The Presidential Enabling Business Environment Council has urged the Borno State Government to intensify business-friendly reforms to address challenges facing entrepreneurs and attract more investments to the state.
The Director-General of PEBEC, Zahrah Audu, made the call on Monday, during a town hall meeting with private sector operators and business-enabling ministries, departments and agencies in Maiduguri as part of the council’s nationwide engagement on subnational business reforms.
Audu said local businesses could thrive if state governments implemented reforms that promote investment, reduce bottlenecks and create a more conducive environment for enterprise growth.
“This programme was organised in conjunction with the Borno State Government. For us at PEBEC, the Director General of the Presidential Enabling Business Environment Council, Princess Zahrah Audu, has found it fit to have this second subnational tour at the state level again,” she said.
She explained that the engagement was designed to assess reform efforts by government agencies and provide a platform for interaction between policymakers and the private sector.
“It is divided into two parts; the first part of this engagement is to meet with some business-enabling MDAs at the state level to look at the reforms they have been doing to ease business and what they will need to do.
“The second session is used to create a platform for the organised private sector to meet with the MDAs at the state level to express their pain points, and for the government to enlighten the private sector on what they have done and the reforms they have deployed that businesses can take advantage of,” she said.
Audu noted that PEBEC had developed several recommendations aimed at helping states improve their business environment and competitiveness.
“So far, we have brought up some investment-friendly reforms that states can adopt in terms of doing business, and we have engaged them on the need for harmonisation of fees and levies at the state and local government levels, as well as how business ranking is done.
“Lastly, we made them understand the regulatory impact analysis framework that is already operational at the federal level for states to adopt a similar approach,” she added.
She assured stakeholders that PEBEC would continue to monitor progress and engage with the state government to ensure the implementation of agreed reforms.
“After the engagement, we will continue to follow up. We will continue to track and engage with the state to ensure that the issues raised as challenges are addressed.
“At the end of the day, we will have our subnational ranking that will assess the state on how far they have gone in terms of providing an enabling environment for business,” Audu said.
Speaking earlier, the Chairman of the Borno State Investment Promotion Agency, Sa’id Kori, commended PEBEC for driving reforms aimed at improving the business climate across states.
“The presence of PEBEC and the SABER project here in Maiduguri underscores the Federal Government’s commitment to subnational business-enabling reforms, and Borno is proud to be at the forefront,” he said.
Kori said the state had made significant progress under Governor Babagana Umara Zulum through the implementation of key business reforms.
“We have made significant progress. Under the visionary leadership of His Excellency, Governor Prof. Babagana Umara Zulum, and with the active support of our Deputy Governor, we have domesticated key reforms, including the full implementation of the State Action on Business Enabling Reforms (SABER) in collaboration with the World Bank, and the operationalisation of the Business Enabling Reforms Action Plan (BERAP).
“Our goal is simple: to reduce the cost and time of doing business, eliminate bureaucratic bottlenecks, and provide a seamless, transparent and predictable regulatory environment for every investor,” he said.
He also pledged the agency’s commitment to working with PEBEC and other stakeholders to improve the ease of doing business in the state.
“As Chairman of Borno-Invest, I can assure you that our agency stands ready to work hand-in-hand with PEBEC, the SABER project, and all MDAs to harmonise fees, simplify regulations, and improve the investor experience from entry to exit,” Kori added.
The Presidential Enabling Business Environment Council was established by the federal government to improve Nigeria’s business climate by reducing regulatory bottlenecks and promoting reforms that make it easier to start, operate and grow businesses.
Through its State Action on Business Enabling Reforms programme, implemented in partnership with the World Bank, PEBEC works with state governments to improve investment attraction, service delivery and overall competitiveness.
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