anambra.

Kaduna State improved its score from 55 to 65.97 by making it easier to start a business.

Lagos State improved its score from 48 to 54.90 by making it easier to start a business, register property and obtain construction permits in the state.

Anambra State improved its score from 47 to 53.50 by making it easier to start a business and to register property in the state.

Abia State improved its score from 46 to 53.90 by making it easier to start a business and to register property in the state.

Enugu State improved its score from 47 to 56.82 by making it easier to start a business, register property as well as enforce contracts in the state.

Advertisement

MOST POPULAR

%d bloggers like this: