Reducing Market Distributions - Business Facilitation Act 2023

The Presidential Enabling Business Environment Council (PEBEC) was a laudable initiative of the past administration to improve the ease of doing business in Nigeria. The Council initiated over 160 business enabling reforms in government ministries, departments, and agencies. As a result of these reforms, Nigeria’s ease of doing business score improved by over 8.5 basis points, and Nigeria moved up 39 places on the World Bank’s Ease of Doing Business rankings at some point. In one of its final acts before bowing out of the stage, they passed Business Facilitation Act was passed into law on 14 February 2023. This Act amends 21 business related laws and aims to consolidate and institutionalize all the reforms initiated by PEBEC for ease of ongoing implementation. Our guests Toyin Bashir and Ayokunnu Ojeniyi discuss more about this topic in this episode hosted by Chiamaka Ibeh.