Oduwole’s Reappointment As Presidential Aide Excites Investors

Investors have commended President Bola Ahmed Tinubu for re-appointing Dr Jumoke Oduwole as special adviser to the president on Presidential Enabling Business Environment Council (PEBEC) and Investment.

 They said the appointment signalled Tinubu’s commitment to continuity in enhancing the business environment in Nigeria.

Oduwole, a senior lecturer in international law at the University of Lagos (UNILAG), held the position in the previous administration. His reappointment was announced on Monday.

However, her portfolio has been expanded with the addition of investment to her duties, which she will continue to discharge in the Office of the Vice President. She will also continue to serve as the secretary of PEBEC, which is chaired by the vice president.

The investors, economic experts and other key stakeholders described her appointment as plausible, insisting it demonstrates the president’s determination to boost the economic sector.

A Kano-based investor, Mohammed Abdulahi, said of the appointment: “It shows Mr. President’s adherence to the principle of continuity considering Dr. Oduwole’s excellent performance.” He continued: “PEBEC was one of the shining lights of the previous administration. We all saw how active the council was in addressing issues constraining business and investment in this country.”

Another investor, Herbert Ibekwe, an importer, said Nigeria has become a better place for investment with state government and relevant agencies of the federal government competing to improve their activities to make the environment for business friendlier to investors. 

“Which investors want to be trapped in bureaucracies in your country when other countries are offering a variety of incentives?” he asked, saying: “They will go to neighbouring countries, and your country’s economy would be the worst for it.”

With Oduwole in charge of PEBEC, Nigeria moved up an unprecedented 39 places in the World Bank’s Doing Business rankings and was twice recognised as a top ten reformed economy in three years. This led to Nigeria significantly improving its position on the Global Enabling Business Environment Index over the past eight years.

It would be recalled that PEBEC during the period also introduced innovative ideas that spurred states and other subnational entities to improve their performances to make the Nigerian environment more business-friendly for local and international investors.

Evidence of Dr Oduwole’s international acceptance of her performance was her appointment as a Senior Fellow at the Harvard University Kennedy School of Government Mossavar-Rahmani Center for Business and Government, USA.  In 2022, she was invited to serve as a Governance Advisor to the Massachusetts Institute of Technology (MIT) Gov/Lab Governance Innovation Initiative based on her proven track record as a champion of innovation in governance.