President Muhammadu Buhari has signed the business facilitation (miscellaneous provision) bill 2022 into law, the Presidential Enabling Business Environment Council (PEBEC) revealed on Monday.
Buhari signed the bill following its passage in the Senate and the House of Representatives in December 2022, as the government continues its reforms to ease business in Nigeria.
The business facilitation act 2023 is also known as the omnibus act pushed by PEBEC to remove bottlenecks around doing business in the country.
According to the statement released by the Special Adviser to President Buhari on ease of doing business, Jumoke Oduwole, on Monday, the act, which was drafted as an executive bill, also led to the amendments of 21 business-related laws.
The act is expected to favour micro, small, and medium-sized enterprises (MSMEs) in Nigeria, as it creates an enabling environment.
“It is a culmination of over four years of collaboration between public and private sector stakeholders, including the attorney general of the federation, the federal ministry of justice, the Nigeria Bar Association section on business law through the participation of over 40 law firms and consulting firms, the Nigerian Economic Summit Group (NESG), and the national assembly business environment roundtable (NASSBER),” Oduwole said.
Oduwole, who doubles as PEBEC secretary added “We are especially delighted to appreciate the 9th national assembly for its speedy consideration of this bill, with immense support from senator Babajide Omoworare, senior special assistant to the president on national assembly matters (senate) all his efforts.
