Buhari approves a bill to make doing business easier
The Business Facilitation (Miscellaneous Provision) Bill 2022 has been signed into law by President Muhammadu Buhari, the Presidential Enabling Business Environment Council (PEBEC) announced on Monday.
In December 2022, after passing both the Senate and the House of Representatives, Buhari signed the legislation as the administration continued its business-friendly changes in Nigeria.
The Business Facilitation Act of 2023, sometimes referred to as the Omnibus Act, was promoted by PEBEC to clear up any obstacles to doing business in the nation.
Jumoke Oduwole, President Buhari’s special adviser on ease of doing business, said in a statement on Monday that the act, which was written as an executive bill, also resulted in the alteration of 21 laws pertaining to business.
As it fosters an enabling environment, the act is anticipated to benefit micro, small, and medium-sized enterprises (MSMEs) in Nigeria.
“It is the result of more than four years of collaboration between public and private sector stakeholders, including the attorney general of the federation and the federal ministry of justice, the Nigeria Bar Association section on business law with the involvement of more than 40 law firms and consulting firms, the Nigerian Economic Summit Group (NESG), and the national assembly business environment roundtable (NASSBER),” Oduwole said.
Oduwole, who doubles as PEBEC secretary 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.”