Vice President Kashim Shettima has called on Nigeria’s regulatory agencies to streamline their operations and eliminate overlaps to align with President Bola Tinubu’s vision for economic growth. He emphasized the need for an improved ease of doing business environment in the country.

During the Presidential Enabling Business Environment Council (PEBEC) Regulators’ Forum held at the State House, Abuja, Shettima stressed that regulatory reform is key to achieving Nigeria’s economic transformation. He highlighted the importance of transparency, coordination, and global competitiveness in driving these changes.

Shettima noted, “Our duty to the private sector is clear: to listen, process their concerns, and develop solutions that drive growth,” adding that there have been challenges and complaints regarding certain directives from regulatory agencies. He assured that he had personally intervened to resolve conflicts to foster unity and progress.

He urged regulators to be innovative and open to reinventing processes, aiming to position Nigeria for success rather than economic disadvantage. Shettima stressed the necessity for Nigeria to become a conducive environment where businesses thrive without excessive regulatory burdens.

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Commitment to Streamlining Systems
Shettima reiterated President Tinubu’s dedication to easing business challenges and called on regulators to adopt a mindset focused on facilitating economic growth. He highlighted PEBEC’s efforts, especially through initiatives like the Regulatory Reform Accelerator, as pivotal in reducing obstacles for businesses.

He added, “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.”

Key Participants
Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hadejia, outlined PEBEC’s 2024 outlook, focusing on reforms in the regulatory, judicial, and legislative sectors to enhance Nigeria’s business and investment climate. Special Adviser to the President on PEBEC, Dr. Jumoke Oduwole, echoed these sentiments, stressing that regulators must evolve into enablers of business growth.

Heads of various federal regulatory agencies, including the Nigerian Communications Commission (NCC), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and others, were in attendance, committing to support Nigeria’s economic transformation through effective regulation.