Business

Appraising Nigeria’s Business Climate Since 2016

Published

7 years ago

April 10, 2019

The Federal Government in 2016 established the Presidential Enabling Business Environment Council (PEBEC), to boost Nigeria’s Ease of Doing Business (EoDB) reforms.
To give teeth to EoDB chaired by Vice President Yemi Osinbajo; in 2017, as acting President, Osinbajo signed the Executive Order (E001).
E001 was aimed at giving the desired zing to the implementation of the Voluntary Assets and Income Declaration Scheme (VAIDS).
PEBEC’s model colligates with global best practice and includes a strong performance tracking element that is measured by the World Bank Ease of Doing Business Index (DBI), which is reported annually.
The DBI is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on EoDB indicators.
Speaking at the 2nd PEBEC Awards, held recently in Abuja, Osinbajo said that the Federal Government had implemented no fewer than 140 reforms on ease of doing business in the past three years.
He said he was delighted to celebrate the phenomenal successes of the PEBEC reforms and recognition of those who made it possible.
“Our incredibly selfless and committed private sector partners and the sterling performance of many in the public sector; in the past three years, Nigeria has implemented more than 140 reforms to make doing business in Nigeria easier.
“Some of the successful reforms include the ability to reserve a business name within four hours.
“Complete the registration of a company within 24 hours online.
“Apply for and receive approval of a visa-on-arrival electronically within 48 hours.
“File and pay taxes online; and access specialised small claims commercial courts in Lagos and Kano States.
“The World Bank also reported in 2018 that 32 states of Nigeria improved their ease of doing business environment, led by Kaduna, Enugu, Abia, Lagos and Anambra States.”
He said that in 2019, PEBEC set a goal to move Nigeria into the top 100 on the 2020 World Bank Doing Business Index (DBI).
Osinbajo said that to achieve that, Nigeria would continue to pursue the implementation of reforms across all indicators.
He said that the indicators included implementation of legislative reforms, specifically the passage of the new Companies and Allied Matters Act and the Omnibus Bills.
The vice president listed others as the expansion of the regulatory reform programme started with NAFDAC and NAICOM, to include other regulators; the establishment of a National Trading Platform for ports and concession of major international airports.
“PEBEC has now commenced the fourth 60-day National Action Plan (NAP 4.0) on the Ease of Doing Business.
“NAP 4.0 is running from March 1 to April 29, 2019. It aims to deepen the reforms delivered over the past three years and drive institutionalisation.
“We have highlighted key action items in all of the focus areas to ensure we drive sustainability
“Some of the targets achieved in the last NAP 3.0 include driving registration for utilisation of the National Collateral Registry to facilitate access to credit for SMEs.
“Clearance of all pending NAFDAC registration applications to improve efficiency; and creation of a strengthened single joint cargo examination interface in all airports and seaports for import and export to reduce the time spent at the ports.
“NAP 4.0 will focus on initiatives such as enforcing compliance with Service Level Agreements (SLAs) across all indicators/focus areas, driving the passage of the Companies Allied Matters Bill 2018 for improved effectiveness of company law in Nigeria,” he said.
He said that other areas of reforms were enhancing efficiency in the small claims court, and enhancing the application and approval system for visas on arrival, among others.
According to him, the council will continue to work with all MDAs, the National Assembly and other key stakeholders.
In her address, Coordinator of PEBEC and Senior Special Assistant to the President on Industry, Trade and Investment, Dr Jumoke Oduwole, said the award was to appreciate MDAs which had contributed in the implementation of PEBEC mandate.
She said that the reforms were aimed at reducing bureaucratic bottlenecks and improve perceptions about Nigeria’s business environment.
Oduwole said that NAP 4.0 would enable the federal, state governments and the private sector to deliver impacts to Nigerians.
“The award is to give pat on the back of agencies and private sectors carrying out these reforms to ensure sustainability of the reforms,” she said.
On his part, Mr Okechukwu Enelamah, the Minister of Industry, Trade and Investment, said the award was a landmark in the journey of creating an enabling business environment in Nigeria.
He said that PEBEC was a foundation for creating a Nigeria that the citizens deserved.
The awards which came under various categories were presented to various government agencies and private establishments.
The awardees were: Corporate Affairs Commission, National Assembly Business Environment Roundtable, Nigeria Economic Summit Group, Nigerian Bar Association, Department for International Development, World Bank Group, Federal Inland Revenue Service, KPMG, Nigerian Ports Authority, Nigerian Stock Exchange, among others.
Notable among the awards was the World Bank’s sub-National Award for Reformed States in 2018, which went to Anambra, Abia, Lagos, Enugu and Kaduna States.
Governor. Okezie Ikpeazu of Abia State, said he was excited over the award and was dedicating it to God and Abia people.
“But I must acknowledge the dark room team–the various ministries and departments and agencies that reformed and reformed quickly.’’
Ikpeazu said that the award was in line with the promotion for the Enyimba Economic City.
He said that his ambition was to make Abia investment destination, not only in Nigeria but in Africa, adding that the only way to do it was to ensure that the ease of doing business was enhanced.
“We become a sub-national leader in this sector and by the grace of God, we will achieve this.
“Abia is an investors’ haven and I think by NBS statistics, we are number three in terms of investment in Nigeria. And we want to be number one and we can do it.
“The Enyimba Economic City is alluring; it is compelling; it is irresistible; this is the place to go,’’ he said.
The governor appealed to investors to come to Aba and invest, as the city would soon enjoy uninterrupted power supply.
Without doubt, the Ease of Doing Business in Nigeria has improved, concerted effort should be made to sustain it, to enable the country achieve its target of moving into the top 100 on the 2020 World Bank DBI.
Okoronkwo writes for News Agency of Nigeria.

