Vice President of Nigeria, Yemi Osinbajo yesterday launched the second National Action Plan on Ease of Doing Business as part of the administration’s medium term Economic Growth and Recovery Plan (EGRP) to build a globally competitive economy.
The Vice President had last week presided over an expanded meeting of the Presidential Enabling Business Environment Council (PEBEC) in Abuja.
A statement by PEBEC Secretary and Senior Special Assistant (SSA) Industry, Trade & Investment in the office of the Vice President, Dr. Jumoke Oduwole, yesterday said PEBEC had approved a second 60-day National Action Plan (NAP 2.0) to drive reforms aimed at making Nigeria a progressively easier place to do business.
She said NAP 2.0 will run from October 3 to December 1, 2017, and is expected to further reduce the challenges faced by SMEs when getting credit, paying taxes, or moving goods across the country, amongst others, by removing critical bottlenecks and bureaucratic constraints to doing business in Nigeria.
The reforms, Oduwole explained, will also improve the country’s ranking in the World Bank’s Ease of Doing Business Index 2019.
The NAP 2.0 marks the beginning of another reform cycle 2017/2018 which aims to deepen the ease of doing business reforms implemented across the various Ministries, Departments, and Agencies (MDAs) in the last 12 months and will in turn increase productivity through industrialization, enhanced exports and foreign exchange earnings, while creating jobs and reducing poverty.