PEBEC Wants to Reduce the Challenges Encountered by SMEs in Doing Business

The Presidential Enabling Business Environment Council (PEBEC) has announced the commencement of the fourth 60-day National Action Plan (NAP) on ease of doing business in Nigeria.

PEBEC in a statement on Tuesday, March 4, 2019, said the move was in line with the commitment to deliver reforms aimed at improving the enabling environment for doing business in Nigeria through systemic interventions.

The NAP 4.0, which runs from Friday, March 1 through Monday, April 29, 2019 aims to reduce the challenges encountered by Small and Medium Enterprises (SMEs) in areas such as starting a business, getting credit, paying taxes, enforcing contracts or trading within and across borders by eliminating critical bottlenecks and constraints to doing business in the country.

According to PEBEC, Some of the targets achieved in NAP 3.0 include driving registration for utilisation of the National Collateral Registry to facilitate access to credit for SMEs; clearance of all pending NAFDAC registration applications to improve efficiency; and creation of a strengthened single joint cargo examination interface in all airports and seaports for import and export to reduce the time spent at the ports.

The Minister of Industry, Trade and Investment, Dr Okey Enelamah, said the NAP 4.0 had been launched to deepen the reforms delivered and drive institutionalisation. Also, the first, second and third NAPs, which were coordinated by Enabling Business Environment Secretariat of the council, had resulted in significant progress over the past three years.

“We have highlighted key action items in each of the focus areas to ensure the reforms delivered do not unravel, and to ensure we drive sustainability,” he added.

PEBEC’s Secretary and Senior Special Assistant to the President on Industry, Trade and Investment, Dr Jumoke Oduwole, said the council would continue to work extensively with all Ministries Departments Agencies, the National Assembly and various arms of the government on various reforms critical to an enabling business environment.

PEBEC was established in 2016 to oversee Nigeria’s business climate reform agenda and is Chaired by His Excellency the Vice President, Prof. Yemi Osinbajo, SAN, with the Honourable Minister of Industry, Trade and Investment, Dr Okey Enelamah as Vice Chair.

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