Presidency Considers New Business Reform Bill

Presidency Considers New Business Reform Bill

The Nigerian-British Chamber of Commerce - Presidency Considers New Business Reform Bill
Business & Economy October 16, 2020

The Presidency says it is considering a new bill to boost the different initiatives to transform Nigeria’s business climate.

It is also aimed at consolidating and institutionalising the gains of interventionist programmes under the Presidential Enabling Business Environment Council (PEBEC).

Special Adviser to the President on Ease of Doing Business, Dr. Jumoke Oduwole said the essence of an omnibus bill on business facilitation was to institutionalise the reforms to ease implementation and sustain the efforts made by PEBEC so far.

“Nigeria’s rating on the global scale of ease of doing business improved in 2018 and 2019,” she said.
According to her, the gains were recorded after the implementation of over 140 reforms by PEBEC between 2016 and 2019.

Oduwole added: “The Enabling Business Environment Secretariat (EBES), an arm of the presidency driving the reforms, had in 2017, sought and got the approval of PEBEC to adopt an omnibus bill as a legislative tool for business climate reform in Nigeria.”

The presidential aide said “the bill is now being reopened for review and further inputs” as a number of the provisions earlier included in the draft have been addressed by the Financial Act 2019 and Companies and Allied Matters Act (CAMA) 2020.

According to her, similar legislation was adopted by Georgia in 2005 when the country amended at least 30 legal documents.

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