Paragraph 1: Introduction and the Mandate of PEBEC
The Presidential Enabling Business Environment Council (PEBEC) is a Nigerian government initiative established in 2016 with the mandate of improving the nation’s business environment. Operating under the leadership of Vice President Kashim Shettima, PEBEC aims to create a more conducive atmosphere for businesses to thrive, attracting both domestic and foreign investment. Aligned with President Bola Ahmed Tinubu’s "Renewed Hope Agenda," PEBEC’s mission is critical to fostering economic growth and development. The Council’s 2025 work plan focuses on implementing key reforms across various sectors, including the establishment of commercial courts and subnational councils, to streamline business operations and enhance investor confidence. These strategic initiatives aim to address long-standing challenges hindering Nigeria’s economic progress and position the country as a globally competitive business destination.
Paragraph 2: Decentralizing Reform Efforts through Subnational Councils
A core component of PEBEC’s 2025 strategy is the establishment of Ease of Doing Business Councils across all 36 states of Nigeria and the Federal Capital Territory (FCT). This decentralized approach aims to harmonize reform efforts at all levels of government, ensuring that improvements to the business environment are not limited to the federal level but extend to the grassroots. By empowering subnational entities to implement reforms tailored to their specific needs and challenges, PEBEC aims to create a more cohesive and impactful national approach to improving the ease of doing business. This initiative recognizes the importance of local context in driving effective change and fosters greater collaboration between federal and state governments in creating a more business-friendly environment across the country.
Paragraph 3: Strengthening Legal Recourse through Commercial Courts
PEBEC is prioritizing the establishment of commercial courts as a key strategy to enhance investor confidence and provide businesses with efficient legal recourse. Recognizing the often cumbersome and protracted nature of legal proceedings, particularly in commercial disputes, the establishment of specialized commercial courts aims to expedite the resolution of business-related legal matters. This initiative is expected to significantly reduce delays and costs associated with litigation, fostering a more predictable and reliable legal framework for businesses. By improving the efficiency and accessibility of the judicial system, PEBEC aims to attract and retain investments, fostering a more robust and dynamic private sector.
Paragraph 4: The Regulatory Impact Assessment Framework: A Tool for Transparency and Evidence-Based Decision Making
PEBEC is introducing a Regulatory Impact Assessment (RIA) Framework as a significant innovation in its reform agenda. This framework will ensure that regulatory decisions are made transparently, based on evidence, and aligned with the country’s broader economic objectives. The RIA will require a thorough analysis of the potential impact of proposed regulations on businesses and the economy before implementation. This proactive approach will minimize unintended negative consequences and ensure that regulations are designed to support economic growth and development. The RIA framework underscores PEBEC’s commitment to evidence-based policymaking and promoting a regulatory environment that is conducive to business growth and investment.
Paragraph 5: Leveraging Technology and Innovation for Enhanced Transparency and Efficiency
PEBEC’s 2025 strategy emphasizes the importance of leveraging technology to improve government operations and enhance the business environment. The Council plans to accelerate the adoption of digital solutions across ministries, departments, and agencies (MDAs). This includes enhancing platforms like the reportgov.ng portal, a platform designed to facilitate citizen engagement and reporting of government misconduct. By digitizing processes and improving access to information, PEBEC aims to reduce bureaucratic bottlenecks, enhance transparency, and combat corruption. These initiatives are expected to streamline interactions between businesses and government, reducing compliance costs and promoting a more efficient and accountable public sector.
Paragraph 6: PEBEC’s Vision for 2025 and Beyond: A Business-Friendly Nigeria
The PEBEC 2025 Outlook document articulates the Council’s commitment to transforming Nigeria into a globally competitive business destination. By implementing the outlined reforms, PEBEC aims to retain existing investments, attract new opportunities, and improve Nigeria’s global perception as a business-friendly nation. The focus on subnational reforms, commercial courts, the RIA framework, and digital innovation demonstrates a comprehensive approach to addressing the challenges facing businesses operating in Nigeria. PEBEC’s vision is to create a vibrant and dynamic private sector that drives economic growth, creates jobs, and improves the lives of all Nigerians. The Council’s ongoing efforts are critical to realizing this vision and positioning Nigeria as a premier investment destination in Africa and beyond.
