The Federal Government has reaffirmed its commitment to improving the ease of doing business, ensuring regulatory stability, and fostering strategic alliances to enhance Nigeria’s economic competitiveness.
Minister of State for Industry, Trade, and Investment, John Enoh, made this known at the Renewed Hope Global Virtual Conference 2025.
Enoh noted that while progress had been made, the government remained focused on eliminating bottlenecks, streamlining business operations, and boosting investor confidence.
“The PEBEC, previously chaired by the Minister of Trade and Investment, Dr. Jumoke Oduwole, plays a crucial role in improving the business climate. The President has recently appointed a new head to continue this important work,” Enoh said.
He added, “Government policies are continuously evolving to ensure Nigeria remains competitive within the sub-region, the continent, and the global economy.
“While we have not achieved everything yet, the goal is clear to create a business environment that supports industrial growth, attracts investment, and enhances job creation.”
The minister stressed the importance of policy predictability and regulatory transparency, stating that investors need assurances that regulations will remain stable or that any changes will be clearly communicated.
“Investors need assurance that today’s regulations will remain consistent or, if changes occur, they will be clearly communicated in advance. The government is fully aware of this and is working towards ensuring a stable business climate,” he said.
Enoh acknowledged past challenges businesses faced but reassured that President Bola Tinubu’s administration is holding agencies accountable to address bureaucratic delays.
“I understand the frustrations caused by procedural delays, but that is precisely why PEBEC and other regulatory agencies exist—to remove obstacles and facilitate smoother business operations,” he stated.
The minister also highlighted the need for synergy between government agencies to eliminate inefficiencies.
“A lot of agencies have operated in silos, but once everyone understands that we are working for the common good of Nigeria, achieving our economic objectives becomes much easier,” he said.
Additionally, Enoh disclosed an upcoming partnership between the government and FCMB to improve access to finance for small businesses.
“In our meeting yesterday, I emphasised that this collaboration must offer something unique. It should not be solely driven by profit motives but must align with the government’s vision to support businesses at reasonable costs,” he said.
He assured that the administration is taking concrete steps to address business concerns and improve Nigeria’s global competitiveness.
“This government is intentional about reform. We are committed to making it easier to do business, ensuring transparency in regulations, and fostering partnerships that truly benefit Nigerian entrepreneurs,” he said.
