By Abigail Philip David
The Federal Government, through the Presidential Enabling Business Environment Council (PEBEC), has launched a regulatory policy framework aimed at improving Nigeria’s business environment and boosting foreign direct investment (FDI).
The launch, held at the State House Conference Hall in Abuja, was part of the “Regulators’ Forum” and was attended by key government officials, including the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, who represented President Bola Tinubu. Others in attendance included the Central Bank Governor, Olayemi Cardoso; permanent secretaries; industry leaders; and representatives from chambers of commerce.
Speaking at the event, Senator Hadejia reaffirmed the Federal Government’s commitment to creating an investor-friendly environment. He emphasized that PEBEC remains a key priority for the Tinubu administration under its Renewed Hope Agenda.
“Since its inception, PEBEC has implemented over 180 verifiable business reforms, thanks to the collaborative efforts of stakeholders. The launch of the Regulatory Impact Analysis Framework marks a major step toward aligning regulatory actions with economic goals and making Nigeria a more attractive investment destination,” Hadejia said.
PEBEC’s Vision for a Competitive Nigeria
Princess Zahrah Mustapha Audu, the Director-General of PEBEC, highlighted the council’s achievements, including over 200 reforms aimed at removing obstacles to doing business in Nigeria. She described the newly launched Regulatory Impact Analysis Framework as a game-changer for ensuring that all new regulations are assessed for their economic, social, and environmental impact.
“This framework will reduce unnecessary hurdles for businesses while safeguarding public interests. Our goal is to create a transparent and predictable regulatory environment that attracts investments and fosters economic growth,” Princess Audu explained.
She also emphasized the importance of state-level reforms, noting that the State Action Plans for Enabling Business Reforms Program, supported by $750 million from the World Bank, is designed to encourage states to implement reforms that support SMEs, create jobs, and attract investments.
State-Level Commitments
Governor Hyacinth Alia of Benue State called on investors to explore opportunities in agribusiness, highlighting the state’s fertile land, water resources, and favorable climate. “Benue is ideal for investments in soybean production, grains, livestock farming, and agro-processing. We are working to streamline processes and provide incentives to attract investors,” he said.
Similarly, Governor Peter Mbah of Enugu State outlined an ambitious economic growth plan targeting a 27% annual growth rate over the next six years. He stressed the importance of private sector investments in achieving this vision.
“Investment is the lifeblood of our growth. We are implementing policies and frameworks to ensure ease of doing business in Enugu, making it a prime destination for investors,” Mbah said.
Commitment to Economic Growth
The Tinubu administration, through PEBEC, reiterated its dedication to fostering an enabling environment for businesses and investors. Princess Audu concluded the event by calling for sustained public-private partnerships to ensure effective reform implementation.
“We aim to position Nigeria as the preferred investment destination in Africa. By working together, we can create a thriving business environment, attract investments, and drive economic growth that benefits millions of Nigerians,” she stated.
The event underscored the Federal Government’s efforts to enhance Nigeria’s economic competitiveness and attract much-needed foreign investments across various sectors, particularly agriculture, manufacturing, and technology.
