Vice President Kashim Shettima, has urged regulatory agencies to enhance transparency and efficiency to boost Nigeria’s global competitiveness and enhance economic transformation.
Shettima, who is the Chairman of the Presidential Enabling Business Environment Council (PEBEC), said this in a statement issued by Dr Jumoke Oduwole, Special Adviser to the President on PEBEC and Investments on Friday in Abuja.
The vice-president said this while hosting the council’s first Regulators’ Forum in Abuja convened to enhance Nigeria’s business climate.
The News Agency of Nigeria (NAN) reports that the Regulators’ Forum is a collaborative platform for regulators in Nigeria.
It aims at addressing and resolving operational bottlenecks and regulatory challenges in doing business and streamline processes affecting business operations.
The vice-president urged heads of various Ministries, Departments, and Agencies (MDAs) to seize the opportunity provided by the forum to redefine the regulatory landscape in Nigeria.
He reiterated the forum’s alignment with national economic objectives.
A stable and transparent business environment, he said, is crucial for attracting investments and fostering economic growth in the country.
He said collaboration between the various regulatory bodies, would improve trust in regulatory practices, align them with international standards, and enhance perceptions of doing business in Nigeria.
“The expected impact of this collaboration between regulatory bodies will improve Nigeria’s business climate and foster trust and transparency.
“It will align regulatory practices with global standards, and enhance the perception on the ease of doing business in Nigeria.
“The PEBEC was established in July 2016 by the Federal Government to oversee Nigeria’s business environment intervention.
“It has a dual mandate of removing bureaucratic and legislative constraints to doing business and improving the perception of the ease of doing business in Nigeria,” he said.
By Lucy Ogalue, NEWS AGENCY OF NIGERIA