Chijioke Okoronkwo

Business

NCDMB Signs Mgt Deal With Radisson, Edison…As Board’s 204 Rooms Hotel Open December 2026

Published

1 day ago

March 9, 2026

The Tide

The Nigerian Content Development and Monitoring Board (NCDMB), on Monday signed an international management agreement (IMA), with Radisson Hospitality, Belgium and Edison Hotel and Property Development Company with respect to the Board’s 204 rooms hotel and conference center, developed adjacent to the Content Tower, headquarters of the NCDMB in Yenagoa, the Bayelsa State.

A statement by the Board’s Directorate of Corporate Communications says the management agreement was signed in Durban, South Africa by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, Executive Chairman of Edison Corporation, Mr. Vivian Reedy and Director of Radisson, Mr. Garnier Erwan.

Giving assent to the agreement, Ogbe affirmed that discussions, reviews, and compliance requirements have lasted for over two years, and that the Board secured the approval of all key stakeholders, including the Attorney?General of the Federation and Minister of Justice, Lateef Olasunkanmi Fagbemi, SAN.

“The support of stakeholders ensured that the Agreement meets Nigeria’s legal and regulatory standards.The aspiration of the NCDMB is to deliver a world?class hotel in Yenagoa, Bayelsa State with a fully equipped conference centre—designed to serve the oil and gas industry stakeholders and the Nigerian public”, he said.

He pledged the NCDMB’S commitment to completing the hotel on schedule time and achieving the opening in December, 2026.

“We appreciate our responsibilities—construction quality, pre?opening readiness, funding, safety and security compliance, and maintaining Radisson’s global standard. We will do our best to meet our obligations”, Ogbe added.

The Board’s Scribe charged the Hospitality firm to bring its expertise, systems, and brand strength to deliver a hotel that offers excellent service and guest experience, expressing hope that the partnership with Edison Hotels will create a facility that reflects global quality and supports Bayelsa’s position as an oil and gas hub.

“This project reflects NCDMB’S commitment to using strategic investments to boost productivity, attract investment, build local content, and expand opportunities for business and tourism in Nigeria when completed.

“Radisson Hotel and Conference Center Yenagoa will stand not only as a hotel, but also as a symbol of what strong partnerships can achieve”, Ogbe noted.

In his remarks, Executive Chairman of Edison Corporation, Vivian Reedy described the organisation’s role as a bridge between the owner and the operator, highlighting the group’s intensive experience in the hotel industry, and determination to ensure alignment, transparency, accountability and performance.

“We understand that a successful hotel is not just about buildings. It is about disciplined management, strong oversight, brand integrity, and a shared commitment to excellence.

“Part of our firm’s responsibility is to ensure that the hotel is delivered, operated, and managed in a manner that protects and announces the owner’s investment, while fully supporting Radisson in achieving operational excellence”, he said.

The Edison boss assured that working closely with Radisson and NCDMB’s team, the Radisson Hotel and Conference Center, Yenagoa will become the leading hospitality and conference destination in Bayelsa State, saying it is catalyst for business and investment, and a symbol of quality professionalism and international standards.

He emphasized that the firm has had wonderful successes with Radisson in other locations, even achieving 95% occupancies, noting that the company’s approach is to strengthen governance, support performance, and ensure the interests of the owners are always safeguarded.

“This project represents more than a hotel. It represents a partnership, a trust, and a long-term vision for sustainable value creation. We thank Radisson for its global expertise and operational excellence.

“Edison is fully committed to ensuring that the asset performs strongly, operates efficiently, and delivers lasting value to its owner”, the firm said.

In his speech, the Attorney-General of the Federation Chief Lateef Fagbemi, SAN, representative by Mr. Wada Ahmed Wada described the signing ceremony as historic and wished the parties success in their business relationship.

By Ariwera Ibibo-Howells, Yenagoa

Business

FG engages foreign investors at PEBEC Roundtable on business environment reforms

Published

1 day ago

March 9, 2026

The Tide

Senior government officials and foreign investors operating in Nigeria met in Abuja on Thursday as the Presidential Enabling Business Environment Council (PEBEC) convened the Third Existing Foreign Direct Investors (FDI) Roundtable to address challenges affecting the country’s investment climate.

