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PEBEC to Move Nigeria into Top-100 on the 2020 World Bank Doing Business Index

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The Presidential Enabling Business Environment Council (PEBEC) has said that its goal is to move Nigeria into the top-100 on the 2020 World Bank Doing Business Index (DBI).

 

This was made known at the 10th Presidential Quarterly Business Forum which held in Abuja last week.

 

The Forum was attended by leading members of the organised private sector and other key stakeholders; and had seven Honorable Ministers, including Industry, Trade & Investment, Finance, Budget & National Planning and Power, Works and Housing present to share detailed progress reports with representatives.

 

The DBI is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on 10 Ease of Doing Business (EoDB) indicators.

 

The Index offers comparative insights based on private sector validation of reforms delivered in the two largest commercial cities in countries with a population higher than 100 million, and the report consequently features Lagos and Kano states for Nigeria.

 

The World Bank has reported an improvement in Nigeria’s Distance to Frontier (DTF) score by more than 11 basis points over the past 3 years.

 

This means that Nigeria has improved its business regulations as captured by the doing business indicators, and is narrowing the gap with global regulatory best practice.

 

This success has been driven by the implementation of over 140 reforms by PEBEC over the period, which also resulted in the country moving up 24 places in the rankings.

 

Speaking on the sub-100 target, Dr. Jumoke Oduwole, Secretary, Presidential Enabling Business Environment Council (PEBEC) and Senior Special Assistant to the President on Industry, Trade & Investment, said “We know it is bold, but we are quite clear on what our mandate is and are motivated by the impact we know these reforms will have on the lives of Nigerians”.

 

Since its establishment in 2016, PEBEC in collaboration with MDAs and other public and private sector partners, has systematically worked to remove bureaucratic bottlenecks faced by businesses in Nigeria.

 

The Council has focused on reducing the time, cost and procedures of doing business, and some of its successful reforms include the ability of stakeholders to reserve a business name within 4-hours and complete the registration of a company within 24 hours online; apply for and receive approval of a visa-on-arrival electronically within 48hrs; file and pay all federal taxes online; and access specialised small claims commercial courts in Lagos and Kano States, to mention a few.

 

The World Bank also reported in 2018 that 32 states improved in their EoDB environment led by Kaduna, Enugu, Abia, Lagos and Anambra.

 

Dr. Oduwole stated further “This year, we intend to strengthen the collaboration with MDAs and partners to consolidate and build on the work done.

 

“We will be pursuing the implementation of much-needed legislative reforms, specifically the passage of the CAMA and Omnibus Bills; the expansion of the regulatory reform program started with NAFDAC and NAICOM to include other regulators; the establishment of a National Trading Platform for ports; and the concession of our major international airports.

 

„We will also continue to cascade the EoDB initiatives down to the sub-national level working with the state governments, and will release the first sub-national survey report in April 2019”.

 

“We remain firm in our conviction of the immediate and long-term benefits of the PEBEC reforms.

 

“We have put in place frameworks for improved communication and engagement between government stakeholders and private sector players, as we intend to ensure the reforms are validated to enable us achieve our sub-100 place in the rankings” she said.

 

PEBEC is chaired by the Vice President Prof. Yemi Osinbajo, SAN, with the Minister of Industry, Trade and Investment as Vice Chair.

 

The Council has 9 other ministers, Head of Civil Service of the Federation, Governor of CBN and representatives from the National Assembly and private sector as members.


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Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

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Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.

Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

Participants at the event

Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,

This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.

While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.

Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.

It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.

Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.

Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.

 

 

 

 

 

 

 

 

 


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As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

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While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.

As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.

It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.

“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.

The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.

Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.


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President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman

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President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.

Jim Ovia

Jim Ovia

Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.

The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.

“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”

The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.

The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.

“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.

Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”


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