FG approves ease of doing business bill, seeks N/Assembly consent | Dailytrust

FG approves ease of doing business bill, seeks N/Assembly consent

PEBEC Secretary and Special Adviser to President on Ease of Doing Business Dr. Jumoke Oduwole
PEBEC Secretary and Special Adviser to President on Ease of Doing Business Dr. Jumoke Oduwole

The Federal Executive Council (FEC) presided over by President Muhammadu Buhari has endorsed a bill seeking to make the country’s business environment better suited for business.

The Presidential Enabling Business Environment Council (PEBEC) Secretary and Special Adviser to the President on Ease of Doing Business, Dr. Jumoke Oduwole, said this on Thursday in Abuja.

She said that the Federal Ministry of Justice, the Nigeria Bar Association, the National Assembly Business Environment Round-table and law firms were involved in the process.

According to her, in line with the continuous commitment to improving the business environment in Nigeria through legislative interventions, PEBEC is sponsoring the ‘Business Facilitation (Miscellaneous Provisions) Bill’ otherwise known as the ‘Omnibus Bill’.

“The Omnibus Bill is aimed at amending specific laws relating to ease of doing business and embody such amendments into a single legislation to act as a catalyst for legislative reform of the Nigerian business climate,” Oduwole said.

She said that the proposed legislation aims to amend 23 business-related laws and codify Executive Order 001, which requires Ministries, Departments and Agencies (MDAs) to publish licenses, permits, waivers and approvals.

It will also modify the Companies and Allied Matters Act (CAMA) as well as the law establishing the Nigeria Export Processing Zones Authority (NEPZA) among other statutes.

She said, “The PEBEC is optimistic that the National Assembly’s consideration and anticipated passage of the Omnibus Bill into law in the not-so-distant future will further improve the business environment in Nigeria thereby attracting the much-needed participation and investment from the private sector necessary to actualize the funding objectives of the National Development Plan 2021.

“In 2020, the PEBEC Secretariat invited additional submissions to the Omnibus Bill from both public and private sector stakeholders. These submissions were reviewed by a Technical Committee constituted by the PEBEC Secretariat which included both private and public stakeholders.

“The Omnibus Bill is seeking to amend 23 business related laws in Nigeria and the overall benefits of the Bill include ensuring efficiency in public service delivery in terms of time, cost, and procedure for doing business, improving transparency, removing outdated provisions from relevant laws, and providing incentives to encourage Micro, Small, and Medium Enterprises (MSMEs) participation in business, among other things.”

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410