The Business Facilitation (Miscellaneous Provisions) Bill 2022 otherwise known as “Omnibus Bill” which was passed by the House of Representatives will grow the economy and remove bottlenecks for micro, small and medium businesses, when signed into law.
Dr Jumoke Oduwole, Special Adviser to the President, Ease of Doing Business and Presidential Enabling Business Environment Council (PEBEC) Secretary, gave the explanation in statement made available to journalists.
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She also said it will consolidate and amend outdated legislative provisions towards removing bottlenecks for micro, small and medium enterprises.
According to Dr Oduwole, the Bill also seeks to ensure the sustainability of business climate reforms through the promotion of Transparency and Efficiency in government.
“The Business Facilitation (Miscellaneous Provision) Bill 2022, also known as the “Omnibus Bill”, has been passed by the 9th House of Representatives of the Federal Republic of Nigeria” she noted.
She noted that the Omnibus Bill is an intervention of the Presidential Enabling Business Environment Council (PEBEC) aimed at consolidating and amending outdated legislative provisions towards removing bottlenecks for micro, small and medium enterprises.
“The Bill also seeks to ensure the sustainability of business climate reforms through the promotion of Transparency and Efficiency in government” she noted.
“A culmination of 4 years of collaborative work by public and private sector stakeholders in the legal community, Stakeholders are eagerly looking forward to the speedy passage of the Bill by the Senate and its signing into law by President Muhammadu Buhari in order to reap the attendant benefits for the Nigerian economy” reads the statement in parts” she explained.
