Industry leaders, regulatory stakeholders, and private sector leaders gathered for the 4th Annual Conference of the Nigeria Employers’ Consultative Association (NECA) in Abuja under the Enabling Sustainable Enterprise in a Transitioning Economy: Aligning Fiscal, Trade and Regulatory Reforms for Rapid National Development,” the high-level summit brought together top government officials, private sector leaders, regulators, and development partners to chart new pathways for economic revitalisation and business competitiveness in Nigeria.
One of the standout sessions at the summit was a high-powered panel discussion themed “Regulating the Regulators to Promote Enterprise Competitiveness and Rapid National Growth,” moderated by Ms. Seun Oni, Group MD/CEO of A.G. Leventis and Head of Sustainability at Nestlé Nigeria.
The session featured insightful contributions from leaders such as Princess Zahrah Mustapha-Audu, Director-General, Presidential Enabling Business Environment Council (PEBEC); Sadiq Kassim, Director of Corporate Affairs, TGI Group;Gbenga Adebayo, Chairman, Association of Licensed Telecom Operators of Nigeria (ALTON); Prof. Moji Adeyeye, Director General, NAFDAC; and Mr. Segun Ajayi-Kadir MNI, Director-General, Manufacturers Association of Nigeria (MAN).
Setting the tone for the panel, Princess Zahrah Mustapha-Audu stressed that effective regulation is not a hindrance to business but a crucial enabler when properly designed and implemented.
“Regulation is not the enemy of business. When designed and executed efficiently, it is the bedrock of market confidence, consumer protection, and economic stability,” she said. “PEBEC was established to eliminate bureaucratic and legislative bottlenecks and improve Nigeria’s ease of doing business—not by scrapping regulations, but by ensuring regulators are themselves guided by reform-minded frameworks,” she added.
In his remarks, Sadiq Kassim acknowledged PEBEC’s efforts while calling attention to the need for greater coordination among regulators.
“PEBEC is the regulator of the regulators, and we appreciate what they are doing—but some regulators appear untouchable. When mandates clash, PEBEC must act as a legislative liaison to harmonize conflicting requirements,” he noted.
He also highlighted the challenges of financial inclusion for rural communities, especially farmers lacking National Identification Numbers, utility bills or verified contact details.
“As regards financial inclusion and the banks, we at TGI deal with farmers who are in the villages, who don’t have NIN because of lack of exposure or the knowledge. They also lack some of the basic requirements to open a proper bank account, like utility bills or a valid phone number. The question is, how do we get them to be banked? So, there is a need for PEBEC to streamline some of these regulators so that we can understand what we want. We must have a clear line of sight, a delineation of the regulators, and recommend changes in the enabling law”
Expressing similar concerns, Gbenga Adebayo remarked that unchecked regulatory powers pose a systemic risk. He stated, “Some regulators are seen as ‘super regulators’, untouchable in some respects, and this is where PEBEC must assert more influence. Their decisions affect multiple subsectors and can slow down enterprise.”
Professor Moji Adeyeye, Director-General of NAFDAC, took a collaborative tone, urging businesses to uphold regulatory standards as part of a mutual responsibility framework.
He said, “Our mandate is to safeguard public health. We strive to offer safe, reliable products, and we urge the private sector to comply with our requirements. We are consumer-focused and always open to feedback and partnerships.”
Mr Segun Ajayi-Kadir, Director-General of MAN, also joined the conversation by reinforcing the importance of regulatory clarity and policy synergy in supporting manufacturing and industrial growth in Nigeria.
The session reflected a broad consensus: to unlock Nigeria’s full economic potential, regulatory frameworks must be transparent, inclusive and adaptable to modern realities. From simplifying compliance requirements to harmonizing overlapping mandates, the call for a smarter regulatory ecosystem resonated across sectors.
NECA continues to bridge the gap between public and private sectors through platforms such as the Nigeria Employers’ Summit, shaping policy, deepening engagement and driving inclusive national development.
ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
and then