PEBEC implemented over 160 reforms in six years ― FG

The Federal Government has stated that over 160 reforms have been implemented by the Presidential Enabling Business Environment Council (PEBEC) over the last six years.

The Special Adviser to President Muhammad Buhari on the Ease of Doing Business, Dr Jumoke Oduwole stated this at the Peer to Peer Learning session on Wednesday in Lagos.

Oduwole explained that the reforms improved Nigeria’s public service delivery across Federal Government Ministries, Departments and Agencies(MDAs).

According to her, these reforms have in no small measure impacted the life cycle of MSMEs in the country.

She noted that the reforms cut across automation (Digitisation of the pre-incorporation process of the Company Registration Portal), Regulatory(Approval and release of insolvency Regulations pursuant to CAMA 2020), Legislative (passage of the CAMA 2020, Credit Reporting Act 2017, Secured Transactions Immovable Assets Act, 2017) and Judiciary (Establishment of Small Claims Courts in 7 States so far).

Oduwole added that important external validation from the World Bank’s flagship Doing Business report moved the country up 39 places and was twice recognised as a top 10 reformer globally within a 3-year period.

“Over 160 reforms have been implemented by PEBEC over the last six years targeted at improving Nigeria’s public service delivery across Federal Government Ministries, Departments and Agencies(MDAs).

“These reforms have in no small measure impacted the life cycle of MSMEs in the country.

“These reforms cut across Automation (Digitisation of the pre-incorporation process of the Company Registration Portal), Regulatory(Approval and release of insolvency Regulations pursuant to CAMA 2020), Legislative (passage of the CAMA 2020, Credit Reporting Act 2017, Secured Transactions Immovable Assets Act, 2017) and Judiciary (Establishment of Small Claims Courts in 7 States so far).

“We also had important external validation from the World Bank’s flagship Doing Business report where we moved up 39 places and were twice recognized as a top 10 reformer globally within a 3-year period; and the WEF competitiveness report,” she said.

Speaking on the impact of the establishment of small courts, The Special Adviser stated it is needed to urgently address the speed of adjudication, particularly financial claims and to reduce cases from the dockets of the High Courts over a simple commercial dispute.

Jumoke added that Most Micro, Small and Medium Scale Enterprises (MSMEs) require liquidity to carry on their businesses, noting that this ultimately shows an improvement in the quality and efficiency of judicial processes.

“The rationale behind these courts arose from the need to urgently address the speed of adjudication, particularly financial claims and to reduce cases from the dockets of the High Courts over a simple commercial dispute.

“Most Micro, Small and Medium Scale Enterprises (MSMEs) require liquidity to carry on their businesses. In instances where a financial claim arises from business interactions, best practice requires a speedy court settlement of such claims between parties.

“This ultimately shows an improvement in the quality and efficiency of judicial processes,” she said.

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