Business

Ease Of Doing Business: FG Moves To Improve Ranking

Published

8 years ago

August 30, 2017

The Federal Government, says all tiers of government are now being proactive to improve the country’s 2018 ranking on the Ease of Doing Business.
Mr Aminu Bisalla, Permanent Secretary, Ministry of Industry, Trade and Investment, said this in Abuja at a meeting with the commissioners for trade and commerce from the states.
“All arm of government are now involved to ensure that the country improves in its ranking of ease of doing business.
“As part of effort aimed at facilitating the ease of doing business in Nigeria, registration is now very easy, small businesses can now establish without facing any difficult situation.
“More states have lands that are accessible, business owners can use the land to get loan and I am very optimistic that the next ranking will see Nigeria progress tremendously.
“A lot is being done to reposition the economy in areas where we have comparative advantage.
“We have realised that the engine of growth is the private sector and the only way to succeed in vitalising the economy is to make it very easy for businesses to flourish,’’ Bisalla said.
In July 2016, President Muhammadu Buhari established the Presidential Enabling Business Environment Council (PEBEC), with a mandate to remove bureaucratic and regulatory constraints to doing business in Nigeria. The Council is chaired by the Vice President, Yemi Osinbajo.
The council released three main pillars of the next phase of interventions and reform to improve its image on ease of doing business report by the World Bank in 2018.
The pillars comprises Deepening Existing Reforms, Sub-national Reforms and Trading within Nigeria.
Nigeria’s ranking in the latest report by the World Bank for 2017 improved marginally from 170 to 169 out of the 190 countries
Nigeria’s overall global ranking improved by 44.63 per cent points average, against 44.02 per cent age points, or 0.61 per cent in 2016.
Bisalla said that in the past, the major challenge for small business owners was multiple taxation which made it difficult for small businesses to develop.
According to him, with the effort made so far by the government, business can now flourish and with that, there will be more employment in the country.
Dr Jumoke Oduwole, Senior Special Assistant to the President on Industry, Trade and Investment, in a paper, said, there were compelling imperatives for sub-national reforms at the states level.
The paper is tilted “Reforming Nigeria at the sub-national level: Bringing Enabling Environment Reforms to all Nigerians’’.
Oduwole, who is the Secretary to the council, said that the reforms were in the best interest of each state to support economic growth and development.
She said that the reform progress would serve as a tool for investors to measure viability of proposed investment in a state, adding that, some states were already implementing the reforms.
Oduwole said a lot could be achieved with limited resources by applying best practices like efficiency, transparency, performance management and key performance indicators.
“Sub-national rankings are important as Micro, Small and Medium Enterprises (MSMEs) make up to 90 per cent of business in Nigeria.
“The local business plays a vital role in ability of MSMEs to thrive, a friendly business environment MSMEs to move from the informal to the formal sector,’’ she said.
Oduwole said that drastic and fast-paced business reforms must be conducted simultaneously to improve the business environment and attract foreign investors.
She said that reforms must be adopted within the next 12 months to reflect in the 2018 ease of doing business report.
According to her, going forward, the council is focusing on three key areas which are deepening existing sub-national and additional reforms.
Ms Cemile Hacibeyoglu, from the World Bank Group, said successful reforms should include all relevant agencies and the private sector.
Hacibeyoglu said the sub-national doing business studies were aimed to promote competition and motivate regulatory reforms, to improve the business environment and achieve convergence among locations towards the best regulatory practices.

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

1 day ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

2 days ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

4 days ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi