Following the earlier passage of the Business Facilitation (Miscellaneous Provision) Bill 2022 by the House of Representatives and the Senate, the National Assembly has now transmitted the bill to President Muhammadu Buhari for assent.
Making the announcement in a statement on Thursday, the Special Adviser to the President, Ease of Doing Business/PEBEC Secretary, Dr Jumoke Oduwole, said the bill is designed to strengthen ongoing reforms and consolidate legislative provisions that border on ease of doing business in Nigeria.
She said the Business Facilitation Bill aims to codify Executive Order 001 (EO1) on Transparency and Efficiency in Public Service Delivery, amend select business facilitation laws identified as critical to the ease of doing business in Nigeria, and institutionalise business climate reforms.
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“The transmitted bill is a culmination of 4 years of collaboration of public and private sector stakeholders since 2018, including the Federal Ministry of Justice (FMoJ), the Section on Business Law of the Nigerian Bar Association 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).
“The omnibus bill is an intervention of the Presidential Enabling Business Environment Council (PEBEC) to consolidate and amend legislative provisions towards deepening PEBEC reforms and removing bottlenecks for Micro, Small, and Medium-sized Enterprises (MSMEs) in Nigeria.
“The business community eagerly looks forward to the bill being signed into law by President Muhammadu Buhari in order to reap the attendant benefits for the Nigerian economy,” she added.
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