Nigeria implements 150 reforms to improve business environment, says Industry Minister

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” The Presidential Enabling Business Environment Council (PEBEC),through its secretariat and collaboration with the private sector, has successfully implemented over 150 reforms to make business easier for Micro, Small and Medium Enterprises.”

Niyi Adebayo, the Minister of Industry, Trade, and Investment, stated this at the Lagos Chamber of Commerce and Industry 2020 Presidential Policy Dialogue Webinar, weekend.

He said that the SMEs accounts for 90% of registered businesses in Nigeria and contribute nearly 50% of the economy GDP.

The Minister spoke on the Benefits and Challenges of investing and doing business in Nigeria.

“During the webinar, I addressed specific investor concerns on security, infrastructural deficits and policy instability,” he said via his Twitter handle.

Other Efforts

“We have also created the One Stop Investment Centre(OSIC), to facilitate and sustain investments in the country through speedy resolution of investment complaints and issues.

“Additionally, we set up a Business Investment Forum (BIF) to sensitize potential foreign investors on the Ease of Doing business initiative in Nigeria, ” he added.

Essence of the Policy Dialogue

Mrs. Toki Mabogunje, President of LCCI,  said that the reasons the Chamber organised the policy dialogue  are to underscore the need for regular engagements and communication on policy issues to ensure quality feedback and enrich the policy making process.
She noted that some of the issues for dialogue are cross cutting, while others are sector specific.

“These include foreign exchange policy, Trade policy, Tax policy, Energy policy, transport policy, Industrial policy, Agricultural policy, ICT policy, among others.

“Regular engagement with relevant stakeholders in the various sectors will bring a great deal of value to the economic management process.  The regulatory environment also needs to align with this vision.  This policy dialogue is our contribution to this process,” she said.

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