The Centre for Anti-Corruption and Open Leadership, CACOL, has hailed President Muhammadu Buhari for signing the business facilitation bill into law.
In a press release issued by the anti-graft coalition’s Director of Administration and Programmes, Tola Oresanwo on behalf of its Chairman, Mr. Debo Adeniran, he noted, “It was reported that the President has assented to the Business Facilitation (Miscellaneous Provisions) Bill 2022 also known as the omnibus bill and five other bills passed by the National Assembly.
Presented as an executive bill, the business facilitation (miscellaneous provisions) act, 2023, is a legislative intervention by The Presidential Enabling Business Environment Council (PEBEC), which amends 21 business-related laws, removing bureaucratic constraints to doing business in Nigeria.
The new law also codifies executive order 001 on transparency and efficiency in public service delivery, aimed at strengthening ease of doing business reforms across the country.
The CACOL Chair opined that “we hope the signing of this bill into law will mark a turning point for ease of doing business, transparency, efficiency and productivity in the country. We all know that the country has been known for various bureaucratic bottlenecks when it comes to running a business, which has impeded so many entrepreneurs who would have established businesses that would thrive and absorb the teeming numbers of jobless youth in the country.”
“We, therefore, commend the 9th national assembly for its speedy consideration of this bill, and President Buhari for signing it into law as this singular action would boost the delivery of an enabling environment for micro, small, and medium-sized enterprises (MSMEs) in Nigeria.”
“Ease of doing business will reduce propensity to demand and give bribes before things are done. We also believe that when people have direct access to their own business, and they can do their business and make profits, the penchant to get involve in corruption will be reduced”
“We have always opined that if there were enabling laws, policies and a strong will to implement those laws, corrupt practices and opacity in the business environment would be easily nipped in the bud.”
Tola Oresanwo
Director, Administration and Programmes, CACOL
08141121208
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