President Muhammadu Buhari has made significant improvements in the business environment in Nigeria through the implementation of the ease of doing business reforms, but more needs to be done in the coming years to deliver a shared prosperity for all, Vice President Yemi Osinbajo (SAN) has said.
In his keynote speech as special guest of honour at the 5th Presidential Enabling Business Environment Council (PEBEC) Awards, which was held at the State House Banquet Hall, Abuja on Wednesday night, the VP recalled how Buhari in 2016, established the council to improve the business environment in the country.
According to a statement signed by his media aide, Laolu Akande, the vice president is the chair of PEBEC, an inter-governmental and inter-ministerial council established by the president.
Highlighting the far-reaching reforms implemented by the PEBEC since its inception, Prof. Osinbajo noted that PEBEC “has achieved the delivery of over 180 reforms and completed 7 National Action Plans geared towards improving the Nigerian business environment.
“These successes are anchored on the collaboration among all stakeholders. And we must all appreciate the efforts of our tireless civil and public servants. What we have seen over the last five years is a pointer to the possibilities for a new Nigeria,” he stated.
Through PEBEC reforms, Nigeria has improved an aggregate of 39 places in the World Bank Doing Business index since 2016. The country was also twice named as one of the top 10 most improved economies in the world as a result of the activities of PEBEC.
Commending the council for the successful implementation of reforms over the years, the VP noted that “we must all remember that success births success. While we must not rest on our oars tonight, let us take a moment to relish our accomplishments so far and leave here tonight renewed and re- energised for the work that lies ahead.”
The VP observed that “we knew from the on-set that attempting to effect some of the most comprehensive procedural and administrative reforms in our history was going to require time, strong political will and insistence on following the plan.
“We have certainly moved the needle, but the task going forward is to consolidate and advance. That would require in the coming years even greater commitment to following the plan, to departmental accountability for failure to deliver on reforms, and to unwavering excellence.”
Osinbajo noted that improving the business environment in Nigeria was a continuous process because of “a challenging business and trading environment for domestic and foreign investors operating in Nigeria. And a difficult business environment always means fewer investors, fewer jobs and less opportunities for all.”
The VP, who conveyed Buhari’s appreciation to members of the Council and every stakeholder that has made the PEBEC success story possible, recalled that the President had charged the Council “with positively impacting Nigeria’s business environment by removing the bureaucratic constraints being experienced by a large number of stakeholders.”
According to the VP, some of these challenges included removing bottlenecks and obstacles, while delivering the reorientation of regulatory authorities and civil servants who deal with businesses on a daily basis; as well as the significant trust deficit from the private sector towards the government, and correct the pervading negative perceptions, by ensuring that our policies and regulations are enablers to Micro, Small and Medium-sized Enterprises (MSMEs).
Similarly, the Nigeria Content Development and Monitoring Board (NCDMB) won the award for the Most Compliant Agencies for 2022 Executive Order 01 (compliance), with the Executive Secretary, Engr Simbi Wabote in attendance to receive the award. The Standards Organisation of Nigeria (SON) and Federal Competition and Consumer Protection Commission (FCCPC) came second and third respectively.
The Nigerian Electricity Regulatory Commission (NERC) was honoured with the award for “the completion of the Enforcement of Order 172 on timeline to complete new connection to the grid,” while the World Bank Group (WBG) Nigeria Country Office, received the Impact Awards for Development Partner Institution.
At the presentation of Nigeria Subnational EoDB Awards, Gombe State won the 1st Position for Inaugural Report 2021, while Jigawa and Sokoto were second and third respectively.
PostHumous Award certificates were also presented to the comptroller, Tariff and Trade, Nigeria Customs Service (NCS), Anthony Ayalogu and the deputy director and zonal coordinator (Kebbi, Sokoto and Zamfara), Mr. Adamu Kudu.
Also at the event, the vice president was presented with the inaugural PEBEC ‘The Catalyst’ Award, a new category of the PEBEC Awards given to the VP in recognition of being the most impactful, dedicated and consistent supporter of the implementation of the Ease of Doing Business reforms in Nigeria.
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