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PEBEC to Move Nigeria into Top-100 on the 2020 World Bank Doing Business Index
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.
Anambra State has once again demonstrated its leadership in digital transformation, emerging as one of Nigeria’s top three states in the 2025 e-Governance Report published by the Panorama CIAPS Governance Performance Index (CGPI).
According to the report — a collaborative effort between Nigerian Panorama and the Commonwealth Institute of Advanced Professional Studies (CIAPS) — Anambra ranks alongside Lagos and Enugu as the leading states in adopting and implementing e-governance practices that foster accountability, transparency, and improved service delivery.
In his remarks, Professor Anthony Kila, Director of CIAPS, emphasized the importance of e-governance in shaping how governments interact with citizens. “The centrality of e-governance allows us to assess the performance of state governments in the country. How the government treats the digital world says a lot about them,” he said.
The report evaluated states based on a comprehensive set of criteria, including website security, up-to-date content, public engagement, availability of online services, policy updates, and user accessibility. Anambra’s performance reflects the state’s deliberate investment in digital infrastructure and its commitment to leveraging technology as a tool for inclusive governance.
Reacting to the recognition, the Managing Director/CEO of the Anambra State ICT Agency, Chukwuemeka Fred Agbata, CFA, described the report as a welcome validation of the efforts being made under the leadership of Prof. Charles Chukwuma Soludo, CFR, to reposition Anambra as a liveable and prosperous smart mega-city.
“This is not just about being tech-savvy,” Agbata said. “It’s about using digital tools to create real impact — making the government more accessible, responsive, and transparent. Anambra is building a digital future that works for everyone.”
The CGPI Report recommended that all states intensify efforts to train public servants, maintain digital platforms effectively, and build user-friendly systems that keep citizens informed and empowered. For Anambra, this recognition serves both as a milestone and a motivation to scale new heights.
As the journey continues, Anambra remains focused on setting the pace for e-governance in Nigeria in line with the Governor’s mantra of Everything Technology & Technology Everywhere.
Socio-Economic Rights and Accountability Project (SERAP) has urged the National Assembly to reject the Tinubu administration’s request to borrow $24 billion, warning that the move would significantly deepen Nigeria’s debt crisis.
In a statement posted on its official X account, the advocacy group warned that the proposed borrowing would raise Nigeria’s total debt stock to an estimated ₦183 trillion—an amount it described as “clearly not sustainable and not in the public interest.”
“The National Assembly must immediately refuse to approve the Tinubu administration’s request to borrow $24 billion,” the group said. “The growing national debt is not sustainable and not in the public interest.”
SERAP expressed concern over the heavy burden of debt servicing, which it said is already consuming a substantial portion of government revenue, leaving little room for critical public investment.
Nigeria’s total public debt is projected to surpass ₦180 trillion following the president’s latest loan request. The borrowing plan includes a proposal for over $21.5 billion in external loans, which equates to ₦33.39 trillion at the official exchange rate of ₦1,590 per dollar. The administration is also seeking approval for a domestic bond issuance worth ₦757.9 billion to settle outstanding pension liabilities.
President Tinubu said the 2025–2026 borrowing plan targets key sectors such as infrastructure, healthcare, education, water supply, security, and employment generation. He noted that the plan is also intended to cushion the economic impact of fuel subsidy removal.
The total loan request comprises $21.5 billion, €2.19 billion, and 15 billion Japanese Yen, alongside a €65 million grant. Tinubu assured lawmakers that the funds would be directed toward development projects across all 36 states and the Federal Capital Territory, with emphasis on rail networks, healthcare infrastructure, and poverty alleviation programs.
On pension-related borrowing, the president explained that the proposed bond issuance is aimed at clearing backlogs under the Contributory Pension Scheme. The measure, he added, has already received approval from the Federal Executive Council and is expected to improve retirees’ welfare, restore trust in the pension system, and inject liquidity into the economy.
Nigeria’s public debt has surged in recent years, rising by 48.6% in 2024 to ₦144.66 trillion—up from ₦97.34 trillion in 2023. The Federal Government accounts for 95% of that total.
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