We’ll address your concerns, FG assures investors

The Federal Government has assured investors that it would provide a stable business environment to promote business predictability for seamless and profitable businesses.

Vice President Kashim Shettima, who said this at the 2nd Presidential Enabling Business Environment Council (PEBEC) roundtable, described the meeting as a critical tool that will facilitate a collaborative platform for stakeholder engagement.

The Vice President said this at the launch of Nigeria’s Regulatory Impact (NRI) Analysis Framework, which was held in Abuja on Wednesday.

He said that in compliance with the renewed hope mandate of the President Bola Tinubu administration, the launch of the NRI aims to drive measurable impacts for productivity and competitiveness across key sectors to improve the Nigerian business environment and support the economic initiatives of the government.

The Vice President commended the “first of its kind $750m performance for result state action enabling reform, a Federal programme co-designed by the federal secretariat and the World Bank to improve the business environment activities at the sub-national level.”

The Vice President, who was represented by the Deputy Chief of Staff to the Vice President, Sen. Ibrahim Hadeija, said the roundtable would provide local and international investors with the opportunity to foster discussions that would make Nigeria a more attractive destination for business and investments.

He said the roundtable, through robust participation of the stakeholders, would transform Nigeria’s regulatory landscape to enhance Nigeria’s global competitiveness.

He said the presidency was proud of the 180 verifiable projects that have come through the Presidential Enabling Business Environment Council (PEBEC).

Speaking to the stakeholders on their important role at the launch of the NRI, the newly appointed Director General of the Presidential Enabling Business Environment Council (PEBEC), Princess Zahrah Audi, said the survey conducted by the Council to provide a reliable policy direction for a stable business environment revealed three top concerns that would be immediately addressed.

According to her, stakeholders wanted a predictable environment for businesses to thrive while they look forward to expanding their business presence in-country, identifying Taraba and FCT as top choices for business locations.

The launched Nigeria’s Regulatory Impact (NRI) Analysis Framework document revealed a total investment of $15 billion or N22.6 trillion from 51 companies in the country.

The Governor of the Central Bank, who was also present at the event, said he could assure businesses that following the reforms going on in the sector, banks would be more interested in funding the productive sector of the economy.

His words: “I am also pleased that with the foreign exchange market becoming more buoyant and more transparent, sparing some illicit flows being pushed out of that market, it now forces the banks to really get down to banking businesses. I am optimistic that going forward, we will see more interest in banks funding productive activities.”

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