The federal government has reaffirmed its commitment to improving the ease of doing business, ensuring regulatory stability, and fostering strategic alliances to boost Nigeria’s economic competitiveness.

John Enoh, Minister of State for Industry, Trade, and Investment, said this at the Renewed Hope Global Virtual Conference 2025.

Mr Enoh said that while significant progress had been made, the government was focused on streamlining business operations, reducing bottlenecks, and enhancing investor confidence.

The minister reiterated the role of the Presidential Enabling Business Environment Council in driving reforms to simplify business processes.

“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. 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,” he said.

The minister said policy predictability and regulatory transparency were essential for investor confidence.

“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.

Mr Enoh acknowledged past business challenges but reassured that under President Bola Tinubu’s administration, measures are in place to hold agencies accountable and 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 said.

The minister also reiterated the government’s push for synergy and collaboration between 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.

He also revealed an upcoming partnership between the government and FCMB to improve small businesses’ access to finance.

The minister stated that the administration was taking concrete steps to address business concerns and enhance Nigeria’s global competitiveness.

(NAN)