President Muhammadu Buhari has signed the Business Facilitation Bill, also Omnibus Bill, into law so as to provide an enabling environment for micro, small, and medium-sized enterprises (MSMEs) in the country to thrive
The new law also codifies Executive Order 001 on Transparency and Efficiency in Public Service Delivery, the Administration’s first executive order, aimed at strengthening ease of doing business reforms across the country.
The Bill popularly referred to as the Executive Bill was presented as the Business Facilitation (Miscellaneous Provision) Act, 2023, a legislative intervention by the Presidential Enabling Business Environment Council (PEBEC) which amends 21 businebusiness-related removing bureaucratic constraints to doing business in Nigeria.
Others are the Nigerian Bar Association Section on Business Law through the participation of over 40 law firms and consulting firms, the Nigerian Economic Summit Group (NESG), and the National Assembly Business Environment Roundtable (NASSBER).
Dr Jumoke Oduwole, expressing her delight with the new law said, “The PEBEC Secretariat was delighted to see the Act come into fruition saying it was a culmination of over four years of collaboration between public and private sector stakeholders, including the Attorney General of the Federation, and the Federal Ministry of Justice,
Oduwole added, “We are especially delighted to appreciate the 9th National Assembly for its speedy consideration of this Bill, with immense support from Senator Babajide Omoworare, Senior Special Assistant to the President on National Assembly Matters (Senate) all his efforts.”
The Business Facilitation Act, of 2023 consolidates the last seven years of PEBEC-led reforms and demonstrates the Administration’s sustained commitment to making Nigeria a progressively easier place to start and grow a business.
- FG moves to secure natural resources, as presidential committee meets service chiefs - January 25, 2024
- Kogi govt pays JAMB registration fees for 15,033 public school students - January 24, 2024
- Edo Guber: APC debunks aspirants screening disqualification rumours - January 24, 2024