Vice-President Kashim Shettima has urged regulatory agencies to eliminate overlaps and align their activities with President Bola Tinubu’s agenda for economic growth and enhance ease of doing business in Nigeria.
Shettima said this on Thursday during the Presidential Enabling Business Environment Council (PEBEC) Regulators’ Forum to build an effective Regulatory Impact Framework (RIA) for Nigeria, held at the Presidential Villa, Abuja.
He said that President Tinubu’s administration was committed toward streamlining the regulatory environment in the country.
According to Shettima, the move is crucial in driving the coordination, transparency and global competitiveness required for the nation’s economic transformation.
He noted that the administration’s journey toward a regulatory system built on trust, consistency and collaboration was ongoing.
He said that it was a journey that required all and sundry to remain committed.
‘Our duty to the private sector is clear: to listen, process their concerns, and
develop solutions that drive growth.
‘In recent months, there have been pockets of complaints regarding certain directives from our regulatory agencies.
‘I have personally intervened on several occasions to ensure we are not hampered by conflict, but instead move forward with unity and purpose.
‘The success of this forum today does not solely depend on our ability to collaborate, share knowledge, and align our regulatory actions with the broader national agenda,’ Shettima said.
He said President Tinubu had reassured the business community of his commitment to easing any bottlenecks they might encounter.
‘And each regulator here must adopt the same mindset in their dealings with private enterprises.
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‘The work of PEBEC, particularly through initiatives like the Regulatory Reform Accelerator, has been pivotal in reducing the obstacles faced by businesses.
‘Today’s forum offers an unparalleled opportunity to address these
issues head-on and chart a new course towards regulatory cohesion.
‘This is not merely an event – it is a defining moment for us to reflect on the duties we owe our nation,’ he said.
Earlier, the Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hadejia, outlined PEBEC’s 2024 outlook.
Hadejia highlighted Nigeria’s business and investment climate reforms through its five strategic pillars, comprising regulatory, judicial and legislative reforms, among others.
He said deliberations and actions at the forum would be aligned with national economic goals that could make Nigeria a more attractive destination for business and investment.
‘Through your participation and active contributions, this forum will play a pivotal role in transforming Nigeria’s regulatory landscape, ensuring that it enhances our global business competitiveness.’
The Executive Vice Chairman of Nigeria Communications Commission (NCC), Alhaji Aminu Maida, thanked the vice-president for bringing all regulat
ors together for the good of the nation.
‘I think this is a very productive meeting and it is a very simple concept for one that will prove extremely effective because often we don’t realise how our actions which might seem to be very insignificant send a signal to the outside world.
‘So, I think by the conveying of this forum, we as regulators in Nigeria, we are able to sit down and talk to each other rather than being cut unaware and ending up fighting fires which in the long run hampers investment into the country.
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‘Which I believe is exactly what President Tinubu wants to do to make Nigeria a destination for investment in the world,’ Maida said.
Also, Special Adviser to the President on PEBEC and Investment, Dr Jumoke Oduwole, noted that regulators must act as enablers, evolving to support and nurture the very ecosystem they oversee.
‘Regulators should be assessed based on the health of the businesses under them. If the busines
ses are dying, the regulator should be concerned.
‘I want us to be the first government in modern history to leave office having reduced the overall burden of regulation rather than increasing it.’
Source: News Agency of Nigeria