Shettima urges regulatory agencies to streamline operations

Vice President Kashim Shetima has tasked regulatory agencies to streamline their operations so that they will eliminate overlaps and align with President Bola Ahmed Tinubu’s economic agenda.

Shetima, who is also the Chairman of the Presidential Enabling Business Environment Council (PEBEC), while speaking at the inaugural Regulators’ Forum held at the Presidential Villa, tasked the regulators to ensure improved trust, transparency, and adherence to global standards in regulatory practices.

He also called for enhanced transparency and efficiency among regulatory bodies in order to boost Nigeria’s global competitiveness, urging heads of various Ministries, Departments, and Agencies (MDAs) to seize the opportunity provided by the forum to redefine the regulatory landscape in Nigeria.

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The Special Adviser on PEBEC and Investment, Dr Jumoke Oduwole, stated that the forum was convened to enhance Nigeria’s business climate and serves as a collaborative platform for regulatory agencies to tackle operational challenges and streamline processes affecting business operations.

She noted that the forum is in alignment with the national economic objectives, saying a stable and transparent business environment is crucial for attracting investments and fostering economic growth.

She said, “The collaboration is expected to improve trust in regulatory practices, align them with international standards, and enhance perceptions of doing business in Nigeria,” adding that it will also improve Nigeria’s business climate, foster trust and transparency, align regulatory practices with global standards, and enhance the perception of the ease of doing business in Nigeria.

“The Presidential Enabling Business Environment Council (PEBEC) was established in July 2016 by the Federal Government to oversee Nigeria’s business environment intervention with the dual mandate of removing bureaucratic and legislative constraints to doing business and improving the perception of the ease of doing business in Nigeria.”