The Presidential Enabling Business Environment Council (PEBEC) has completed the Seventh National Action Plan (NAP 7.0), following the 30-day extension of the previous completion date of April 6, 2022.
NAP 7.0 concluded with an overall completion rate of 50% and marks the end of the 90 days accelerated reform cycle targeted at implementing reforms for improved efficiency and transparency of Ministries, Departments and Agencies (MDAs).
This was contained in a statement issued by Dr Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business/PEBEC Secretary at the weekend.
The PEBEC, at its meeting held In January 2022, had approved the commencement of NAP 7.0 to run from February 7, 2022, to April 7, 2022, with a target to deliver 57 reforms within the 60-day accelerator window.
Some of the participating MDAs include the Corporate Affairs Commission (CAC), Trademarks Registry (Federal Ministry of Industry, Trade and Investment), Citizens and Business Department (Ministry of Interior), Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigeria Agricultural Quarantine Service (NAQS), and National Agency for Food and Drug Administration and Control (NAFDAC).
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According to the statement, the NAP 7.0 was designed to further reduce challenges faced by micro, small and medium enterprises (MSMEs) across four areas: Agro-Export Implementation Action Plan, Automation Reforms, Regulatory Reforms, and Executive Order 01/ReportGov.NG compliance reforms.
“The reforms include the streamlining and simplification of export regulatory practices with a view to boosting the competitiveness of Nigeria’s agro exports while enhancing Nigeria’s foreign exchange earnings as stated in the Agro-Export Plan.
“The completed reforms for the NAP 7.0 includes the publication of Insolvency Regulations pursuant to the Companies and Allied Matters Act (CAMA) 2020, providing the much-needed support for the operationalization of the extensive insolvency provisions in CAMA 2020,” the statement reads.
In addition, it said public companies will now be able to upload their share registers on CAC’s Company Registration Portal (CRP).
Furthermore, Dr Oduwole noted that enforcement of compliance with Order 172 on timeline for distribution companies (Discos) to complete new connections for maximum demand users to the distribution grid has commenced.
“The reform will improve Discos’ turnaround time for connecting maximum demand users. Likewise, the Trademark Registry has resolved previously recurring errors in the manual generation of certificates/recordal documents,” she added.
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