FG assures investors of stable business environment

The Federal Government has assured investors of providing a stable business environment that will promote predictability for seamless and profitable businesses. Vice President, Kashim Shettima, who said this at the 2nd Presidential Enabling Business Environment Council (PEBEC) roundtable, described the meeting as a critical tool that will facilitate a collaborative platform for stakeholders engagement. The […]

The Federal Government has assured investors of providing a stable business environment that will promote predictability for seamless and profitable businesses.

Vice President, Kashim Shettima, who said this at the 2nd Presidential Enabling Business Environment Council (PEBEC) roundtable, described the meeting as a critical tool that will facilitate a collaborative platform for stakeholders engagement.

The even also witnessed the launch of the Nigeria’s Regulatory Impact (NRI) Analysis Framework which was held in Abuja Wednesday.

VP Shettima said the launch of the NRI would drive measurable impacts for productivity and competitiveness across key sectors to improve the Nigerian business environment and support the economic initiatives of the government.

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The Vice President commended the “first of its kind $750m Performance for Result State Action Enabling Reform, a federal programme co-designed by the federal secretariat and the World Bank to improve the business environment activities at the sub-national level.”

Shettima, who was represented by the Deputy Chief of Staff, to the Vice President, Sen. Ibrahim Hadeija, said the round table would provide the local and international investors opportunity to foster discussions that would make Nigeria a more attractive destination for business and investments.

He said the round table would through robust participation of the stakeholders, transform Nigeria regulatory landscape to enhance Nigeria global competitiveness.

He said the presidency was proud of the 180 verifiable projects which has come through the Presidential Enabling Business Environment Council (PEBEC).

Speaking to the stakeholders on their important role at the launch of the NRI the newly appointed Director General of the Presidential Enabling Business Environment Council (PEBEC), Princess Zahrah Audi said the survey conducted by the council to provide a reliable policy direction for a stable business environment revealed three top concerns that would be immediately addressed.

According to her, stakeholders wanted a predictable environment for businesses to thrive while they look forward to expanding their business presence in-country as they identify Taraba and FCT as top choices for business locations.

The launched Nigeria’s Regulatory Impact (NRI) Analysis Framework document revealed a total investment of $15 billion or N22.6 trillion from 51 companies in the country.

Governor of the Central Bank who was also present at the event said the he can assure the businesses that following the reforms going on in the sector, banks would be more interested in funding g the productive sector of the economy.

His words: “I am also pleased that with the foreign exchange market becoming more buoyant and more transparent, sparing some illicit flows being pushed out of that market, it now forces the banks to do really get down banking businesses optimistic , that going forward, we will see more interest in banks funding the productive activities.