President Muhammadu Buhari has transmitted the Business Facilitation (Miscellaneous Provisions) Bill 2022 to the National Assembly for accelerated passage.
The President in a letter dated June 17, 2022, addressed to the Speaker of the House of Representatives, Hon Femi Gbajabiamila, explained that the proposed legislation seeks to promote the ease of doing business in Nigeria by amending relevant legislation.
The bill otherwise known as ‘Omnibus bill’ was approved by the Federal Executive Council (FEC) on March 24, 2022.
The proposed legislation seeks to amend 23 business-related laws and codify Executive Order 001, which requires Ministries, Departments and Agencies (MDAs) to publish licenses, permits, waivers and approvals.
It will also modify the Companies and Allied Matters Act as well as the law establishing the Nigeria Export Processing Zones Authority (NEPZA) among other statutes.
According to the World Bank report on Ease of Doing Business in 2020, Nigeria emerged 131 out of 190 countries, moving up 15 places from the 146th position it occupied the previous year, or 56.9 per cent point score.
The Deputy Speaker, Hon Idris Wase, who read the President’s communication said: “Pursuant to Sections 58(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), I forward herewith the Business Facilitation (Miscellaneous Provision) Bill 2022 for the kind consideration of the House of Representatives.
“The Business Facilitation (Miscellaneous Provision) Bill 2022 seeks to promote the ease of doing business in Nigeria by amending relevant legislation. While hoping that this submission will receive the usual expeditious consideration of the House.”
A similar bill passed by Mauritius Parliament and signed into law in 2019 showed that 29 Legislations and 22 Regulations were amended, 4 new Regulations were introduced while 13 Regulations were revoked.
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