Presidential Council Introduces Regulatory Impact Assessment
The Presidential Enabling Business Environment Council (PEBEC), says it will introduce Regulatory Impact Assessment (RIA) Framework to its 2025 outlook to improve Nigeria’s business environment.
Aimeya Okpebholo, Project Manager, PEBEC Secretariat in a statement on Monday, said this was part of the strategic roadmap for the Secretariat’s work plan for 2025.
Okpebholo, described the initiative as an innovative tool designed to assess the potential impact of regulatory decisions on businesses and the economy.
“The RIA Framework represents a transformative step for Nigeria’s business environment.
“With its adoption, the PEBEC Secretariat will ensure that regulatory decisions are not only transparent and effective but also aligned with the nation’s economic development objectives.
“The framework will empower regulators to make evidence-based decisions, carefully evaluating their potential impact on businesses and the economy,”she said.
According to her, the PEBEC 2025 Outlook reaffirms the Council’s commitment to driving critical business reforms through the Omnibus Bill 2.0, a landmark piece of legislation poised to transform Nigeria’s business landscape.
The Project Manager said the strategic move was designed to streamline processes and create a more conducive environment for business growth.
Okpebholo also reiterated PEBEC’s continued support for sub-national initiatives, including the roll-out of the Subnational Ease of Doing Business reforms.
“A key focus will be the establishment of Ease of Doing Business Councils across all 36 states and the FCT, ensuring a harmonised approach to improving the business climate at every level of government.
“A key focus for PEBEC In 2025 will be driving legislative and judicial reforms aimed at improving access to justice.
“Efforts will concentrate on improving insolvency regulations and supporting the digitisation of Small Claims Courts, and establishing Commercial Courts to provide businesses with quick and efficient legal recourse.
According to Okpebholo, these reforms are designed to boost Investor confidence and streamline access to justice, creating a more conducive environment for businesses to start and grow.
“PEBEC’s Innovation and Technology strategy will drive the accelerated adoption of digital solutions across MDAs, streamlining processes for greater efficiency.
“Through initiatives like the reportgov.ng portal, the Council will foster increased compliance, reduce rent-seeking behavior, and minimise manual processes, leading to a more transparent, accountable, and responsive government.
“Additionally, strategic communications will be bolstered to ensure that businesses and key stakeholders nationwide are well-informed and actively engaged with ongoing reforms”she said.
Established in July 2016 by the Federal Government, PEBEC has been prioritised by President Bola Tinubu, in line with the 8 point renewed hope agenda of this administration.
The Council is chaired by the Vice-President Kashim Shettima, and comprises 24 members from all arms and levels of government.
Overall, the PEBEC 2025 Outlook document demonstrates the Council ‘s commitment to driving business reforms for investment retention, attract new opportunities for sustainable growth, and improve the perception of doing business in Nigeria.
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