President Muhammadu Buhari has approved the establishment of Presidential Council on Ease of Doing Business to remove red tapes and other impediments associated with investment in the country.
The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this on Saturday, in Lagos State, at the 2016 Tony Elumelu Foundation Entrepreneurship Forum.
The minister said the council would help to facilitate easy registration of businesses, clearing of goods from the ports, obtaining visa, paying taxes, obtaining land titles, among others.
He said that the government took the decision to encourage old and new entrepreneurs to bring in more investments into the country.
Mohammed said the administration was also taking measures to reduce fiscal and foreign exchange imbalances, boost dollar liquidity, curb inflation, lower interest rate and ensure lending to real sector.
He noted that the Buhari administration was moving the country away from a mono-product economy to a diversified one, and in the process opening up great opportunities for businesses.
“With the crash in oil prices, which has negatively impacted on our economy, we are left with no choice but to explore new possibilities.
“The areas we are targeting include agriculture, solid minerals and the creative industries. We are also engaging in massive infrastructural development,” he said.
He said agriculture is first plank of the economic diversification and revival strategy and the government is encouraging local production of rice, maize, sorghum, millet and soya beans for self- sufficiency.