The Presidential Enabling Business Environment Council (PEBEC) has introduced a number of policies aimed at improving the ease of doing business in Nigeria. A number of its reforms are now codified in the Business Facilitation (Miscellaneous Provisions) Act (BFA) 2023. The BFA is expected to strengthen implementation and ensure the continuity of these reforms.
The BFA provides for a number of reforms in the systems and processes of Federal Government Ministries, Departments, and Agencies (MDAs) aimed at promoting transparency and efficiency in their provision of services to private enterprises; and amends 21 business-related laws to bring them in line with its objectives.
We have in this newsletter highlighted the major innovative processes prescribed by the BFA to be adopted by Federal Government MDAs including provisions on:
We will in a subsequent newsletter provide detailed highlights on the amended provisions of the 21 business-related laws amended by the BFA.
Kindly note that the information contained in this newsletter is for knowledge purposes only and does not constitute direct legal advice or opinion.