Nigeria streamlines regulatory environment to boost economic growth

Vice President Kashim Shettima has urged regulatory agencies to eliminate overlaps and align with President Bola Tinubu’s agenda for economic growth and improved ease of doing business in Nigeria.

At the Presidential Enabling Business Environment Council (PEBEC) Regulators’ Forum in Abuja, Shettima emphasized the need for a regulatory system built on trust, consistency, and collaboration.

He tasked regulators to heed President Tinubu’s call to action, envisioning a country where regulatory excellence drives economic growth, attracts investment, and improves citizens’ quality of life.

Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, outlined PEBEC’s 2024 outlook, highlighting five strategic pillars for reform. Special Adviser to the President on PEBEC and Investment, Dr. Jumoke Oduwole, stressed that regulators must act as enablers, supporting and nurturing businesses.

Heads of federal government regulatory agencies, including NCC, NUPRC, NERC, NPC, NDPC, NEPZA, and NIMASA, attended the meeting.

Regulatory Reforms Aim to:

· Simplify regulatory processes
· Boost economic growth
· Improve transparency

By addressing regulatory challenges, Nigeria aims to create a more favorable business environment and achieve sustainable economic development.