The high-level engagement, held at the Banquet Hall of the Presidential Villa, brought together top policymakers and representatives of foreign companies for discussions aimed at improving Nigeria’s business environment and strengthening investor confidence.

The roundtable forms part of PEBEC’s efforts to deepen collaboration between government institutions and the private sector while ensuring that ongoing reforms translate into tangible improvements for investors already operating in the country.

Opening the session, Senator Ibrahim Hadejia, Deputy Chief of Staff to the President, welcomed participants on behalf of the Vice President and Chairman of PEBEC, reiterating the Federal Government’s commitment to maintaining a stable and transparent business environment that supports investment and economic growth.

In her remarks, the Director-General of PEBEC, Princess Zahrah Mustapha Audu, said the council remains committed to sustained engagement with investors and coordinated implementation of reforms across government agencies.

She noted that existing foreign investors play a critical role in Nigeria’s economic development through job creation, capital investment, technology transfer, and supply chain development.

According to her, PEBEC’s engagement strategy prioritises listening to investors already operating in the country in order to identify and address operational challenges affecting their businesses.

The roundtable featured presentations and interactive discussions with senior government officials responsible for regulatory and policy frameworks affecting investors.

Among them were the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji; the Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi; and the Inspector-General of Police, IGP Olutunji Rilwan Disu.

Also participating virtually was Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms and Minister of State for Finance-designate, who spoke on ongoing fiscal and tax reform initiatives aimed at improving tax certainty and strengthening revenue administration.

During the discussions, investors raised technical questions and shared insights on issues relating to security, tax administration, customs procedures and fiscal policy reforms.

Business

MAN warns against illegal recycling of File photo

Published

1 day ago

March 9, 2026

The Tide

The Manufacturers Association of Nigeria has warned against the illegal destruction and recycling of returnable packaging materials belonging to beverage companies, following a recent police crackdown on illegal factories in Anambra State.

Earlier in February, the Nigeria Police Force, working with beverage manufacturers, reportedly raided several illegal facilities in Onitsha and surrounding areas, where individuals allegedly destroyed returnable glass bottles and plastic crates belonging to beverage companies.

In a statement on Friday, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, condemned the destruction of these packaging materials as unauthorised and economic sabotage against businesses, and hailed the efforts of the police and regulatory agencies.

“The recent raid is the outcome of sustained engagements and intelligence-led investigations and represents a decisive step by authorities to protect legitimate business operations, uphold environmental standards, and deter further illegal activity,” Ajayi-Kadir said.

The MAN DG described the practice “as criminal and a serious economic sabotage… as assets remain the property of beverage companies that have invested heavily in these sustainable packaging materials to protect the environment”.

According to a Vanguard News report, the Executive Secretary of the Beer Sectoral Group of the Manufacturers Association of Nigeria, Abiola Laseinde, commenting on the February crackdown on alleged factories in Anambra, stated that, “The recent raid is the outcome of sustained engagements and intelligence-led investigations… a decisive step by authorities to protect legitimate business operations, uphold environmental standards and deter further illegal activity.”

Ajayi-Kadir confirmed the earlier news reports, affirming that the police acted on credible intelligence to dismantle illegal operations involving the theft, destruction, and unauthorised recycling of companies’ returnable packaging materials.

He stated that the association received reports from member companies that some factories were destroying company-owned bottles and crates for resale as raw materials, resulting in businesses losing millions of naira in investments.

“The police, working with member companies, acted on credible intelligence and stormed the factories to crack down on illegal disposal, theft, and unauthorised recycling of the returnable packaging materials of the affected companies, notably returnable glass bottles and plastic crates,” Ajayi-Kadir said.

Ajayi-Kadir added that investigations revealed that large quantities of bottles and crates were diverted from legitimate channels into informal recycling networks across the South-East.

“Member companies identified multiple illegal locations in the South-East where they crush our bottles and crates for resale as raw materials, while police investigations showed that significant quantities were being diverted from legitimate channels into informal recycling networks,” MAN’s DG said.

He noted that in several cases, reusable bottles were deliberately broken and plastic crates shredded and sold as raw materials, thereby undermining beverage companies’ circular packaging model.

He remarked, “These Returnable Packaging Materials are company-owned assets designed for multiple reuse cycles and form a critical part of their sustainability, cost-efficiency, and product quality systems. It’s a criminal activity to destroy them.”

Meanwhile, Ajayi-Kadir warned those involved in the illegal practice to desist, stressing that the association would continue to collaborate with law enforcement agencies to ensure offenders face the full weight of the law.

He added that beyond the direct loss of assets, the activities disrupt supply chains, raise operational costs and pose environmental and safety risks due to unsafe recycling practices.

MAN urged relevant government agencies to intensify efforts against the illegal diversion and destruction of returnable packaging materials outside the beverage industry’s value chain.

MAN’s DG also called on members of the public to report suspicious activities to the police or to the consumer care lines of beverage companies.